Can emerging markets benefit from energy storage?

In emerging markets around the world, there is only limited experience with energy storage, yet vast potentials exist to benefit from the technology. Many of these markets share similar energy market dynamics and needs for new resources.

What is the market for energy storage in South Asia?

The market for energy storage in the South Asia region is dominated by India. (See Chart 3.4). In India, several key factors are driving the market for energy storage, perhaps most notably the ambitious National Solar Mission.

Is China entering a new era of energy storage demand?

Mainland China accounts for most of the global energy storage demand, driven in the near term by regional requirements for new utility-scale wind and solar projects to include energy storage capacity. However, the Chinese market is entering an era of change.

Can energy storage technologies help drive development in emerging economies?

Energy storage technologies hold significant potential to help drive development in emerging economies by improving the quality of the electricity supply and facilitating the effective integration of renewable energy.

Where will the new energy storage capacity be deployed?

As shown in Chart 3.8, a significant portion of the new energy storage capacity expected to be deployed in Latin America and the Caribbean will likely come from remote power systems. Most of this new capacity is anticipated to be in physical island microgrid systems.

What will the energy storage industry look like in East Asia & Pacific?

Additionally, in many of these areas the industry is likely to adopt a more distributed approach to grid development, using more local power generation and microgrid systems. We expect that the largest energy storage market in the East Asia & Pacific region will be China.