3Q 2020

Analyst Insight: Utility-Scale Solar Plus Storage Charges Ahead

Energy Storage Tracker

The emergence of solar plus storage projects has been the most important trend seen in the global utility-scale energy storage industry in the past 2 years. These combined projects account for a large percentage of newly announced energy storage capacity, including some of the largest energy storage systems (ESSs) being built around the world. The US has emerged as the hottest market for these new projects and is driving much of the innovation. In the US interconnection queues, there are 102 GW of solar PV projects and 11 GW of wind projects being proposed with energy storage attached. Precipitated in large part by a dramatic decline in costs, nearly one-third of all proposed solar projects in the US are planned with energy storage attached.

New projects are also being built and planned in Australia, Japan, Europe, the Middle East, and elsewhere. These projects are becoming more standardized in their technical and business model design, which are expected to spread to new markets in the coming years. As the case for coupling solar with utility-scale storage is becomes increasingly compelling, questions are beginning to surface about how to effectively execute solar plus storage projects and what are the keys for developing a successful business model.

This Guidehouse Insights Energy Storage Tracker report provides an overview of the market including market inflection trends, market drivers and barriers, global energy storage market forecasts, regional market analysis of energy storage capacity, and key recommendations for stakeholders in the energy storage industry. The report covers data from 2020-2029.

Pages 12
Tables | Charts | Figures 5
  • How is the storage plus market expected to develop moving forward?
  • How can utilities and regulators take full advantage of optimized utility-scale storage and renewables?
  • What are the drivers and barriers of energy storage?
  • What regional markets will see the fastest growth in energy storage deployments?
  • How can utilities, regulators, and policymakers work to improve market conditions for energy storage?  
  • Energy storage technology vendors
  • Smart grid controls and software companies
  • Energy engineering, procurement, and construction (EPC) firms
  • Inverter companies
  • Solar financing companies
  • Utilities
  • Investor community



Executive Summary

Market Inflection Trends

Market Drivers and Barriers

Market Forecast

Regional Market Overview

Key Recommendations

Acronyms and Resources


  • ESS Deployment: Industry Growth Potential, World Markets
  • Market Drivers and Barriers
  • Annual Installed UES Power Capacity by Region, All Technologies and Application Segments, World Markets: 2020
  • Annual Installed UES Power Capacity by Region, All Technologies and Application Segments, World Markets: 2029
  • Pumped Hydro Storage by Status, Regional Projects: 2020-2025