The total installed capacity of advanced batteries for utility-scale applications in Asia Pacific is forecast to reach 25.1GW by 2022, according to a new report by market intelligence firm Pike Research.
The report, Energy Storage in Asia Pacific, explains that the majority of the research, development and demonstrations of native energy storage technologies in Asia Pacific are advanced batteries, specifically advanced lithium ion, sodium sulfur, and flow batteries. It reveals that the increasing capacity of advanced batteries is being spurred by the growing interest in renewable energy including solar and wind.
Senior research analyst at Pike Research Anissa Dehamna said: “Many of the countries across Asia Pacific have started to put forth innovative advanced battery technologies and different pathways to market. Most advanced economies in the region, including Japan, South Korea, and Australia, are moving toward smart grid and microgrid energy delivery models, which form natural tie-ins for energy storage, particularly batteries.”
The report also reveals that sodium sulphur batteries constitute the largest number of deployed storage projects in the region. While advanced batteries are expected to play a large role in the development of power sectors across Asia Pacific, bulk energy storage technologies, such as pumped hydro, will continue to play an important role in emerging markets like China.