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Solar energy storage projects will have strong growth in the US until 2023

US energy storage facilities will almost double to 712 MW this year, surpassing South Korea, which is expected to fall below 600 MW “or even more,” according to Camron Barati , senior analyst at IHS Markit.

27/05/2019

Periodicodelaenergia.com

After installing an estimated 920 MW in 2018, the South Korean energy storage sector fell in the first half of 2019 after a series of fires in storage facilities triggered a government investigation currently under way.

The country’s Ministry of Commerce, Industry and Energy, which launched an investigation in January after more than 20 fires, plans to complete the investigation in June, according to a recent article in The Korea Times .

In January, the agency asked public institutions, large multipurpose facilities and private owners to close their energy storage systems, while suppliers were forced to interrupt shipments, affecting the financial results of large companies. Manufacturers of LG Chem and Samsung SDI batteries .

“Both companies expect market activity to recover in the second half of 2019. Meanwhile, IHS analysts see the US market moving forward, driven by” important regulatory and policy developments, as well as the diversification of the main applications and geographical activity, “says Barati in the research note.

These developments include an order from the Federal Energy Regulatory Commission to open wholesale electricity markets, the ability of developers to use the federal investment tax credit for storage projects that charge solar power, new mandates and storage incentives at the same level. state, and an increase in facilities.

Between 2019 and 2023, more than 2,000 MW of energy storage will be installed paired with 10,000 MW of large-scale photovoltaic systems in the United States, according to IHS forecasts. The firm estimates that the combination of 25 MW of four-hour batteries with a 100 MW single-axis tracking photovoltaic plant could achieve a level energy cost below $ 40 / MWh if the developer qualifies for the federal tax credit. the investment.

About 4,300 MW of energy storage connected to the grid will be added worldwide in 2019, according to IHS, with annual facilities that will increase to more than 10,600 MW by 2025. The strongest prospects in the United States, China, Japan and Australia led to analysts to increase their previous forecasts until 2025 at approximately 3,530 MW.

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