Wood Mackenzie expects 1 TWh of storage deployments in 2021-2030

Author: Portland General Electric. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

October 7 (Renewables Now) - Annual energy storage capacity deployments globally are seen to come near 1 TWh in 2021-2030, Wood Mackenzie said today.

The natural resources consultancy has just released its Global Energy Storage Outlook, where it guides for a combined share of more than 70% for the US and China in the total global installed capacity through 2030.

“Moves to accelerate the decarbonisation of the US and Chinese power sectors are gaining pace and provide the foundation of our global market forecast,” said senior research analyst Xu Le.

Asia Pacific as a whole is seen to add 400 GWh of total storage capacity by 2030, 82% of which in the front-of-the-meter (FTM) segment. Europe will top 100 GWh of deployments, led by Germany and Italy.

Global FTM energy storage deployments in the period are projected to surpass 700 GWh, or 73% of the new storage capacity. China alone will contribute 260 GWh.

In 2021, WoodMac expects 12 GW/28 GWh of energy storage installations globally, almost trembling from 2020.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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