In the first quarter of 2018, the cumulative global energy storage capacity reached 10.4 GW

New energy storage data released by IHS Markit shows that by the end of the first quarter, the global energy storage project capacity will reach 10.
4 GW, an increase of 53%
year-on-year.

In the first quarter of 2018, the cumulative global energy storage capacity reached 10.
4 GW

IHS Markit's data comes a week after GTM Research's first energy storage market report shows similarities and differences
.

Last week's GTM report found that 1.
4 GW of new energy storage capacity was added across industries in 2017, with the U.
S.
leading the way in installed capacity at 431 MW
.

At the same time, data from IHS Markit shows that 1.
9 GW of new energy storage capacity was installed worldwide in 2017, and South Korea surpassed the United States to become the world's largest energy storage market
.
Analysts found that these two countries, along with Japan, accounted for more than
half of the new global energy storage capacity in 2017.

IHS Markit expects that the global new energy storage capacity will reach 3 GW
this year.

In addition to these numbers, IHS Markit has identified four global trends
for this year.
These include the growth of jointly built solar + energy storage projects that will account for about 40% of front-end (utility-scale) energy storage capacity in 2018; From 2023, the growth of end-of-meter (residential and commercial) energy storage capacity will account for more than half of new energy storage capacity; Battery storage will continue to challenge gas-fired peak power plants to meet California's capacity needs, driving significant growth in battery storage in the state
.
In addition, new energy storage deployment targets in many markets are driving more integration and adoption
of the technology.

IHS Markit said: "The global battery energy storage market achieved significant growth
at the beginning of 2018.
Emerging business models such as peak gas substitution and renewable solidification have been successfully demonstrated, leading to strong growth
in energy storage projects worldwide.
”

The market performance in the first quarter was very buoyant, based on
encouraging policy development.
In the United States, this development included the enactment
of Federal Energy Administration Order 841.
The decree will remove major obstacles
in many wholesale markets across the country.
In addition, New York State has set a 1.
5 GW energy storage target, while Austria has launched a small solar + energy storage subsidy program
.

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