A new report from Guidehouse Insights examines new utility-scale energy storage (UES) projects in terms of power capacity (MW), energy capacity (MWh), and project deployment revenue, through 2029.
UES is now considered a key component of new power system planning efforts in countries around the world. This represents a major shift from just two years ago when the technology was still largely considered too expensive or complex for integration into energy markets. According to a new report, through 2029, Asia Pacific is expected to be the largest market overall with a cumulative 60,747.4 MW of new UES capacity, representing a compound annual growth rate of 39.4 percent.
“UES is a multifaceted technology capable of providing a range of grid services and improving overall power system efficiency,” said Pritil Gunjan, senior research analyst with Guidehouse Insights. “Although the technology can provide operational cost savings for any power system, the single most i
