Global Annual Power Capacity Additions for Utility-Scale and Distributed Energy Storage to Exceed 50 GW by 2026
July 20, 2017 | Navigant ResearchEstimated reading time: 1 minute
During the past two years, the energy storage industry has experienced significant growth in the more mature early adopter markets, as well as new markets where the technology is just beginning to make an impact. In the utility-scale sector, adoption is increasing as countries realize energy storage’s potential in grid modernization, challenges related to increased renewables generation, changing regulations, and new business models. In the DESS sector, increasingly sophisticated software and control platforms that allow systems to be virtually aggregated to provide grid services and participate in wholesale markets are also driving investment.
“Worldwide, the energy storage industry continues to gain momentum, with an increasing number of new projects being announced and commissioned,” says Alex Eller, research analyst with Navigant Research. “While most activity remains highly concentrated in select markets, newly announced projects indicate that significant geographic diversification is taking place.”
Global annual utility-scale energy storage power capacity additions are expected to grow from 1,158.8 MW in 2017 to 30,472.5 MW by 2026.
Global annual DESS power capacity additions are expected to grow from 683.9 MW in 2017 to 19,699.7 MW by 2026.
In 2017, five countries are expected to account for 58% of new energy storage capacity across both utility-scale and distributed markets.
By 2026 the five largest country markets are expected to represent only 51% of new energy storage capacity.
Suggested Items
IMI Welcomes New CEO
05/03/2024 | IMIIntegrated Micro-Electronics, Inc. (IMI),The IMI Board of Directors announced, in a disclosure dated April 25, 2024, the appointment of Louis Sylvester Hughes, Chief Executive Officer (CEO).
Benchmark Reports Q1 2024 Results
05/03/2024 | PRNewswireRevenue decreased quarter over quarter and year over year primarily due to decreases in Medical, Advanced Computing and Next-Generation Communication sales, which were partially offset by an increase in Complex Industrials sales quarter-over-quarter and increases in Semi-Cap and A&D sales year-over-year.
Ansys Announces Q1 Financial Results
05/03/2024 | ANSYSANSYS, Inc. reported first quarter 2024 revenue of $466.6 million, a decrease of 8% in reported and constant currency, when compared to the first quarter of 2023.
SCHMID Group Closes Business Combination, Begins Trading on NASDAQ
05/02/2024 | SCHMID GroupGebr. SCHMID GmbH, a global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries, and Pegasus Digital Mobility Acquisition Corp. announced the completion of their business combination.
Sanmina's Second Quarter Fiscal 2024 Financial Results
05/02/2024 | Sanmina Corp.Sanmina Corporation, a leading integrated manufacturing solutions company, today reported financial results for the fiscal second quarter ended March 30, 2024 and outlook for its fiscal third quarter ending June 29, 2024.