AI "boosts" energy storage systems - Global demand for these networks could increase by 40% in 2026
The growing demand for power from artificial intelligence data centers in the U.S. is expected to drive a strong expansion cycle for the energy storage industry over the next five years. This will increase the need for more batteries to balance intermittent wind and solar generation, according to UBS Securities. Analysts say global demand for energy storage systems could grow by 40% by 2026.
“Demand for data centers in the US is very strong, but electricity is the main constraint,” they point out. Renewable energy is the only generation segment expected to expand significantly in the US over the next five years. Due to its volatile nature, the grid will need more energy storage capacity.
The United States remains crucial for Chinese manufacturers of these systems, which hold about 20% of the market, as the country offers the highest profit margins. However, emerging markets in the Middle East, Latin America, Africa and Southeast Asia could see the fastest growth, with growth rates ranging from 30% to over 50%.
The biggest threat to Chinese exports to the US is the restrictions imposed by President Donald Trump's new law, which bans Beijing-controlled companies from participating in the US energy sector. Meanwhile, in China, the shift to market pricing for renewables is expected to further boost energy storage projects. The latter benefit by buying when prices are low and selling when they rise.
UBS expects Chinese provinces to start offering additional payments to battery owners as a reward for having them ready when power is needed, which will further boost investment in storage systems.
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