Storms spur US$22.3b investment in battery-backed grids

New York

GROWING demand for more resilient power supplies will spur US$22.3 billion of global investment in battery-backed local energy systems over the next decade, according to Navigant Research.

Villages and homes in far-flung places will drive the expansion of microgrids, small-scale solar systems with batteries that can retain power until it's needed. Navigant expects 14.9 gigawatts to be in operation in 2026, up from 238 megawatts this year, according to a report on Tuesday.