Global Grid-Scale Energy Storage Market Will Reach at a CAGR of 31.58% by 2016
Global Grid-scale Energy Storage market to grow at a CAGR of 31.58 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need to reduce power blackouts. The Global Grid-scale Energy Storage market has also been witnessing the increased demand for decentralized power generation. However, the reluctance of power utilities to upgrade systems in a power grid could pose a challenge to the growth of this market.
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