Asia-Pacific will overtake North America as the biggest utility-scale energy storage (UES) market by annual installed gigawatts (GW) by 2024-2025, according to a new report by Guidehouse Insights, one to two years later than in the firm’s previous forecasts.
The 2020s are “the energy storage decade,” and the world will surpass a terawatt-hour of installations by the time they are over, according to predictions made by analysts at BloombergNEF.
The US is likely to install record setting amounts of battery storage this year, demonstrating the acceptance the technology has found in the power sector and as an integral part of the clean energy transition.
The pipeline for utility-scale battery storage in the UK has been continually increasing and is now over 20GW across more than 800 projects. A recent surge in submitted applications for battery storage has led to a record breaking quarterly submitted capacity for Q2’21.
Ireland’s first grid-scale battery system was commissioned at the beginning of 2020 but was followed just a few months later by another one 10 times larger. The opportunities for further development in the country appear huge, with a grid operator willing to recognise the role energy storage can play in balancing the network.
System integrators – companies that create large-scale and commercial and industrial battery energy storage system (BESS) solutions to order – have driven the market’s rapid growth so far but face a diversifying landscape marked by competition and consolidation in the years ahead.
China deployed 533.3MW of new electrochemical energy storage projects in the first three quarters of 2020, an increase of 157% on the same period in 2019.
Following our recent webinar on ultra-capacitors and the role they could play in the energy transition, Johan Söderbom, EIT InnoEnergy’s thematic leader for energy storage and smart grids, explains the deepening connection between wind power and ultra-caps.
Funding into battery storage companies fell dramatically in the first half of 2020 compared to last year’s equivalent period, according to the latest reporting from Mercom Capital.
The US utility-scale energy storage market is projected to maintain its position as the world’s largest and fastest-growing in the coming years, according to a new report from Guidehouse Insights.
