The UK is expected to install 1 GW of new energy storage capacity by 2020 in response to needs of the renewable energy sector, rising consumer electricity prices, the launch of a frequency regulation tender and other drivers. This prediction was made by IHS analyst Marianne Boust at the recent "Energy Storage: The New Market Dynamic" event in London that was organized by the Renewable Energy Association.

Marianne Boust, IHS Technology. Boust says that while the U.S, Japan and South Korea comprise the top three energy storage markets in the world, this could change rapidly. As it stands, the three markets represent around 59% of the total global market.

Boust says that due to a lack of clarity on the future of UK governmental policy, potential exists for growth there to be inhibited.

"For small investors, like residential PV owners, we believe it is already worth to add storage because it can lead to significant reduction on the overall electricity bills for the years these systems will be operational," says Boust.

She also says that while residential and commercial storage systems have received the most attention in the UK, ancillary services via energy storage systems are expected to rise. Storage system market growth via frequency control markets is also anticipated.