By Editors of Power Engineering
The United States and Australia were the world leaders in energy storage deployment last year, but a new report suggests that geographical spread will change in the near future.
GTM Research indicated the United States deployed 431 MWh last year. Thanks in part to Tesla’s mega-battery, Australia followed with 246 MWh.
However, by 2022 China is predicted to become the world’s second-largest hotspot for energy storage, behind the United States. GTM indicated China has both the supply chain and the renewable energy mandate that would significantly boost deployments.
Japan will enter third place, with Australia falling to fourth.
Ravi Manghani, energy storage director at GTM research, said innovative market design is necessary to boost the amount of energy storage.
“Even as the costs have come down, if storage as a technology doesn’t have the right kind of market signals to participate in the markets, you’re not going to see adoption,” he said. “The U.S. is way ahead when it comes to setting the right kinds of policies and market mechanisms to give the right kinds of business model signals to the industry to participate.”