German utility E.ON is targeting potential revenues of 12 billion euros ($13 billion) by 2020 from developing energy storage applications across the residential, utility-scale and commercial & industrial (C&I) segments in Europe and the United States, said Eliano Russo, E.ON’s vice president, energy storage - batteries.

Speaking at Energy Storage Update’s Energy Storage Europe conference on November 30, Russo said that “around 70% of that potential is going to materialize in the United States” due to existing incentives, regulations and market structure (see chart below).

E.ON, which has spun off its conventional power generation assets and global energy trading to focus on renewables, energy networks and customer solutions, is pursuing a number of projects in Europe and the US to assess and develop a potential business model for targeting applications for lithium-ion (li-ion) batteries.

The applications range from PV-plus-storage for residential use, to ancillary services in the utility segment and peak shaving at industrial and commercial sites, with all of the projects expected to get commissioned between September 2016 and early 2017.

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