The global commercial and industrial (C&I) energy storage market is primarily concentrated in China, the United States, Europe, Japan, and other regions. Below are some key insights and data points from various sources regarding the market’s development and trends:
China
According to the White Paper on Commercial and Industrial Energy Storage released by Sungrow, the newly installed capacity of C&I energy storage in China reached 3.5 GWh in 2023, representing a year-on-year growth of approximately 300%. This rapid growth reflects China’s increasing investment in renewable energy and energy storage technologies.
United States
Data from the joint report by Wood Mackenzie, “U.S. Energy Storage Monitor: US Solar Market Insight: 2023 year-in-review,” indicates that the newly installed capacity of C&I community energy storage in the U.S. was 0.123 GW/0.338 GWh in 2023. The report predicts that the continuous reduction in energy storage system costs, along with incentives and the introduction of NEM 3.0, will drive the growth of C&I energy storage in the future. It is estimated that by 2028, the annual newly installed capacity of C&I energy storage in the U.S. will reach 1.2 GW.
Germany
According to IESE data, as of December 2023, the total installed capacity of C&I energy storage in Germany was 0.448 GWh, with 0.169 GWh of new installations added that year, reflecting a year-on-year growth of 60.8%. This growth is driven by Germany’s strong emphasis on renewable energy and energy storage solutions to enhance energy security and sustainability.
Market Dynamics and Strategic Moves
Multiple C&I energy storage companies completed the necessary overseas certifications for their products in 2023 and have started to secure a significant number of orders this year. For these companies, competing on price, service, and solutions in the domestic market is intense. However, expanding overseas is emerging as a new opportunity for these companies to achieve competitive advantage through strategic differentiation. This trend of “going abroad” is seen as a potential pathway to outpace competitors and capture new market opportunities.
The global C&I energy storage market is experiencing rapid growth, with significant developments in China, the U.S., and Europe. The reduction in energy storage system costs and supportive policies are key drivers of this growth. Companies in this sector are increasingly looking to expand internationally to leverage new market opportunities and achieve competitive advantage.
