UES is a multifaceted technology capable of providing a range of grid services and improving overall power system efficiency. The increasing use of solar and wind generation is driving global interest in energy storage to maintain grid stability and increase efficiency. According to a new report from Guidehouse Insights, Asia Pacific is expected to surpass North America and become the largest UES market overall with a cumulative 71.4 GW of new UES capacity, representing a compound annual growth rate (CAGR) of 22.6 percent by 2030. “The UES market continues to develop at differing rates in regions and countries around the world” said Pritil Gunjan, principal research analyst with Guidehouse Insights. “The clear market leaders are pioneering new applications, business models, and technologies to drive the market forward.” The dramatic reduction in prices for lithium-ion…
Storage – Guidehouse Insights expects Asia Pacific utility-scale energy storage market to grow by 23 percent by 2030
