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. 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.
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  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, Pumped Hydro, Sodium, Supercapacitors, Thermal, Vanadium, Zinc
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      Null, Reports and Conferences