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Storms Unleash $22 Billion in Spending for Battery-Backed Grids

Growing demand for more resilient power supplies will spur $22.3 billion of global investment in battery-backed solar systems over the next decade, according to Navigant Research.

Villages and homes in far-flung places will drive the expansion of microgrids, small-scale solar systems with batteries that can retain power until it’s needed. Navigant expects 14.9 gigawatts to be in operation in 2026, up from 238 megawatts this year, according to a report Tuesday.

North America and the Asia-Pacific region will get about three-quarters of the investment as developers find ways to use microgrids more efficiently, including providing energy-management services to utilities. North America will have 5.85 gigawatts of microgrid storage in operation by 2026 and Asia-Pacific will have 5.57 gigawatts.

“The desire to improve the resilience of power supply, both for individual customers and the entire grid, the need to expand reliable electricity service to new areas, rising electricity prices and innovations in financing,” will all drive demand, researcher Alex Eller said in a statement.

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