Data centres to drive energy storage 'boom cycle' in next five years, UBS says

UBS has forecasted a substantial boom cycle in energy storage driven primarily by the expansion of data centers over the next five years. This prediction underscores the critical role that data centers play in the modern economy, particularly as they require robust energy solutions to support their operations. The anticipated growth in energy storage is not only vital for meeting the rising energy demands of these facilities but also reflects a broader trend towards sustainable energy practices. As industries increasingly rely on digital infrastructure, the need for efficient energy storage solutions becomes paramount, making this boom cycle significant for both market dynamics and environmental considerations.