2021 energy storage industry benefit analysis

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

Most large-scale battery energy storage systems are expected to come online in the United States over the next three years. These systems will be built at power plants that also produce electricity from solar photovoltaics.

How will energy storage systems impact the C&I sector?

So, the C&I sector is likely to use energy storage systems more and more to increase the amount of renewable energy it uses. This will create big opportunities for ESS providers in the future. Asia-Pacific was the largest market in the world in 2021. This was because countries like China, South Korea, and India needed more energy storage systems.

What if all US battery storage projects become operational in 2021?

If all currently announced projects from 2021 to 2023 become operational in 2021, then the share of U.S. battery storage that is co-located with generation would increase from 30% to 60%.

What are the future opportunities for ESS providers?

This will create big opportunities for ESS providers in the future. Asia-Pacific was the largest market in the world in 2021. This was because countries like China, South Korea, and India needed more energy storage systems. Battery energy storage is a critical technology in transitioning to a sustainable energy system.

Will China boost battery storage in 2021?

Further, in 2021, China announced its plan to boost cumulatively installed non-pumped hydro energy storage to around 30 GW by 2025 and 100 GW by 2030, which, coupled with recent adoptions of time-of-use power tariffs that create a greater range between peak and off-peak power prices, are driving a boom in battery storage activity.

How many megawatts of battery storage will be installed in 2021?

Based on planning data, an additional 10,000 megawatts of large-scale battery storage is likely to be installed between 2021 and 2023 in the United States.