Market Report
APeC Distributed Energy Storage Report 2024
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Report summary
Asia Pacific’s distributed storage segment is growing significantly. Wood Mackenzie forecasts that total distributed storage capacity in the Asia Pacific, excluding China (APeC) market will surpass 68 GWh by 2033. APeC markets, such as Australia and Japan, with non-regulated tariff structures, have seen rapid growth in the distributed storage segment. The growth of distributed storage is linked to distributed solar capacity, now the primary source of power capacity addition in APeC. We expect growth in distributed storage as costs continue to slide for both solar and storage. This report looks at the emerging APeC distributed storage segment and provides 10-year forecasts for 14 Apec markets. The results highlight the latest trends, summarise the main drivers and barriers, and outline strategic takeaways for different industrial players and governments.
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