October 15, 2020
Guidehouse: China’s demand for utility-scale storage will see Asia-Pacific overtake North America
North America is currently leading the world for utility-scale energy storage deployments, but could be overtaken by the second-largest market, the Asia-Pacific region, as early as 2023, according to forecasting and analysis by Guidehouse Insights. The Asia-Pacific region by 2029 is expected to achieve a compound annual growth rate in energy storage installations of 39.4%, with a cumulative 60,747.4MW of new utility-scale capacity expected to be added between this year and then. In 2020, the region will add around 554MW of new large-scale storage.
