So how fast will the energy storage happen?
According to our latest report, the take off is so steep, that in the past few weeks alone, enough utilities have committed to buying projects involving energy storage, that the market will double this year, despite coronavirus, and double again next year. Battery Energy Storage (BES) will have a ten year CAGR in excess of 44.8%. Markets do not grow much faster than that.
The report mostly deals in GW (Giga Watts), because much of this market is in 4 hour chunks of battery, translating to 1,462 GWh of battery cells.
Our forecast indicates that 365.5 GW of nameplate energy storage capacity will be installed, in total some 1,462 GWh for the entire market, up from 6.9 GW of BES globally today.
This report is critical to anyone working around grid energy storage. It shows the dramatic acceleration going through the industry right now, after years of companies experimenting with lithium ion battery cells, with the USA at the center of activity.
“Global Battery Energy Storage Forecast to 2030: USA flying start triggers rush for Energy Storage leadership,” is a forecast by region of battery energy storage (BES) their size, rate of install and their effect on renewables profitability.
This report will;
- Give you a key numbers to drop directly into planning spreadsheets
- Give you confidence in your scenarios planning fore BES