Global energy storage set to nearly triple in 2021
The Wood Mackenzie report reflects the key role that storage plays in the electric grid's transition to renewable generation. Storage projects — including lithium-ion batteries — can help mitigate the intermittency of wind and solar and help deliver power when it is needed. The Biden administration, as part of its campaign to decarbonize the grid by 2035, has worked to boost the storage industry, putting market incentives and research and development efforts behind the technology.