Renewables boom will cause a 40-fold increase in storage in developing countries by 2025

Researchers at the World Bank Group predict that storage is set to grow 40% per year in developing markets. The growth will take the current installed base of around 2 gigawatts up to 80 gigawatts in under a decade – and if certain rule changes are made, capacity increases could be higher than that.

The findings, published in a report from the International Finance Corporation and the Energy Sector Management Assistance Program, predict that China and India, with their ambitious renewables programs, will be the biggest contributors. A host of other developing countries are also set to become strong players in storage.

It is estimated that by 2020 developing countries will need to double their electrical power output to meet rising demand. By 2035, these countries will represent 80% of the total growth in both energy production and consumption. Renewables paired with storage is often a more cost-effective option than a grid connection in the case of isolated rural or island communities. As a result, by 2025 all developing countries will show considerable yearly growth in storage.

For more information on the predicted storage in developing countries, see full article.