The Energy Storage Market is the critical enabler of the 24/7 renewable energy grid. While dominated by Lithium-ion batteries for short-duration storage, the market is diversifying into Long-Duration Energy Storage (LDES) technologies like flow batteries, thermal storage, and compressed air. Market growth is driven by the need for grid stability, peak shaving, and the integration of variable wind and solar power. 'Behind-the-meter' storage for homes and businesses is also booming as consumers seek energy independence. Policy support, such as the Inflation Reduction Act in the US, and falling technology costs are accelerating deployment, making energy storage one of the fastest-growing sectors in the global energy landscape.More Trending Reports on Energy & Power by Market Research Future
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