Research report on overseas industrial and commercial energy storage sites

What is the market for energy storage in South Asia?

The market for energy storage in the South Asia region is dominated by India. (See Chart 3.4). In India, several key factors are driving the market for energy storage, perhaps most notably the ambitious National Solar Mission.

Can emerging markets benefit from energy storage?

In emerging markets around the world, there is only limited experience with energy storage, yet vast potentials exist to benefit from the technology. Many of these markets share similar energy market dynamics and needs for new resources.

How many electrochemical storage stations are there in 2022?

In 2022, 194 electrochemical storage stations were put into operation, with a total stored energy of 7.9GWh. These accounted for 60.2% of the total energy stored by stations in operation, a year-on-year increase of 176% (Figure 4).

Can energy storage technologies help drive development in emerging economies?

Energy storage technologies hold significant potential to help drive development in emerging economies by improving the quality of the electricity supply and facilitating the effective integration of renewable energy.

What makes a country's energy storage potential unique?

Each country’s energy storage potential is based on the combination of energy resources, historical physical infrastructure and electricity market structure, regulatory framework, population demographics, energy-demand patterns and trends, and general grid architecture and condition.

Are emerging markets a hotspot for energy storage?

Energy storage projects exist and thrive in several geographies, but a number of emerging market countries have the resource potential to be among the most active participants in energy storage today. We expect that select emerging markets will be hotspots of storage activity over the next five to fifteen years.