Energy Storage Market Outlook 2017: State of Play

Renewable Energy World ------- According to ESA, in terms of megawatt-hours, the U.S. market grew 284 percent in 2016 alone and deployment of energy storage systems through 2017 looks set for exponential growth again. Navigant reports that 520 MW of new energy storage capacity was deployed globally in 2014 and 2015; bringing non-hydro energy storage to some 2,276 MW by year's end. "In 2017 we expect the global market to grow 47 percent from the already record breaking year in 2016 in terms of new storage capacity deployed," said Eller. Through 2020, Eller pointed out that Navigant forecasts over 29.4 GW of new storage capacity to be deployed worldwide across all sectors, and a compound annual growth rate of 60 percent. For the near future, the dominant form of energy storage, pumped hydropower, is sure to remain the principal method of storing energy, occupying a global market share of over 95 percent. For more in depth information on the energy storage market outlook for 2017 click on the picture below to read the article.