According to the report, the energy storage industry saw revenues of over US$1.2bn in 2010. Renewable energy
in Europe is creating opportunities for the energy storage market, which could see revenues of US$2 billion by 2017.
Smart energy management systems are also promoting the prospects of energy storage technologies. Smart energy systems include solutions such as demand side management and smart grid solutions that offer reliable, high quality power, while effectively meeting spiralling energy demand.