1. Storage to 'Become Necessary' in the Next Five Years

    Storage to 'Become Necessary' in the Next Five Years

    The US and China will dominate the roll-out of storage capacity to 2024, as the sector is expected to grow 13-fold by 2024, according to the latest research by Wood Mackenzie Power and Renewables. Between 2013 and 2018, roughly 7GW/12GWh of energy storage was deployed globally, with a compound annual growth rate of 74%, according to WMPR. However roughly half of this total was installed last year alone, WMPR added, indicating the start of a rapid growth in demand for storage applications. Much of the outlook is centered in the US and China.

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  1. Quotes

    1. These developments have shifted the minds of global regulators, policy makers, grid operators, asset operators and developers, in terms of how energy systems can be balanced.
    2. We expect renewables-plus projects to become a popular trend through 2024.
    3. Energy storage will become a necessary technology to enhance system flexibility and enable clean, rapid system balancing, while de-risking ever increasing intermittent assets and portfolios.
  2. Topics Mentioned

  3. Categories

    1. Electricity Source:

      Solar Photovoltaic, Wave, Tidal, Hydro, Wind
    2. Storage Market:

      Commercial & Industrial, Military, Residential & Community & Microgrid, Smart Grid, Utility Grid, Vehicle-to-Grid/Home
    3. Storage Technology:

      Compressed Air/Gas, Flow Battery, Flywheel, Hydrogen, Lead, Liquid Metal, Lithium, Magnesium, Mechanical Storage, Nickel, Sodium, Supercapacitors, Thermal, Vanadium, Zinc
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      Null, Reports and Conferences