The following Energy guidance note Produced in partnership with Norton Rose Fulbright Canada LLP and SgurrEnergy provides comprehensive and up to date legal information covering:
As long ago as 2012, a number of manufacturers, developers and commentators endorsed the ambition of an additional 2,000 MW of energy storage by 2020 in the UK. According to one source, 362.8 MW of energy storage projects were announced worldwide in 2013–2014, with an almost equal distribution between North America, Asia Pacific, and Western Europe. Global installed energy storage for grid and ancillary services is expected to grow from 538 MW in 2014 to 21 GW in 2024. According to a 2014 report from Navigant Research, it is predicted that worldwide revenue from energy storage will increase from $675 million in 2014 to $15.6 billion in 2024.
Various government and European Commission documents have identified the importance of energy storage for future energy systems. In the UK, the former Department of Energy and Climate Change (DECC), before its integration with the Department for Business, Energy & Industrial Strategy (BEIS), had suggested that there is scope for growth of storage up to 20 GW by 2050. In August 2012, the Low Carbon Innovation Coordination Group carried out a study suggesting that there is a potential range for UK storage deployment to 2050 between 7.2 GW and 59 GW, with 27 GW being the central estimate. A further study by
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