Published on March 29th, 2017 | by Joshua S Hill0
Navigant Research Currently Tracking 1,420 Energy Storage Projects Encompassing More Than 43,000 Systems
March 29th, 2017 by Joshua S Hill
According to a new report from Navigant Research, based on its tracking database of all energy storage projects, there are currently more than 1,420 energy storage projects globally made up of more than 43,000 individual systems.
Navigant Research published its Energy Storage Tracker 1Q17 report this week, which provides a comprehensive overview and tracking of the number of global energy storage projects, based on its own database. The new report details the growth in energy storage as a standalone solution that Navigant says “provides customers and system owners significant value.” The report found that there was a global total of 1,420 energy storage projects, encompassing more than 43,000 individual systems.
“Overall, the global energy storage industry is poised to continue to grow quickly over the next several years,” said Ian McClenny, research analyst with Navigant Research. “With emerging infrastructure becoming increasingly integrated, dynamic, and complex, flexible resources like storage will provide added value to existing and new power generating assets.”
The report predicts that ongoing improvements in the performance of energy storage technologies are only going to serve to solidify energy storage as a viable part of the global electricity grid. Combine this with developing regional regulatory and market drivers, declining capital costs, and new business models, and the days of energy storage being a nonessential extra to renewable energy systems is long over.