Publications

PUBLISHED
AUTHOR(S)
ABSTRACT VIEWS 231
FILE DOWNLOADS 278
Energy Storage Trends and Opportunities in Emerging Markets

Energy storage is a crucial tool for enabling the effective integration of renewable energy and unlocking the benefits of solar and wind power for emerging markets.  But how big is the opportunity, and how imminent?

 

A new report commissioned by IFC and ESMAP finds that energy storage deployments in emerging markets are expected to grow 40 percent annually over the coming decade, resulting in about 80 gigawatts of new storage capacity. This will be a significant increase upon the less than 2 GW of capacity currently in place.

 

The report outlines the principal uses, drivers, and challenges regarding the commercialization of energy storage technologies in low- and middle-income countries, providing a forecast of expected deployments by region and impacts on energy access, grid stability, and other key areas. Technical review was provided by the U.S. Department of Energy's Clean Energy Investment Center.

 

  1. The largest energy storage markets in the coming decade are expected to be China and India, supported by those countries’ ambitious renewable energy targets.

  2. Latin America is another attractive market for energy storage development, given the region’s renewable energy roll-out plans – particularly in Mexico, Chile, and Brazil. 

  3. In South Africa, storage is expected to be driven by greater integration of renewables.

  4. In MENA, many countries are looking to deploy large amounts of renewable energy to reduce the amount of domestic fossil fuels used for local power generation – freeing up that fuel to be sold abroad, bringing in revenue for government programs.

 

 

Learn more about the ESMAP Renewable Energy Program

Users also downloaded
This report is the first major survey of Tanzania’s mini-grid sector. In it, we shed light on lessons from Tanzania that can help accelerate mini-grid deployment across countries in Sub-Saharan…
October 02, 2017
Digital transformation is affecting multiple industries, including energy. This brief outlines opportunities where big data analytics can address challenges faced by the energy sector.
September 13, 2017
Most public lighting is concentrated in cities, where it can constitute up to 65 percent of municipal electricity budgets. Compared to alternative forms of public lighting, LED luminaries consume…
August 17, 2017
Increasing access to modern electricity services in Sub-Saharan Africa is one of the main development challenges facing the world over the next two decades. The rural economies are overwhelmingly…
August 10, 2017