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Battery storage market ripe for a boom in SA, says World Bank

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World Bank expects a rapid rise in SA’s storage demand with revenue of up to $2bn a year in 10 years

The development of a battery market and value chain in SA could create a lucrative industry capable of generating up to $2bn in revenue a year by 2032 and tens of thousands of jobs.

This is according to a new report by the World Bank which says that over the next five years SA is expected to show rapid growth in energy storage demand. The rise in demand will come from the transformation of the energy system to include more renewables and developing demand in the electric vehicle sector...

 

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