Energy storage market growing but slow

New research says that there's a growing interest in systems that store energy, especially from renewable power generation.

Pike Research says that while cost reduction is a serious requirement along with improving technologies, there is a growing interest in enabling long-duration and short-duration storage helping in balancing electricity grid operations. Its tracker report says there are nearly 600 energy storage projects worldwide.

One included the deal between wind turbine manufacturer Dongfang Electric Corporation and US-based battery developer A123 Systems in China aimed at balancing out supply from non-grid standard wind turbines. It may also mean a solution to variable hyrdo and solar power storage issues.