Over the next decade, growth in advanced batteries for utility-scale energy storage applications is projected to be robust. Market factors such as variable generation deployments, government support, grid and market structure, demographics, and grid stability are anticipated to lead to an annual revenue increase from $231.9 million in 2016 to $3.6 billion in 2025 and a 30-fold increase in capacity. Global energy capacity for advanced batteries for utility-scale energy storage is expected to reach 42.7 GWh by 2025.
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