The UK and Ireland’s energy storage pipeline is rapidly growing, with co-located solar PV and storage comprising around 20% of planned capacity, writes Mollie McCorkindale of Solar Media Market Research.

According to IEA and BloombergNEF, battery storage was the most invested-in energy tech, with biggest-ever growth in deployments recorded.

Europe has seen its first year when energy storage deployments by power capacity exceeded 10GW in 2023.

The US’ cumulative battery storage installations reached 14.689GW at the end of Q3 2023, with Texas’ ERCOT market contributing 40% of new additions during the quarter.

Cumulative energy storage installations will go beyond the terawatt-hour mark globally before 2030 excluding pumped hydro, with lithium-ion batteries providing most of that capacity, according to new forecasts.

Europe’s biggest battery storage system earned £2.3 million (US$2.85 million) revenues in Q1 2023.

Corporate funding activity into battery storage companies in the first quarter of 2023 fell considerably year-on-year and quarter-on-quarter, according to research from Mercom Capital.  

The Australian market for residential battery storage grew by an estimated 55% in 2022 from the previous year, according to SunWiz.

Germany’s installed based of large-scale energy storage predicted to roughly double in the next couple of years, after 2022 saw a comeback.

Solar Media Market Research analyst Mollie McCorkindale offers insight into the market’s progress in 2022, another record-breaking year.