Title: Asia Will Dominate Energy Storage, Says Frost & Sullivan Survey

Summary: The Asia Pacific region is likely to dominate the market for solar power riding the back
of growing demand from countries like China, India and Japan.
With the need for faster integration of renewable energy into the power grid set to increase, Asia
is likely to emerge as the dominant region for energy storage while solar power will be the fastest
growing power generation technology in 2016, states a new report by the market research and
consulting group Frost & Sullivan.
That need is expected to open the floodgates to massive interest in community and grid-scale
energy storage solutions for renewable energy projects next year, specifically in countries like
China, Japan and South Korea.
The report further points out that while coal is likely to retain its position as a major fuel source for
power generation in the region, by end-2015 annual solar power generation capacity additions
in the region is expected to touch an estimated 25.6 GW and further increase to 33 GW in 2016,
reflecting an impressive annual growth rate of approx 28.9%.

As per the report, the Asia Pacific region is likely to continue being a strong market for solar
energy projects riding the back of growing demand from Asian economies including India. The
expected growth is likely to result in strong investments from the private sector both in the
upstream and downstream facets of the solar energy value chain, adds Frost and Sullivan.
The report also adds that Asia will emerge as the dominant region for energy storage, as the
need for faster integration of renewable energy into the power grid grows. This is also expected
to signal a renewed interest in community and grid-scale energy storage solutions in the coming
years particularly in Japan, China and South Korea. Key markets for residential energy storage in
2016 will be led by countries like Australia and Japan.
Similarly, grid investments that also include smart grids are poised to touch approx $126 billion in
the region in 2016, led by China ($78.3 billion), India ($15.4 billion) and Japan ($12.6 billion),
respectively. Smart grids are likely to attract big volume investments from Australia, China and
Japan among others.
Welspun Renewables is a leading player in the renewable energy domain with its solar power
plants spread across Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Karnataka, Punjab,
Tamil Nadu and Andhra Pradesh.

Awards
GLOBAL SOLAR ENERGY LEADERSHIP AWARD 2015

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