- What are the trends to watch in energy storage in 2022?
- What are the market drivers and barriers to technology deployment?
- What are the regional trends in energy storage deployment?
Analyst Insight: Trends to Watch in Energy Storage 2022
Energy Storage Forecast Database Insights
Energy storage is central to creating a smarter, more flexible energy system. Storage technologies can maximize the use of intermittent and distributed renewable generation, by storing and discharging energy when required. Storage technologies are also highly flexible. They provide essential balancing services, improving system stability and mitigating network constraints by relieving congestion on the grid. This immense flexibility is valuable for investors, utilities, grid operators, and end-users; and makes storage technologies a natural complement to other rapidly growing renewable energy assets like solar and wind.
Dramatic cost declines, increasing manufacturing capacity, and market and regulatory reforms have combined in recent years to create a thriving energy storage market. These factors are responsible for the considerable growth in both the distributed and utility-scale settings. As governments around the world strive to retire gas peaker plants in favor of less carbon-intensive methods, and while Europe looks to reduce reliance on natural gas imports amid geopolitical concerns, Guidehouse Insights expects the storage market to grow steadily through 2031.
This Guidehouse Insights report highlights five trends to watch in energy storage in 2022. Topics include growing regulatory and policy support, falling lithium-ion prices, increased competition for battery procurement, a fast-developing long duration storage market, and the proposed investment tax credit for US standalone storage.
- Energy storage vendors
- Battery vendors
- EV manufacturers
- Energy engineering, procurement, and construction firms
- Investor community
Market Inflection Trends
Market Drivers and Barriers
Five Trends to Watch in 2022
Increasing Regulatory and Policy Support
Falling Li-Ion Prices
Growing Competition for Battery Procurement
LDES Comes to the Fore
Proposed ITC for US Standalone Storage
Acronyms and Abbreviations
- Utility-Scale Li-Ion Battery System Pricing by System Duration, Total Installed Costs, Base Case, World Markets: 2022-2031
- Annual Installed UES Market Share by Technology, World Markets: 2022
- Annual Installed Long Duration Energy Storage Capacity by Region, All Applicable Technologies, Durations, and Applications, World Markets: 2022-2031
- Market Inflection Trends
- Market Drivers and Barriers