Dive Brief:
- Almost 700 MW of energy storage projects were announced from the third quarter of 2014 to the first quarter of 2015, driven largely by regulatory mandates, according to new research from Navigant.
- The growth has been helped by the spread of lithium ion battery technology. Last year there were 64 newly announced li-ion battery projects, representing 562 MW of capacity.
- Lithium-ion batteries accounted for about 80% of all newly announced projects from that period, Navigant said.
Dive Insight:
The global storage industry had a banner year in 2014, with some of the largest single contracts in history awarded to leading storage companies. A new report by Navigant notes the growth has been driven primarily by regulatory mandates in the United States, Europe, and Asia Pacific, and led to 696.7 MW of energy storage projects being announced from the third quarter of 2014 to the first quarter of 2015.
“Driven by government support at the state and federal levels, North America leads the world in terms of recently announced energy storage projects,” says Anissa Dehamna, senior research analyst with Navigant Research. “California alone accounts for more than one-quarter of new project announcements in the 2014-2015 period.”
The rise in popularity of lithium ion technology has continued, according to the report. In 2014, there were 64 newly announced li-ion battery projects, representing 562 MW of capacity, or around 80% of all newly announced projects during that time period. There were also 25 li-ion projects commissioned during this time period, accounting for 62.4 MW of new capacity coming online.
