4Q 2020

Analyst Insights: Looking Beyond Peakers

Energy Storage Tracker Insights

Peaker plants serve capacity needs for unexpected peak loads that often cannot be met by intermittent renewable energy technologies such as solar and wind. However, the extra cost to quickly ramp up peaker plants is often borne by ratepayers both in dollars and in air quality from harmful nitrous oxide emissions. As the cost of batteries continues to decline in the US, large markets such as California and New York have shown interest in retiring peaker plants and replacing them with utility-scale storage systems to balance the grid and accelerate adoption of renewables.

European markets such as Germany, the UK, France, Italy, and Spain lead in renewables deployment but also rely on peakers to fill capacity gaps. As these countries strive to meet impending climate goals, new investment will likely be focused on batteries and pumped hydro. Despite growing demand for utility-scale energy storage in Asia Pacific, developing markets such as India and China are relying on a combination of coal and clean energy storage technologies to meet increasing energy demand. Energy storage technologies in the Middle East & Africa and Latin America remain costly, and necessary technology transfers are lacking.

This Guidehouse Insights 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
  • What are some of the leading market trends regarding peaker plants and storage technologies?
  • Which energy storage systems integrators have the largest market share?
  • How many storage projects colocated with renewables have been deployed in major regions?
  • How many energy storage projects are currently underway worldwide?
  • Which regions are leading in terms of deployed market capacity and number of projects in the energy storage sector?
  • How many new energy storage projects have come online so far in 2020?
  • 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

Global ESS Capacity by Technology

Regional Market Overview

Key Recommendations

Acronyms and Resources


  • Energy Storage: Industry Growth Potential, World Markets
  • Market Drivers and Barriers
  • Cumulative Total ESS Capacity by Technology (Excluding Pumped Hydro), World Markets: 2020
  • Cumulative Total ESS Capacity by Region, World Markets: 2020
  • Projects Colocated with Renewables by Status, North America, Europe, and Asia Pacific: 2020