UK Energy Storage SystemsCompanies (2024 - 2029)

UK Energy Storage Systems Market Companies Summary

The energy storage systems market in the UK has seen significant growth, driven by factors such as the increasing renewable energy sector, supportive government policies and schemes, and improving energy storage economics. However, the market faced a slowdown due to the closure of FiT and other supporting schemes which impacted rooftop solar PV installations. Despite this, the commercial and industrial sectors' increasing adoption of energy storage systems is expected to provide growth opportunities. The battery energy storage systems market in the UK has experienced considerable demand, particularly for lithium-ion batteries due to their declining prices and benefits such as less maintenance, lightweight, reliable cycle life, high energy density in terms of volume, and high charge/discharge efficiency. The integration of these batteries into the smarter electricity grid is expected to support the integration of more low-carbon power, heat, and transport technologies. Additionally, the growth in the renewable energy sector is expected to drive the demand for energy storage systems. Government support, energy security concerns, and declining costs are factors contributing to the growth of the renewable power sector, thus driving the demand for energy storage systems.