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.
Analysis firm Wood Mackenzie has held onto its forecast that the US will deploy around 7GW of energy storage annually by 2025 and found that 97.5MW / 208MWh of storage was installed during the first quarter of this year.
While pumped hydro plants still account for around 96% of installed capacity of stationary energy storage worldwide, there will be more than 28GW of lithium batteries deployed for stationary storage applications by the year 2028, Navigant Research has predicted.
This year has already seen “significant acceleration” of activity in the global grid-connected energy storage market, with 4.3GW expected to be deployed this year, analysis firm IHS Markit has said.
Energy storage enjoyed another record-breaking year of deployments in the US in 2018, while the residential segment is now “moving beyond early adopters” and into commercial viability, a report from Wood Mackenzie Power & Renewables claims.
Energy storage projects were under construction across four provinces of China, amounting to 340.5MW of new capacity during the first half of this year in the country, according to the China Energy Storage Alliance (CNESA).
Australia’s energy and environment minister has hailed the country’s accelerating residential energy storage sales as a report has emerged from Chief Scientist Dr Alan Finkel which says the “financial equation is straightforward” for adding batteries to home PV systems.
The residential energy storage market in the US has just enjoyed one of its biggest growth spurts so far, although action is mostly centred in specific states with supportive policies and conditions.
Swiss vertically-integrated battery and energy storage system and equipment maker Leclanché has followed sonnen in netting a significant amount of investment to go into the second half of 2018, securing CHF75 million (US$76 million) from its main existing investor.
The European electricity storage market has seen an impressive growth over the past two years. Whereas in 2015 some 300MWh of battery storage capacity was newly installed, just two years later in 2017, more than 700MWh was added. Delta-ee's Valts Grintals gives you some highlights and pinpoints some recent trends across the continent.
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.
China’s deployment of energy storage looks set to continue an upward trajectory, with almost 600MW in the pipeline as of the third quarter this year.
Energy storage in the US is being propelled forward by falling costs and increasingly favourable markets and policy. But for the full value of storage to be realised, numerous regulatory and fiscal barriers must still be surmounted, writes Matt Roberts.
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.