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Global Energy Storage Capacity to Multiply 100-Fold by 2021

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Although energy storage solutions such as compressed air and pumped storage have been around for decades, they have not had significant success in the global market when compared to the substantial increase in grid capacity over the past 50 years. Now, however, energy storage on the grid is reaching a turning point. Numerous new technologies — and variations on “old” technologies, such as compressed air and pumped hydro storage — are being demonstrated in countries around the world. To meet the growing opportunity, utilities, grid service providers, and equipment suppliers are all intensifying their efforts in the energy storage arena. According to a recent report from Pike Research, total energy storage capacity worldwide will increase from 121 megawatts (MW) in 2011 to 12,353 MW in 2021 — multiplying 100-fold over a 10-year period. Full Article

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