The Traderszone Network

Published in TZ Latest News 26 July, 2015 by The TZ Newswire Staff

General Electric aims big in energy storage after battery step back

Demand for industrial battery systems is being driven by increasing reliance on intermittent energy sources such as wind and solar power and the potential to add energy to the grid quickly when power needs spike. “We believe in the space and its ability to grow,” Jeff Wyatt, GE’s general manager for energy storage, said in a recent interview. GE over the past year has overhauled its approach to the energy storage market, as it saw weaker demand for the battery it developed.