Energy Storage Projects Continue to Increase Worldwide

The number of energy storage projects deployed on a global basis is on the rise due to the onward growth of technology towards commercial availability. The total number of energy storage projects deployed and announced (including inactive projects) rose 8%, from 600 to 649 during the first half of 2012, according to a new tracker report from Pike Research.

The tracker report also found that the number of deployed projects increased over the first six months of 2012 from 482 to 514.

“Considerable momentum is building behind newer energy storage technologies, such as advanced batteries, particularly as the renewable energy community embraces storage as a means of mitigating risks associated with variable power generation resources,” says research analyst Brittany Gibson.  “High costs remain a significant hurdle for newer technologies, but market interest is growing rapidly as government-funded programs encourage the deployment of a wide variety of technologies.”

The Asia Pacific region currently stands as the largest base of energy storage, with just over 60 gigawatts of cumulative installed capacity. This is most likely due to the large existing base of R&D in the region and the huge battery manufacturing infrastructure.

Source: Pike Research

Photo Credit: A123 Systems

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