BOULDER, Colo.–(Business Wire)–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 2 years ago when the technology was still largely considered too expensive or complex for integration into energy markets. Click to tweet: According to a new report from @WeAreGHInsights, 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%.
“UES is a multifaceted technology capable of providing a range of grid services and improving overall power system efficiency,” says Pritil Gunjan, senior research analyst with Guidehouse Insights. “Although the technology can provide operational cost savings