Total demand for energy storage between this year and 2030 could be close to 1TWh worldwide, according to analysis from Wood Mackenzie Power & Renewables.
Research firm IHS Markit has said that 2021 marks the start of a continued period of rapid growth for the global energy storage industry, forecasting more than 12GW installations in total this year.
Europe’s cumulative electrochemical energy storage installation capacity has gone past the 5GWh mark and this year is likely to see installations almost double from 2020’s figures.
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.
When lithium-ion’s dominance of the energy storage market begins to wane, redox flow batteries are well positioned as a strong competitor, emerging technology market research and business intelligence group IDTechEx has said.
With many climate protection advocates as well as the industry itself calling on Europe’s lawmakers to recognise the importance of energy storage, a “significant slowdown” in 2019 is expected to be countered with a more positive outlook going forwards.
Despite the huge strides energy storage has made, significant hurdles remain before the technology in its many guises can be claimed to have fulfilled its massive potential. E-S.n editor Andy Colthorpe assesses the key successes and ongoing challenges for this indispensable part of the future power system.
Thanks to “innovative business models” and the combination of PV with batteries, Japan’s “solar boom” is far from over, market expert Izumi Kaizuka of RTS PV has said.
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.
