Global installed power capacity of energy storage for the grid and ancillary services (ESGAS) is expected to grow from 1.1 GW in 2016 to 21.6 GW in 2025, according to a new report by Navigant Research.
Utility-scale energy storage is expected to continue breaking into the mainstream industry in 2016, with the market moving away from R&D projects and into full commercial deployments, said Navigant.
Among the most important drivers of this growth is the increase in intermittent renewable energy sources being brought online around the world. Amidst this climate, energy storage systems (ESS) can help grid operators maintain system stability while integrating greater renewable capacity, the report says.
The report also notes that prices for ESS installations have lately fallen, also contributing to the proliferation of capacity in ESGAS markets.