Coal retirements, liberalised energy markets and declining costs continue to improve the business case for energy storage in Australia, but the coronavirus pandemic is among factors creating uncertainties and risks, new research has found.
This article looks at the current status of each of these end-markets and where there are similarities and differences in how the markets have developed, along with future opportunities.
The number of sites pairing renewable energy with energy storage in the US more than doubled from 2016 to 2019 and the trend is expected to continue, according to the US Energy Information Administration (EIA).
Lithium-ion battery cell costs could fall to as little as US$76 per kWh by 2030, from around US$139 per kWh this year, according to new analysis by Navigant Research.
Over 9,000MWh of battery energy storage could be deployed in Britain over the next five years as the sector enjoys a trend towards “explosive growth”, a market analyst has said.
The rise of energy storage will enjoy a similarly meteoric trajectory to that enjoyed by solar PV deployment in the past and could reach 305GWh of installations by 2030, BNEF has predicted.
It has been the US’ busiest quarter to date for behind-the-meter energy storage installations, driven in part by residential adoption in the advanced markets of California and Hawaii, GTM Research has found.
Another period of growth in US energy storage was enjoyed in the first quarter of 2016, up by 127% year-over-year compared to the equivalent period in 2015, GTM Research has found.