Global installed capacity for energy storage for the grid and ancillary services is expected to grow from the existing 1.1 GW to 21.6 GW in 2025, according to new data.
A report from Navigant Research states that “grid operators around the world are beginning to recognize the value that large-scale energy storage systems can provide, and utility-scale energy storage is expected to continue breaking into the mainstream electricity industry this year”.
The report highlights that as this occurs, the market is projected to move away from research and development projects towards full commercial deployments.
“The energy storage for the grid and ancillary services market is being driven by increasing deployments of renewable energy, efforts to improve reliability, and the overall need to modernize the grid,” said Alex Eller, research analyst with us-headquartered Navigant.
“Asia Pacific’s market is expected to be both the largest and fastest growing over the coming decade, with annual deployments growing from 294.3 MW in 2016 to 9355.6 MW in 2025.”