, Australia
Source: Tayssir Kadamany (Pexels)

US, Australia amongst leading battery systems market: report

The markets account for 55% of projects globally, Fitch Solutions reported.

The United States and Australia are amongst the leading markets globally for the development of battery systems,  Fitch Solutions reported. 

The markets combined account for 55% of projects in the pipeline, according to Fitch’s Key Project Database. 

The US currently has 115 battery storage projects in various stages of development. This is expected to have a non-hydropower renewables capacity of 608 gigawatts by 2031. 

Australia, meanwhile, has 41 grid-connected battery and 50 hybrid battery storage projects in the pipeline. 

Read more: Where to put big batteries within Australia’s ‘skinny grid’

Fitch noted that battery systems are the leading storage technology type. Of the nearly 500 energy storage projects, 43% were hybrid projects, whilst compressed air and thermal storage accounted for 2% and under 1%, respectively.

“We believe that battery storage will continue to outperform all other types of energy storage, as it is currently the most cost-effective energy storage solution with costs expected to decline significantly over the coming decade,” Fitch noted.

“The National Renewable Energy Laboratory (NREL) expects lithium battery system costs to fall by 40% by 2030.”


Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


PLN Icon Plus provides bundling solutions to expand PV Rooftop services
The company utilised the PLN app, downloaded by 43 million users, to streamline installations and monitor energy consumption efficiently.  
Cambodia’s 18-year energy plan sets ambitious targets for renewables
To attain energy security, Cambodia will have to overcome investment challenges, cut wasteful consumption, and review pricing policies.