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UCO - The Addressable Market For Utility Energy Storage Could Scale To $800 Billion
ProShares Ultra Bloomberg Crude Oil
By Sam Korus, ARK Analyst, Industrial
Elon Musk has stated that Tesla's (TSLA) energy storage business will be as large as its car business in the long term.1 ARK's research shows that foregoing planned gas peaker plants and replacing them with utility scale energy storage could generate roughly $10 billion in revenues per year, more than six times Tesla's $1.5 billion utility energy storage revenue in 2018. As battery costs continue to fall during the next five to ten years, the global addressable market for utility energy storage should expand to $800 billion.