Recently, TrendForce released a report saying that the cumulative installed capacity of renewable energy in the world in 2021 will be about 3,064GW (gigawatts), with an average annual growth rate of about 8%-10%. Among them, wind energy and photovoltaic accounted for 88%, which were the highest application fields.
The report pointed out that the global energy storage market will maintain a high growth trend in 2021, with newly installed capacity of 29.6GWh, a year-on-year increase of 72.4%. It is estimated that the global energy storage market will usher in rapid development in the next 5-10 years. The newly installed capacity is about 362GWh.
Judging from the current growth rate of the energy storage market in various countries, China is about to overtake the European and American regions. The main growth force comes from the generation side. It is expected that by 2025, the Chinese energy storage market will exceed 100GWh.
In addition, the report predicts that the newly installed capacity in the United States will reach 136GWh in 2025; it is predicted that the newly installed capacity in Europe will reach 54GWh in 2025.
