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Market outlook for energy storage strengthens due to demand for utility-scale solar co-location, growth in China and new residential incentivesMay 07, 2019A total of 4.3 gigawatts (GW) of grid-connected energy storage will be deployed globally in 2019 – annual installations will grow to more than 10.6 GW by 2025. Annual grid-connected energy storage hardware revenues are projected to grow from $3.7 billion in 2018 to $8.4 billion in 2025 at a compound annual growth rate (CAGR) of 12 percent.
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PG&E’s bankruptcy will generate significant uncertainty for solar and energy storage in the United StatesJanuary 31, 2019On 29 January 2019, investor owned utility (IOU) Pacific Gas & Electric (PG&E) filed for bankruptcy as it contends with claims of fault related to recent wildfires in Northern California. As of 2017, PG&E was the second largest utility in California in terms of bundled retail electricity sales and within the top ten across the United States. At this time, investors and spectators appear confident that PG&E will re-emerge from bankruptcy, but in exactly what form is unclear. PG&E expects the bankruptcy process to last approximately two years.Subscribers Only
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Key Takeaways from Energy Storage International 2018October 10, 2018Energy Storage International, a part of Solar Power International, is a leading trade show and conference for the solar and energy storage industries in the United States. After attending the show in Anaheim, California, the IHS Markit Solar and Energy Storage analyst team has summarized some major findings from the event.Subscribers Only
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Key Takeaways from ees North America 2018July 20, 2018ees North America is a growing event co-located with Intersolar North America that focuses on energy storage industries in the United States. The event continues to increase in size reflecting the positive development across the US market. After attending the show, the IHS Markit Solar and Energy Storage analyst team has summarized some major findings from the event.Subscribers Only
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Nevada accelerates utility-scale solar plus storage in the United StatesJune 11, 2018On 31st May 2018, electric utility Nevada Energy announced plans to offer six contracts for solar PV projects for a total 1 GWac. Half of the solar projects are to be paired with battery energy storage representing 100 MW / 400 MWh of energy capacity. The announcement signifies Nevada Energy’s next wave of renewable energy deployments that will help the state of Nevada achieve a 25% renewable portfolio standard (RPS) by 2025. Across the United States, the rise of solar plus storage projects illustrates their pivotal role in driving both solar and storage deployment as renewable penetration increases.Subscribers Only
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Energy storage established as a key component of New Jersey’s clean energy agenda with a 2 GW targetMay 24, 2018On 23 May, 2018 New Jersey Governor Phil Murphy signed into law A3723/S2314. The bill makes New Jersey the fifth state to adopt an energy storage target. Representing another milestone to the energy storage industry in the United States, creating further momentum across the East Coast following Massachusetts and New York. The New Jersey target is set at 2 GW of energy storage to be deployed by 2030 with an interim target of 600 MW by 2021.Subscribers Only
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SolarEdge acquires UPS supplier Gamatronic, signaling race for PV inverter suppliers to diversify business modelsMay 17, 2018Leading solar inverter supplier SolarEdge announced on May 9, 2018, its intention to acquire Gamatronic, a manufacturer of uninterruptible power supply (UPS) systems. This move is a clear indication of SolarEdge’s plans to diversify its business outside of solar, and to expand into new large revenue industries with potential for disruption. This asset purchase agreement will enable SolarEdge to build a presence in the UPS market, which will reach nearly $8 billion globally in 2018.
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United States to quadruple installed base of residential battery energy storage from 2018 to 2022May 10, 2018Less than 200 megawatts (MW) of residential battery energy storage was installed in the United States prior to 2018. The installed base of residential energy storage is forecast to quadruple by 2022, as more than 850 megawatts (MW) is deployed in the market.
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2 MW Flywheel Energy Storage Facility in Ontario Commences OperationsJuly 24, 2014A 2 MW flywheel energy storage system has begun to operate in Ontario, Canada. The flywheel technology is provided by Temporal Power and is installed and owned by NRStor. The system provides frequency regulation services, which will be a major driver for the North America energy storage market over the coming years.Subscribers Only
