Energy storage industry opportunities

Can emerging markets benefit from energy storage?

In emerging markets around the world, there is only limited experience with energy storage, yet vast potentials exist to benefit from the technology. Many of these markets share similar energy market dynamics and needs for new resources.

What is energy storage?

Energy storage refers to a broad spectrum of technologies and systems used to store energy for later use, facilitating increased grid resilience, efficiency, and stability. This sector is crucial for integrating renewable energy sources, managing demand, and improving the reliability of energy systems.

What is the market for energy storage in South Asia?

The market for energy storage in the South Asia region is dominated by India. (See Chart 3.4). In India, several key factors are driving the market for energy storage, perhaps most notably the ambitious National Solar Mission.

What is the future of energy storage?

Chart 3.1 provides forecasts for new energy storage capacity and revenue for each of the six major developing regions identified in this report. The development of distributed and local energy resources, including renewables and energy storage, can provide significant economic growth, jobs, and a sustainable energy future in emerging markets.

What technologies are used in energy storage systems?

TECHNOLOGY RISKS: While lithium-ion batteries remain the most widespread technology used in energy storage systems, these systems also use hydrogen, compressed air, and other battery technologies. The storage industry is also exploring new technologies capable of providing longer-duration storage to meet different market needs.

Can energy storage technologies help drive development in emerging economies?

Energy storage technologies hold significant potential to help drive development in emerging economies by improving the quality of the electricity supply and facilitating the effective integration of renewable energy.