Energy storage trends 2019

When will energy storage become a trend?

Pairing power generating technologies, especially solar, with on-site battery energy storage will be the most common trend over the next few years for deploying energy storage, according to projects announced to come online from 2021 to 2023.

What is the future of energy storage and renewables?

Ultimately, the future is bright for both renewables and energy storage. Together, the two are proving to be a powerful combination in the global energy market. Industry growth, access to new markets, and continued regulatory reform will help to make stored power highly competitive (IRENA, 2017).

When will large-scale battery energy storage systems come online?

Most large-scale battery energy storage systems we expect to come online in the United States over the next three years are to be built at power plants that also produce electricity from solar photovoltaics, a change in trend from recent years.

What is the growth rate of industrial energy storage?

The majority of the growth is due to forklifts (8% CAGR). UPS and data centers show moderate growth (4% CAGR) and telecom backup battery demand shows the lowest growth level (2% CAGR) through 2030. Figure 8. Projected global industrial energy storage deployments by application

How much energy storage capacity is there in the world?

Installed capacity of energy storage is continuing to increase globally at an exponential rate. Global capacity doubled between 2017 and 2018 to 8 GWh (IEA, 2018). Pumped hydro storage still makes up for the bulk of energy storage capacity accounting for 96.2% of the worldwide storage capacity.

How will energy storage change the future?

The flexibility that storage provides to energy networks and service providers will drastically change the ways in which energy is provided in the future. For example, customers will become less reliant on stable and secure electricity supply if they are able to store backup energy in their homes.