According to Dow Jones on April 9, the latest report from Wood Mackenzie shows that driven by the shift to renewable energy to reduce carbon emissions, global energy storage capacity will expand 13 times by 2024.
Wind and solar power fluctuate greatly due to climate and weather changes, which means these energy sources are more dependent on storage than other energy sources. Wood Mackenzie added that falling technology costs will also promote the rapid expansion of the energy storage industry.
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