Wood Mackenzie forecasts the US and China will represent 75% of global demand in a highly consolidated market. August 2, 2022 Ryan Kennedy As renewable energy plays an increased role in the electricity grid, energy storage buildout is quickly following behind. Wood Mackenzie said it expects 500 GW in global deployment by 2031, with the United States and China representing 75% of global demand.Wood Mackenzie said it sees the United States on a path to be a 27 GW annual market by 2031, and 83% of that figure will be utility-scale storage. However, projections for 2022 and 2023 have been trimmed by 34% and 27%, respectively, due to disruptions from antidumping and countervailing duties tariff suit in the second quarter. Solar-plus-storage projects were impacted heavily by the investigation, leading to about 35% of grid-scale projects being delayed as a result.The market is expected to…
Global energy storage deployment may reach 500 GW by 2031 – pv magazine USA
