Global Energy Storage: 2017 Year-in-Review and 2018-2022 Outlook

by Ravi Manghani, Rory McCarthy

2017 was one of the most exciting years yet for energy storage, as several markets saw formative policy developments, interesting business models materialize and a rush of corporate merger and acquisition activity. A total of 1.4 gigawatts and 2.3 gigawatt-hours of energy storage was deployed globally in 2017, with Australia taking the pole position in terms of power capacity at 246 MW, while the U.S. market led the world in terms of energy capacity at 431 MWh.

Annual Energy Storage Deployments by Market, 2017 (MW and MWh)

This report provides an overview of changes in the global energy storage markets in 2017, as well as expectations and outlooks for 2018 through 2022.

The full report is available to subscribers of GTM Research’s Energy Storage Service which now includes global project tracking, forecasts by country by segment, and annual access to storage market reports. In addition, you’ll have the ability to interface with our Energy Storage Analysts and get a pass to GTM’s Energy Storage Summit.


To learn more, please contact storagesubscription@gtmresearch.com.

Ravi Manghani Director, Energy Storage

Ravi is the Director of Energy Storage at GTM Research, where he focuses on global energy storage markets and value chain analysis. As an industry expert, Ravi has been quoted in various publications including New York Times, Wall Street Journal, Washington Post, Forbes, Bloomberg, Christian Science Monitor, Wired, and Verge.

Rory McCarthy Senior Analyst, Energy Storage

Rory is a Senior Analyst with the Energy Storage team at GTM Research, where he focuses on the European storage market. He previously worked at an early-stage tech firm, supporting the development and deployment of grid-scale front and behind-the-meter storage projects in the UK. Prior to this, Rory worked at Ofgem on policy and regulation development for the grid edge. He has over six years of experience in the energy space and a previous career in IT. Rory holds a Master’s degree in Environmental Technology and Energy Policy from Imperial College and an undergrad degree in Computation from the University of Manchester.

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