Americas to be Global Energy Storage Market Leader by 2025
Image Credit: Primus Energy
According to new research from Wood Mackenzie, the Americas region will overtake Asia Pacific by 2025 to lead the global storage market, with a total capacity of 371 GWh in 2030.
Most of this growth will come from the US. China will place second (150 GWh), while Japan will sit third (25 GWh) by the end of the decade.
The slowdown in Asia Pacific is partly due to challenges from market incentives and business cases. Though Asia Pacific led the global storage market last year, with deployments reaching 13 GWh, growth has mainly relied on pilots, government subsidies and grid interconnection requirements over the past decade. Without strong policy support, it will be difficult to scale up the front-of-the-meter (FTM) segment across the region.