- Which are the top 10 countries for Energy storage?
- What are country specific trends in terms of energy storage policy?
- What new energy storage policies have been passed worldwide?
- What are the market drivers and barriers to energy storage deployment?
- Where is there growth potential in the energy storage market?
Analyst Insight: Top 10 Countries for Energy Storage
Energy Storage Tracker Insights
Around the globe, energy storage has been gaining momentum with more projects being deployed. The US is the market leader in terms of deployed energy storage projects with almost 100 GW deployed by the end of 2021. As of 1Q22, the top 10 countries for energy storage are: the US, China, Australia, India, Japan, Spain, Germany, Brazil, the UK, and France. However, many other countries are speeding up their deployment of projects in increasingly dynamic markets. In Latin America, Chile has pledged to double its battery energy storage capacity to 360 MW by 2023. The developing solar market in the Middle East has started to look to energy storage solutions to mitigate intermittency.
Technologies are also developing fast and coming to market. Long duration technologies such as thermal or air-based storage will likely be key to retiring old peaker power plants in developed nations because these technologies best emulate their role. However, the production costs of these technologies will need to decrease considerably before they become competitive with fossil fuel-based systems. Meanwhile, indicators show that batteries will become cost-competitive with peaker plants by the end of the decade, further reducing the need for peaker plants.
This Guidehouse Insights Analyst Insight report examines the top 10 countries for energy storage, including market inflection trends, market drivers and barriers, and a regional overview, before giving recommendations for stakeholders in the energy storage industry around the globe.
- Energy storage vendors
- Policymakers
- Utilities
- Energy engineering, procurement, and construction (EPC) firms
- Investor community
Introduction
Scope
Executive Summary
Market Inflection Trends
Market Drivers and Barriers
Top Countries by ESS Capacity
Regional Market Overview
Key Recommendations
Acronyms and Abbreviations
Additional Resources
Contact
- Energy Storage Potential by Region, World Markets: 2022-2031
- Top Countries by ESS Capacity (MW), World Markets: 4Q 2021
- Top Countries by ESS Capacity (MW), World Markets: 4Q 2021
- Regional Market Overview by Projects Tracked, World Markets: 4Q 2021
- Market Drivers and Barriers
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