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According to GTM Research, global lithium-ion battery storage capacity is expected to expand
at a CAGR of 55% through 2022.
Lithium-ion battery storage capacity expected to grow by 55% annually by 2022
In their latest report, market analysts predict that lithium-ion battery deployments will grow more than eightfold over the next five years, from 2 GWh in 2017 to 18 GWh
in 2022.
In terms of new capacity, the U.
S.
will maintain its leading position in the market, followed by China, Japan and Australia, supported by early-stage battery programs, market reforms and storage
mandates.
Analysts said countries such as China and South Korea will experience rapid development
due to centralization policies.
As demand for EV batteries increases, which also affects the cost of grid-related battery storage applications, the price of battery packs is expected to fall 82% to $39/kWh in 2040 from $219/kWh
last year.
This will, in turn, allow the use of battery storage in a wider range of applications, while the value of energy storage assets will rise
due to the expansion of wind and solar energy.
GTM Research notes that prices in Australia, for example, have begun to show a downward trend following the launch of the first large-scale battery storage facility, raising hopes that
batteries may begin to "economically replace" gas plants for peak power in 2025.
At the same time, batteries are seen as a major supplier of flexible capacity in California, which will in turn drag down prices
.
，
According to GTM Research, global lithium-ion battery storage capacity is expected to expand
at a CAGR of 55% through 2022.
Lithium-ion battery storage capacity expected to grow by 55% annually by 2022
Lithium-ion battery storage capacity expected to grow by 55% annually by 2022In their latest report, market analysts predict that lithium-ion battery deployments will grow more than eightfold over the next five years, from 2 GWh in 2017 to 18 GWh
in 2022.
In terms of new capacity, the U.
S.
will maintain its leading position in the market, followed by China, Japan and Australia, supported by early-stage battery programs, market reforms and storage
mandates.
Analysts said countries such as China and South Korea will experience rapid development
due to centralization policies.
As demand for EV batteries increases, which also affects the cost of grid-related battery storage applications, the price of battery packs is expected to fall 82% to $39/kWh in 2040 from $219/kWh
last year.
This will, in turn, allow the use of battery storage in a wider range of applications, while the value of energy storage assets will rise
due to the expansion of wind and solar energy.
GTM Research notes that prices in Australia, for example, have begun to show a downward trend following the launch of the first large-scale battery storage facility, raising hopes that
batteries may begin to "economically replace" gas plants for peak power in 2025.
At the same time, batteries are seen as a major supplier of flexible capacity in California, which will in turn drag down prices
.
，
