The total number of worldwide energy storage projects rose in the first half of 2012 from 482 to 514.

According to figures released today from US analysts at Pike Research, the region with the largest energy storage base is Asia Pacific, which has just over 60 GW of installed capacity.  

Pike analyst Brittany Gibson said that “considerable momentum is building behind newer energy storage technologies, such as advanced batteries, particularly as the renewable energy community embraces storage as a means of mitigating risks associated with variable power generation resources”.

She added: “High costs remain a significant hurdle for newer technologies, but market interest is growing rapidly as government-funded programs encourage the deployment of a wide variety of technologies.”