LG Chem And Tesla Predicted to Dominate Massive Market for Battery Storage

It is 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 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.

Click here to read the full story on PV magazine

Featured Image Credit: PV magazine

Advertising Partner Offer: Free 16-Page Guide To Solar:

Beginner's Guide to Solar
Interested in advertising on Solar Trust Centre? Enquire here.

Cheap Solar

Written by Jon Capistrano

Jon specialises in research and content creation for our outreach campaigns. He’s worked as a technical support representative for Dell, America Online, Xbox and Dodo Australia. He’s an avid scooterist and musician.

Leave a Reply

Your email address will not be published. Required fields are marked *

LG Chem Expanding Battery Cell Production In US and China

Zen – Santos Join Forces to Ease the Power and Gas Squeeze