Based on the value it provides to grids as shares of renewable energy grow, energy storage is a “very exciting market,” the VP of Goldman Sachs Renewable Power has said.

It has yet to build its first project but Jupiter Power, a developer, owner and operator of utility-scale energy storage has claimed it will deploy 652MWh of battery storage during 2021, kicking off a 10GW development pipeline.

Merchant energy storage has become an investable asset class in the UK, a provider of battery optimisation services has said, with the market moving away from an emphasis on contracted revenue streams for supplying grid services.