2021 is the first year of energy storage

Will 2021 be a record year for energy storage?

2021 will be a record year for the energy storage industry as installations exceed 10 GW for the first time, increasing from 4.5 GW in 2020.

Will energy storage colocated with solar be completed in 2021?

IHS Markit predicts that 3.8 GW of storage colocated with solar will be completed in 2021 compared with 0.9 GW in 2020. IHS Markit predicts that energy storage colocated with solar will account for 47% of global FTM installations until 2030.

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How will energy storage grow over the next decade?

With energy storage being deployed on both sides of the meter – either in front-of-the-meter (FTM) in the grid and colocated with generation assets or behind-the-meter (BTM) at an end-customer site – growth over the coming decade will be underpinned by the FTM segment.

What is the future of energy storage?

BNEF’s forecast suggests that the majority, or 55%, of energy storage build by 2030 will be to provide energy shifting (for instance, storing solar or wind to release later). Co-located renewable-plus-storage projects, solar-plus-storage in particular, are becoming commonplace globally.

How much investment is needed for stationary energy storage?

This boom in stationary energy storage will require more than $262 billion of investment, BNEF estimates. BloombergNEF’s 2021 Global Energy Storage Outlook estimates that 345 gigawatts/999 gigawatt-hours of new energy storage capacity will be added globally between 2021 and 2030, which is more than Japan’s entire power generation capacity in 2020.