The US is expected to remain the world’s biggest market for energy storage until 2022, with China its closest rival, GTM Research has said.
The US-headquartered firm has just published an overview of the global industry in 2017, in a report which also carries GTM’s forecasting of market trends and expected deployment through to 2022. In fact last year’s leader for installations by power was Australia, commissioning 246MW energy storage power capacity, with the US leading in energy, with 431MWh added.
In total 1.4GW / 2.3GWh was installed worldwide in what the report’s authors Ravi Manghani and Rory McCarthy said had been “one of the most exciting years yet for energy storage”. While focused on the entire world, GTM picked out Europe, the UK, North America, South Korea and Australia to be notably fast-moving.
In Europe, grid services markets in the UK and Germany really led activity in the sector, including what GTM described as “shockingly low clearing prices” of as little as £7 per MWh (US$9.9) for frequency response services in Britain’s 200MW enhanced frequency response (EFR) tender, held in 2016 with projects starting to come online last year. Going forward, as regular readers of this site will also know, a great deal of uncertainty exists regarding overhauls to grid service procurement by the transmission operator, National Grid.
Germany deployed 135MW in power capacity of batteries, the UK 117MW in 2017. Going forward, GTM said changes including unified European Network Codes which could harmonise frequency markets across Europe are expected to appear. Central and northern European markets including Austria, Belgium, France, Germany, The Netherlands and Switzerland are coupled, and – as Energy-Storage.News heard from German politician Thorsten Herdan recently, big things are expected in terms of the interconnection this provides as well.
Recent Comments