PV energy storage to make ‘enormous leap’ in 2015, says IHS

Share on linkedin
Share on twitter
Share on reddit
Share on facebook
Share on email

This year will be the one when “PV energy storage systems (PVESS) make an enormous leap toward wide-scale adoption”, according to research firm IHS.

Sam Wilkinson, manager for power and energy market research at IHS, said his team also found that 70% of PVESS systems to date have been installed in Japan and Germany. However, this year, the market share enjoyed by the two will fall by 10% as the rest of the world starts to catch up, Wilkinson said.

Wilkinson will present a webinar on the market for energy storage in solar PV on 12 February in conjunction with PV Tech Storage’s sister site PV Tech. In it he will present a host of other findings and predictions, including an assertion that grid-connected storage will this year reach 775MW, a growth of more than threefold from 2013.

The challenges of balancing demand with supply from 180GW of PV systems installed worldwide as of the end of 2014 is driving the solar industry to take greater interest in storage “in all three major market segments – residential, commercial and utility".

Sam Wilkinson of IHS has written a blog on his findings ahead of the webinar which can be read in full at PV Tech.

He will also be presenting the webinar free of charge, with registration open here.

Grid-connected PV installations paired with energy storage by system type. Source: IHS.

Read Next

August 9, 2022
Tax incentives for energy storage included in the US’ Inflation Reduction Act could mean fewer solar-plus-storage hybrid plants are built.
August 3, 2022
Research firm Wood Mackenzie has downgraded its forecasts for US demand for energy storage in 2022 and 2023 by around one-third, in its most recent global outlook report.
July 21, 2022
In the first half of this year, energy storage companies raised almost as much corporate funding as in the whole of 2021.
July 8, 2022
Battery storage capacity in the US more than tripled to 4,631GW in 2021 and increasingly broadened out of ancillary services, according to the Energy Information Administration (EIA).
May 18, 2022
Study conducted by the Massachusetts Institute of Technology Energy Initiative has found energy storage can be a key enabler for the clean energy transition.  

Most Popular

Email Newsletter