CEA’s latest market intelligence report finds energy storage industry on track for annual growth despite COVID-19, and rapid growth over five years

DENVER, CO, UNITED STATES, October 27, 2020 /EINPresswire.com/ -- Clean Energy Associates, a leading solar and storage supply technical advisory, released its semi-annual Energy Storage System (ESS) Supplier Market Intelligence Program Report for 2020. The latest report, which examines the first half of 2020, finds global lithium-ion battery cell production capacity on track to exceed 770 GWh by the end of the year, with year-on-year growth despite COVID-19.

Multiple factors contributed to a slowdown in the rapid growth of the global energy storage market for the first time since 2012. The COVID-19 pandemic disrupted both the global supply of and demand for energy storage. System fires in South Korea reduced confidence in large-scale battery safety among early lithium battery storage adopters, and dissuaded some new entrants from embracing storage opportunities. Growth in China also slowed, due to regulations barring grid-based energy storage system assets from being included in calculations for permitted income.

“Despite the multiple challenges we saw in the first half of 2020, we expect the energy storage market to recover in the second half of 2020, and resume rapid growth in the near future,” said Andy Klump, Founder and CEO of Clean Energy Associates. “Strong demand from Europe and North America will keep rising, as long-term plans to reduce carbon emissions and scale renewable energy deployment kick in. On the supply side, battery manufacturers are actively expanding their capacities to meet the increasing demand from the electric vehicle sector for high-end battery products.”

Strategic partnerships between EV manufacturers and battery manufacturers remain active, with Tesla reaching a supply agreement with CATL, Volkswagen becoming the largest shareholder of Guoxuan, and Daimler partnering with Farasis.

A renewed focus is expected on technologies that demonstrate increased stability and are less prone to fires. BYD’s new LFP ‘blade battery’ is an example of an innovative technology that displays record-setting resilience to thermal events. Flow batteries and solid-state batteries are also viewed as potential alternatives to traditional lithium-ion battery technologies.

The complete report, authored by CEA’s Technology and Quality team, is available by subscription, and includes insights gathered from 1-on-1 interviews with the technical leaders at many of the industry’s leading suppliers. A sample of the Energy Storage System Supplier Market Intelligence Program Report for 2020 can be downloaded for free here.

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About Clean Energy Associates
Founded in 2008, Clean Energy Associates (CEA) is a North American-owned firm, based in China, with over 125 professionals. CEA provides engineering and technical support services for PV and battery storage, including quality assurance, supply chain management, engineering services, and business intelligence and analysis. CEA serves the needs of project developers, Independent Power Producers, Engineering, Procurement, and Construction firms, financial institutions and operations and maintenance firms. Stay connected with CEA via LinkedIn, and subscribe for updates on managing your risk during COVID-19 and beyond.

Lauren Glickman
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