Morgan Stanley the analyst and investment bank has suggested that LG Chem and Tesla are best positioned to take big market shares in the solar battery storage market and it predicts it will grow faster than most others expect.
The South Korean company LG Chem and United States’ Tesla are predicted to dominate the US battery storage market which is expected to be worth as much as $50 billion by the year 2020.
Morgan Stanley stated the addressable battery storage market in the US is 85 gigawatt-hours or around $30 billion. But if regulators come on board and allow it to compete in deregulated power markets, the prediction will be doubled to 140 gigawatt-hours or more than $50 billion.
Morgan Stanley predicts Tesla and LG Chem are likely to get 30% each of the market shares, although it doesn’t rule out that either company can get a 50% share. For Tesla, it will depend on the success of the Gigafactory, for LG Chem, it would need its own manufacturing base, which they are planning.
Featured Image Credit: PV magazine