IHS Markit predicts more than 10GW of global energy storage deployments in 2021

Published onFebruary 19, 2021

Analysis and research firm IHS Markit has predicted that over 10GW of new energy storage will be deployed during this year, with around half of those additions in the US market. The company said in a new report that this would be more than double the 4.5GW of global capacity additions in 2020. Meanwhile the US’ strong lead will continue with the market gaining in share until 2023, when IHS Markit senior analyst for clean technology George Hilton said the pipeline in the country reduces. The ITC in the US reduces the tax burden on solar energy projects through to the end of 2025, and applies to energy storage if installed at the same time and co-located as solar projects. While the ITC had been originally expected to expire in 2017, it has been extended twice and remains at 26%.

Source: https://www.energy-storage.news/news/ihs-markit-predicts-more-than-10gw-of-global-energy-storage-deployments-in