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July 24th, 2017
by Joshua S Hill
The combined global annual capacity additions for utility-scale and distributed energy storage is expected to exceed 50 GW by 2026, according to new figures published by Navigant Research.
While it is unsurprising that the global energy storage sector is set to see strong growth over the next decade, the sheer scale of that growth expected by 2026 is phenomenal. According to two new reports published by Navigant Research, the annual capacity additions expected for both the utility-scale energy storage sector and the distributed energy storage sector will together exceed 50 gigawatts (GW) in 2026. Specifically, the global annual utility-scale energy storage power capacity additions will grow from 1,159 MW in 2017 to 30,473 MW by 2026. Meanwhile, the global annual capacity additions for the distributed energy storage systems (DESS) sector will grow from 684 MW in 2017 to 19,700 MW by 2026.
“Worldwide, the energy storage industry continues to gain momentum, with an increasing number of new projects being announced and commissioned,” said 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.”
Navigant Research predicts that 5 countries in 2017 are expected to account for 51% of all new energy storage capacity additions across both sectors — the United States, China, India, the UK, and Australia. (Note: Navigant did not provide this information in their publically available information, but the charts below seem to bear this out.) This is down from 58% in 2017.
Annual Installed Utility-Scale Energy Storage Power Capacity Additions, Top 10 Countries, World Markets: 2017-2026
Annual Installed Distributed Energy Storage Power Capacity Additions, Top 10 Countries, World Markets: 2017-2026
For both sectors, energy storage development is highly concentrated in countries with the right conditions, in terms of both policy and demand. The top 5 countries for DESS will account for 70% of the market in 2017, while the top 5 countries for utility-scale energy storage will account for 57% — a drop on previous predictions, thanks to substantial maturation. Specifically, Navigant found that “significant growth” had taken place in both the more mature early-adopter markets, as well as emerging energy storage markets.