International. Global distributed energy storage system (DESS) capacity is estimated to grow from 276 MW in 2015 to nearly 2,400 MW in 2018. The data also reveals the analyses of the global DESS market, including the global market forecasts for power capacity, power capacity, and revenue till 2024.
"Distributed storage is one of the fastest growing markets for energy storage globally. In particular, residential and commercial energy storage is expected to be the focus of technological advancements and market activity in the coming years," said Anissa Dehamna, senior research analyst at Navigant Research, which produced the study.
Due to rapid innovation and intense competition, the DESS market has exceeded industry expectations in terms of growth and market volume in recent years. In response to this demand, grid operators, utilities, and governments are encouraging storage facilities that are physically located closer to the retail electricity customer.
Growth in this market is being driven by the development of advanced chemical batteries, particularly lithium-ion (Li-ion). At the same time, the expansion of solar PV, electric vehicles, electric vehicle charging and home energy networks are creating all the new applications and new demand for DESS. By 2024, the report finds that total capacity worldwide is expected to exceed 12,000 MW.
