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2021 global installed capacity of energy storage may exceed 10GW

Analysis and research organization IHS Markit predicts that the total installed capacity of energy storage systems deployed in markets around the world will reach more than 10GW in 2021, and about half of them will be deployed in the United States. Although the United States will dominate this year, the energy storage market share in the Asia-Pacific region will grow rapidly in the next few years, while deployments in Europe in 2021 will increase by about 70% year-on-year.

The company said in a survey report released a few days ago that this will be more than twice the number of deployments in markets around the world in 2020 (total installed capacity is about 4.5GW). At the same time, the US’s leading position in the world will continue until 2023. But George Hilton, senior analyst of clean energy technology at IHS Markit, pointed out that the United States will have fewer energy storage deployment pipelines after 2023.

Sam Wilkinson, Director of Climate and Sustainability at IHS Markit, stated that the US energy storage market in 2021 will triple year-on-year, and more large-scale energy storage systems will be deployed, and more and more investment tax credits will be obtained. The discount-free solar + energy storage project began to go online.

IHS Markit analysts predict that despite the coronavirus outbreak in 2020, it still creates opportunities for the global energy storage industry. At that time, the company predicted that the installed capacity of global energy storage deployment would exceed 5GW in 2020, and the survey data in early 2021 was lowered. In any case, the global future energy storage deployment still shows a trend of continuous growth.

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