Navigant Research Expects Global Annual Power Capacity Additions for Utility-Scale and Distributed Energy Storage to Exceed 50 GW by 2026

New reports illustrate growing momentum in the energy storage
industry as an increasing number of projects are announced and
commissioned

BOULDER, Colo.–(BUSINESS WIRE)–#ESS–Two new reports from Navigant
Research look at the global markets for deployed utility-scale
energy storage systems (ESSs) and distributed energy storage systems
(DESSs) for commercial and industrial (C&I) and residential customers.

During the past two years, the energy storage industry has experienced
significant growth in the more mature early adopter markets, as well as
new markets where the technology is just beginning to make an impact. In
the utility-scale sector, adoption is increasing as countries realize
energy storage’s potential in grid modernization, challenges related to
increased renewables generation, changing regulations, and new business
models. In the DESS sector, increasingly sophisticated software and
control platforms that allow systems to be virtually aggregated to
provide grid services and participate in wholesale markets are also
driving investment.

“Worldwide, the energy storage industry continues to gain momentum, with
an increasing number of new projects being announced and commissioned,”
says Alex Eller, research analyst with Navigant Research. “While most
activity remains highly concentrated in select markets, newly announced
projects indicate that significant geographic diversification is taking
place.”

Click
to tweet: According to Navigant Research, by 2026, global annual
power capacity additions for utility-scale and distributed energy
storage are expected to exceed 50 GW.

• Global annual utility-scale energy storage power capacity additions
  are expected to grow from 1,158.8 MW in 2017 to 30,472.5 MW by 2026.
• Global annual DESS power capacity additions are expected to grow from
  683.9 MW in 2017 to 19,699.7 MW by 2026.
• In 2017, five countries are expected to account for 58 percent of new
  energy storage capacity across both utility-scale and distributed
  markets.
• By 2026 the five largest country markets are expected to represent
  only 51 percent of new energy storage capacity.

To learn more, download free executive summaries from Navigant
Research’s website. The reports Country
Forecasts for Utility-Scale Energy Storage and Country
Forecasts for Distributed Energy Storage, each provide an
analysis of regional market issues, including recent trends, market
dynamics, and drivers and barriers, associated with the energy storage
industry. Global market forecasts for capacity and revenue, broken out
by segment, country, and building type, extend through 2026. The reports
also examine the utility-scale ESS and DESS markets for the top 10
countries and the business case for customers to deploy distributed
energy storage.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the firm primarily serves clients in the healthcare,
energy, and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
reports, Country Forecasts for Utility-Scale Energy Storage and
Country Forecasts for Distributed Energy Storage is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
[email protected]