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New study: Energy storage market will hit USD 23 billion annually

The market for energy storage will grow to more than USD 23 billion annually, according to a new report.

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BY

A new study shows that the energy storage market will likely land at more than USD 23 billion annually in 2026, reports Recharge.

Navigant Research is behind the study, which says that revenue will grow significantly due to declining prices of energy storage systems, lower costs of renewable energy projects and grid resilience challenges brought on by renewables growth.

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