The annual grid-connected battery energy storage installations grew by 53 percent, reaching 1.9 GW in 2017, according to an energy storage research by IHS Markit. In 2017, the Asia-Pacific region exhibited the strongest growth, led by South Korea, Japan and Australia. The three largest markets in 2017, accounting for over half of all installations globally, were South Korea, the United States and Japan. South Korea overtook the United States in 2017, to become the largest battery energy storage market globally.
The global project pipeline grew to 10.4 GW at the end of the first quarter of 2018, says the consultancy, and forecasts more than 3 GW of battery energy storage to be deployed in 2018.
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