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New reports from Navigant Research indicate global power capacity additions for deployed utility-scale energy storage systems and distributed energy storage systems will exceed 50 GW by 2026.
Specifically, utility-scale additions are expected to grow from 1,158.8 MW now to 30,472.5 MW in 2026, and DESS additions should grow from 683.9 MW to 19,669.7 MW.
Navigant said energy storage has grown significantly in early-adopter markets and new markets alike. Utilities are also turning to them to help with grid modernization, changing regulations and new business models.
“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.”
Though five countries now account for 58 percent of new energy storage capacity, that number will drop to 51 percent by 2026.