Navigant Research predicts global energy storage capacity installed over next decade at 94-GWs

Written By: Stratton Report
March 1, 2017

On March 1, Navigant Research announced its forecast of power capacity of global installed energy storage for the grid and ancillary services is expected to total 93.8-GWs from 2016 to 2025.

Per the research firm, utilities and grid operators are showing increased interest in energy storage for the grid and ancillary services due in part to the rapidly falling systems costs, particularly for battery ESSs.

Alex Eller, research analyst with Navigant Research noted:

Grid operators and regulators are beginning to recognize the value of ESSs for multiple services. Due to the maturation of the industry, the financial community is growing more comfortable with investments in energy storage, further lowering the cost to deploy systems and accelerating the industry. 

Differences in energy market structures and grid needs around the world will result in ESGAS markets with unique needs, according to Navigant. The firm believes that this dynamic highlights how important it is to have flexible offerings in both technologies and business models to succeed in the increasingly competitive ESGAS industry.