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.

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.

What is the future of energy storage?

Chart 3.1 provides forecasts for new energy storage capacity and revenue for each of the six major developing regions identified in this report. The development of distributed and local energy resources, including renewables and energy storage, can provide significant economic growth, jobs, and a sustainable energy future in emerging markets.

Why is energy storage important?

Energy storage is a crucial tool for enabling the effective integration of renewable energy and unlocking the benefits of local generation and a clean, resilient energy supply. The technology continues to prove its value to grid operators around the world who must manage the variable generation of solar and wind energy.

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.

What is the business case for energy storage in a remote power system?

This project is scheduled to come online in 2017. Overall, the business case for energy storage in a remote power system is built primarily around the ability of storage to maximize renewable generation use and minimize peak load, with secondary benefits including ensuring the overall stability of the system.