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IHS Markit: global battery energy storage pipeline reaches record 10.4 GW in Q1 2018

The global energy storage project pipeline grew to 10.4 GW at the end of the first quarter of 2018, according to the IHS Markit Energy Storage Intelligence Service. More than 3 GW of battery energy storage is forecast to be deployed in 2018, however uncertainty over supply constraints—and potential cost increases for Li-ion batteries—may create unexpected challenges, the market research company said.

The Asia-Pacific region exhibited the strongest growth for deployment of grid-connected battery energy storage in 2017, led by South Korea, Japan and Australia. The three largest markets in 2017, accounting for more than half of all installations globally, were South Korea, the United States and Japan.

Following are the four major battery energy storage pipeline global trends to watch in the coming year, according to IHS Markit:

  • Solar-plus-storage co-location projects currently account for more than 40% of the total utility-side-of-meter pipeline, highlighting the future potential of this market.

  • The behind-the-meter segment will comprise more than half of annual installations, from 2023 onward. South Korea and Canada emerged as new key markets for commercial and industrial storage systems in 2017.

  • Battery energy storage is challenging gas-fired peaker plants to meet California’s capacity needs, leading to a significant increase in the outlook for large-scale energy storage in that state.

  • New energy storage deployment targets, and the inclusion of storage in integrated resource planning across the United States, will drive future market growth across multiple states.

The IHS Markit Energy Storage Intelligence Service provides a detailed and accurate view of the market for energy storage systems across all key segments of the industry, including small- and large-scale renewable integration, grid support and behind-the-meter storage.

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