ENERGY STORAGE AS A SERVICE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In August 2024, Ausgrid, a Australia-based electricity distributor, announced the launch of its energy storage-as-a-service offering as a community battery energy storage system (BESS) went online in New South Wales (NSW), Australia. This innovative initiative marks a significant milestone in the integration of renewable energy and the provision of energy storage solutions to local communities.
• In July 2024, Elli, a prominent energy solutions provider, announced its entry into the industrial energy storage business. This strategic move marks a significant expansion of Elli's portfolio, positioning the company to meet the growing demand for reliable and efficient energy storage solutions in industrial applications.
• In June 2024, JSW Energy, a leading player in the Indian energy sector, announced the commencement of construction for its new battery storage services project. This strategic initiative marks JSW Energy's entry into the rapidly evolving battery storage market, aiming to enhance its portfolio and support the growing demand for renewable energy integration and grid stability.
• In April 2024, Schneider Electric, a global leader in energy management and automation solutions, announced the launch of its all-in-one Battery Energy Storage System (BESS) designed specifically for microgrids. This innovative system represents a significant advancement in the field of renewable energy integration and microgrid technology, offering a comprehensive solution for reliable and efficient energy storage.