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Navigant Research, an international market intelligence company, recently released a report that the distributed energy storage market is expected to achieve tremendous growth
in the next nine years.
This study shows that as the cost of solar energy and energy storage falls, diversified business models and breakthroughs in energy storage technology will drive the distributed energy storage market to grow nearly 20-fold in the next 9 years, from the current 1,073 MW to 19,878 MW per year by 2028
.
In 2019, Germany, Japan, China, the United States and the United Kingdom will account for 78%
of the global market, thanks to the right business environment, incentives, and mature distributed energy storage companies.
Italy, Australia, India, France and South Korea will also join the top 10 global
deployments.
Analysts say the capacity and willingness of public utilities will make such small storage systems critical
.
Breakthroughs including blockchain, artificial intelligence, and system aggregation that provide grid balancing services are driving the adoption
of distributed energy storage.
In California, for example, investment tax credits, falling solar module and lithium-ion battery prices, and sweeping reforms to the Self-Generating Incentive Program (SGIP) have made off-grid costs cheaper
than ever.
According to analysts at Navigant, as utilities embrace large-scale deployment of small batteries to reduce grid congestion and peak capacity demand, they are beginning to offer incentives to customers, and such measures are expected to be a major driver of
storage adoption.
Navigant Research, an international market intelligence company, recently released a report that the distributed energy storage market is expected to achieve tremendous growth
in the next nine years.
This study shows that as the cost of solar energy and energy storage falls, diversified business models and breakthroughs in energy storage technology will drive the distributed energy storage market to grow nearly 20-fold in the next 9 years, from the current 1,073 MW to 19,878 MW per year by 2028
.
In 2019, Germany, Japan, China, the United States and the United Kingdom will account for 78%
of the global market, thanks to the right business environment, incentives, and mature distributed energy storage companies.
Italy, Australia, India, France and South Korea will also join the top 10 global
deployments.
Analysts say the capacity and willingness of public utilities will make such small storage systems critical
.
Breakthroughs including blockchain, artificial intelligence, and system aggregation that provide grid balancing services are driving the adoption
of distributed energy storage.
In California, for example, investment tax credits, falling solar module and lithium-ion battery prices, and sweeping reforms to the Self-Generating Incentive Program (SGIP) have made off-grid costs cheaper
than ever.
According to analysts at Navigant, as utilities embrace large-scale deployment of small batteries to reduce grid congestion and peak capacity demand, they are beginning to offer incentives to customers, and such measures are expected to be a major driver of
storage adoption.
