A new report from Navigant Research forecasts nearly 37 GW of new energy storage deployments in Asia Pacific’s five major markets by 2025.
The report, Country Forecasts for Grid Tied Energy Storage, looks at the capacity and revenue of grid-tied storage systems expected for deployment in major markets around the globe, including utility-scale and distributed energy storage applications for nine of the most popular technologies in each country.
“As the industry expands, different countries are expected to rely on different mixes of energy storage technologies and applications best suited to serve the needs of their local electricity grids,” said Alex Eller, Navigant Research research associate. “As expected individual market leaders for energy storage, the United States and China are projected to have a more balanced mix of utility-scale and distributed storage deployments, while other countries are likely to heavily favor one application.”
The report examines the market for grid-tied energy storage systems in 22 countries, forecasting power capacity, energy capacity and revenue for the coming decade.