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.

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

Fitch Solutions

APAC Energy Storage Market

Also Read

MGen’s $4b Terra Solar plant to aid Philippine RE transition

What is the future of gas in Australia's energy market?

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!

I want to download the media kit

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition

Some steps they could take are implementing green tariffs and setting infrastructure funds.

20 hours ago

Global clean energy tech market to hit $2t by 2035

This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

20 hours ago

NSW OKs Liverpool Range Wind Farm expansion