(REPOST: Clean Energy)
Lauren Cook of Solar Media’s Market Research division spoke to CEN sister publication Energy-Storage.News this week on the publication of ‘UK Battery storage: Opportunities & Market Entry Strategies for 2018-2022’, a new report.
Cook found that in just 12 months, the UK’s pipeline for new battery storage projects has grown by over 240%, with forecasted installations in 2018 set to rise more than 200% year-on-year. Opportunities are being created by a range of drivers including a national commitment to phase out coal, falling technology costs and more than 30GW of wind and solar capacity ripe for co-location with batteries.
“The market is growing and it’s changing rapidly. There’s now projects completed on the ground. Once global companies start to see it’s not just a speculative market, it will make sense for them to think about how to enter the market and what the opportunities are for them.
“They will then need to know who is active in the market, who has these opportunities and who they will have to work with to take advantage of those opportunities.”
Going beyond the deployment figures, Solar Media Market Research also looked extensively at business models, another aspect of the industry analyst Cook said is changing fast. With an emphasis on projects earning long-term revenues, it is becoming commonplace to speak of a “revenue stack” – earning multiple revenues streams for providing a range of services. However, Cook said, there is no such thing as a “typical” stack in the market today.