1. Global Energy Storage to Hit 158 Gigawatt-Hours by 2024, Led by US and China

    Global Energy Storage to Hit 158 Gigawatt-Hours by 2024, Led by US and China

    For the energy storage industry, the past five years have been something of a stage rehearsal for a market explosion to come, led by the U.S. and China, but expanding to cover markets across the globe. That’s the picture painted by Wood Mackenzie Power & Renewable’s latest report, which projects that energy storage deployments will grow thirteenfold over the next six years, from a 12 gigawatt-hour market in 2018 to a 158 gigawatt-hour market in 2024. That equates to $71 billion in investment into storage systems excluding pumped hydro, with $14 billion of that coming in 2024 alone.

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  1. Quotes

    1. The majority of the deployments are currently pilot-scale project — but when China does pilot scale projecs, we're talking about tens of megawatt hours.
  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
    4. Article Types:

      Null, Reports and Conferences