Anchor Group has published a white paper on “Utility-scale energy storage at the inflection point”. Based on and extending work done with some of our clients – leading energy firms in Europe and India – we landscaped a universe of approximately 90 companies over a 6-month period. Our findings indicate a market poised to grow rapidly, with several emerging vendors looking to challenge the incumbent technology and an opportunity for leaders to substantially reshape the market.
Demand for utility-scale energy storage is poised to explode over the next decade, with a project pipeline of 15GWh globally at the end of 2018. Emerging markets, in particular India and China, will drive a significant portion of this growth driven by expansion of renewable and distributed energy sources, supportive regulation, and improving economics. India, in particular, is seeing substantial demand for energy storage technologies, given the need to expand the country’s technology base.
Looking at applications for stationary storage in general and grid-scale storage in particular, we landscaped approximately 90 companies globally and developed a thesis on the future of the market. Our findings suggest a landscape that is fragmented but with substantial innovation in technologies and approaches that will change the solution set available to energy companies.
In this emerging landscape, finding and capturing investment and new business development opportunities– whether strategic or financial – requires taking a holistic view, developing specific solutions and marrying them to the right business model. For those that can do so, storage offers the same opportunity today, as solar PV or wind did over the last decade.