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Dan’s Biz Bookshelf: Seeing the HowGlobal 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.
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