The capacity of installed hybrid energy storage systems (HESS) is expected to exceed 2GW by 2026.
According to a new report from Navigant Research, global installed HESS power capacity is expected to grow from today’s 78.6MW to 2.1GW in less than a decade.
Market research company Navigant Research has indicated that North America remains the largest market for newly announced energy storage systems.
An estimated 1,997.3 MW of new ESSs have been announced worldwide in 2016 so far, with around 15.8% coming from North America.
"LG Chem and Samsung SDI, both based in South Korea, have market-leading businesses for the electric vehicle and consumer electronics markets, which has created a foundation allowing for economies of scale through manufacturing," says Anissa Dehamna, principle research analyst with Navigant Research. "Both companies have positioned themselves as global manufacturers and can offer consistently low prices for quality Li-ion cells."