Battery Storage Market Remains Robust Despite Coronavirus Delays

The COVID-19 pandemic has disrupted supply chains around the world, including for battery storage in the US, but technological advances and rising demand ensures the disruption will likely be a temporary speedbump. S&P Global interviewed CEA CEO, Andy Klump on what impact he expects to see:

COVID-19 Impact on Battery Storage Supply Chain

"I think, in the short term, there's not going to be as much of an impact," said Andy Klump, noting that while there may be some delays, many storage projects under development are slated for 2021 operation dates. "While a lot of them are being permitted and developed as we speak, it was really for next year, so some of those may also slide into 2022," he said.

While the coronavirus will have a short-term impact on the financing and construction of battery storage projects, Klump believes the market will be quick to rebound from any lag.

"I still think the segment's very robust, it's still going to go through a hockey stick-like growth the next two to three years," Klump said. "That hockey stick may be pushed off by three to six months because of this. A lot of projects in the pipeline are really solar-plus-storage. We will see more and more storage adoption within the U.S. and I think that's going to accelerate cost reductions and allow more folks to participate in the U.S."

Read the full S&P Global Market Intelligence interview and article, ‘Battery storage market remains robust despite coronavirus delays.’