The global energy storage industry achieved significant milestones in 2015, and momentum is expected to continue through 2016 and beyond. Rapidly falling technology costs and innovative new business models are combining with government policies and regulatory reforms to enable a dynamic and fast growing market for energy storage. The wide variety of technologies being deployed and applications being served by new energy storage systems demonstrate the increasing diversity and competition in the industry. Energy storage markets around the world are expected to continue growing substantially in the coming year and beyond, with several GW of projects in the global pipeline for 2016
According to the GTM Research/Energy Storage Association’s U.S. Energy Storage Monitor 2015 Year in Review, the US deployed 112 MW of energy storage capacity in the fourth quarter of 2015, bringing the annual total to 221 MW or 161 MWh for the year. That Q4 deployment represented more than the total of all storage deployments in 2013 and 2014 combined. Propelled by that historic quarter, this market was up 243% on the 2014 figure of 65 MW (86 MWh).
The utility segment, also called front-of-meter, continues to be the bedrock of the US energy storage market. In 2015, front-of-meter storage accounted for 85% of all deployments for the year. Most of these deployments were in the PJM market, where over 160 megawatts of energy storage systems came on line in 2015. The residential and non-residential segments combine to make up the behind-the-meter market. While much smaller, the behindthe- meter market grew 405% in 2015. The report notes that the residential market is geographically diverse but was led by Hawaii for the year. California headed up the non-residential segment.Read more…
Article published in: FuturENERGY April 2016