Global energy storage
Digitization and market innovation accelerate battery storage deployment
Battery storage is having its moment. In addition to flexibility and rapidly falling prices, advances in digital technologies such as artificial intelligence, blockchain, and predictive analytics are spurring innovative storage business models that were nearly inconceivable a few years ago. This paper—from our Center for Energy Solutions—addresses these and other key drivers that are transforming the global energy storage market, as well as challenges to overcome.
Global trends in battery storage
Energy storage is gaining traction around the world and could fundamentally change electricity market dynamics. To understand these shifting dynamics, we peered beneath the aggregate growth projections to examine how some of the more active nations in renewable development and grid modernization are now approaching it. These countries include Australia, Chile, Germany, Japan, India, Italy, South Korea, the United Kingdom, and the United States.
Particularly focusing on battery storage, which is presently the leading technology, our examination sought to uncover what has been driving the push for energy storage in these nations and what utilities and policymakers have been doing to define battery storage, develop storage markets, and to support ongoing deployment.