Market Research Report
Country Forecasts for Utility-Scale Energy Storage: Utility-Scale Energy Storage System Capacity and Revenue Forecasts for Leading Countries
|Published by||Navigant Research||Product code||345213|
|Published||Content info||32 Pages; 110 Tables, Charts & Figures
Delivery time: 1-2 business days
|Country Forecasts for Utility-Scale Energy Storage: Utility-Scale Energy Storage System Capacity and Revenue Forecasts for Leading Countries|
|Published: July 9, 2019||Content info: 32 Pages; 110 Tables, Charts & Figures||
2018 represented the largest year on record for new capacity as new energy storage systems (ESSs) have been built for new markets and to serve new applications. Despite this growth, the market remains concentrated in a relatively small number of countries with the right policies, market structures, regulations, and renewable energy deployments. Shorter duration grid stability applications remain the foundation for many emerging markets. Frequency regulation and related services in particular are the starting point for most countries seeing a growing energy storage industry.
Solar plus storage has emerged as a major opportunity and driver of new growth. The rapidly falling costs for both technologies have made combined solar plus storage plants economically competitive against conventional fossil fuel plants in a growing number of markets. In addition to the new wave of colocated solar plus storage projects, there is increasing demand for energy storage throughout the grid to facilitate the integration of both solar and wind generation as the penetration of these technologies begins to affect the economics and technical operation of the entire power system.
This Navigant Research report provides forecasts for utility-scale ESSs deployed globally in terms of power capacity (MW), energy capacity (MWh), and revenue generated from the development of new projects in 26 countries worldwide. These forecasts cover systems providing all major utility-scale energy storage services and applications. Forecasts include the most common technologies for utility-scale energy storage including electrochemical (batteries) and electromechanical (pumped hydro, compressed air, flywheels, etc.) technologies for 2019-2028.