Integrated storage and renewables anticipated to be worth $23bn by 2026

By Sophie Chapman
According to a recent report by Navigant Research, which has assessed the global market for energy storage for renewables integration (ESRI...

According to a recent report by Navigant Research, which has assessed the global market for energy storage for renewables integration (ESRI), states that the sector is expected to exceed US$23bn in the next eight years.

The report focuses on six utility-scale, commercial and industrial, and residential applications.

Due to the increasing reductions in the costs of energy projects, as well as the rise in policies and resilience, the capacity for solar and wind is set to continue to expand.

With more and more large-scale energy projects being developed the electrical grid is to face challenges, but additional energy storage solutions are expected to alleviate these problems.

SEE ALSO:

“Thanks to the continued drop in prices in energy storage, solar PV, and wind, ESRI is forecast to see strong growth across both utility-scale and behind-the-meter (BTM) applications,” said Adam Wilson, Research Analyst with Navigant Research.

“Interestingly, while utility-scale renewable prices are experiencing bigger declines, formidable drivers in the BTM market, such as peak shaving and incentive programs specific to energy storage, are expected to push the segment to account for roughly two-thirds of forecast global ESRI capacity through 2026.”

Share

Featured Articles

Data Centre Demand Putting Pressure on Energy Capabilities

Utilities in the US are predicting a tidal wave of demand for data centres thanks to the boom of AI, which, in turn, will dial up the need for electricity

Q&A with Hitachi Energy’s EVP & Head of North America

Anthony Allard, who heads up Hitachi Energy as Executive Vice President and Head of North America, shares why the grid is holding us back from clean energy

OMV Takes Strides in Energy Efficiency & Emissions Reduction

Austrian multinational integrated oil, gas & petrochemical company OMV continues its sustainability mission, and reports Scope 1 & 2 emissions are down 25%

Q&A with RAIN Alliance President and CEO Aileen Ryan

Technology & AI

Who is Greg Joiner, the new Head of Shell Energy?

Oil & Gas

Watershed Workshop at Sustainability LIVE: Net Zero

Sustainability