Stationary storage deployments set to bounce back in 2020
Just like for EVs, 2019 was a mixed year for stationary storage. Bloomberg New Energy Finance’s (BNEF) 1H 2020 Energy Storage Market Outlook highlights that energy storage deployments globally shrank in 2019. This was the first negative growth year since 2012. The big slowdowns took place in Asia Pacific and the US, although European markets grew substantially. The driver behind the slowdown in Asia was the energy storage fires in Korea. In 2018 there were 4GWh of energy storage deployments in the Korean market (making it the world’s largest storage market) but this fell to only 900MWh in 2019 after...