Emerging markets outperformed in 2017, especially Australia. According to the global energy storage report released by gtm research, the world's new energy storage capacity is 1.4 gigawatts in 2017, of which Australia adds 246 megawatts, ahead of the United States and other countries, ranking first in the world. This is due to Tesla's record hornsdale energy storage project deployed in Australia, which played a key role in providing 100 megawatts of energy storage capacity at a time. A number of overseas battery manufacturers have set up factories in India to increase interest in supplying products locally or throughout Asia, and have landed at a production base for power batteries and energy storage products.
In the next 3 to 5 years, India is expected to start the application of energy storage technology in electric vehicles, diesel substitution, renewable energy grid connection, power supply in non-electric areas and so on, relying on the continuous improvement of battery product manufacturing capacity. South Korea's deployed energy storage project is moving towards large-scale, including the world's largest user-side energy storage project, Modern Electric Ulsan's 150 megawatt energy storage project. These projects are expected to provide incremental support for the South Korean energy storage market in 2018. South Korea lg chem, Samsung sdi and kokam and other powerful energy storage technology suppliers who have deeply penetrated into the overseas market will provide strong technical support and experience basis for the large-scale development of their domestic energy storage market.
Germany is the country with the largest proportion of energy storage in Europe. In 2017, the growth of household photovoltaic energy storage market in Germany has tended to slow, and the proportion of photovoltaic equipment installed with energy storage systems has increased from 73 percent to 77 percent, with little increase. Still, Germany is the most mature distributed photovoltaic energy storage market in Europe and the most advanced user-side energy storage business model. In 2017, the UK energy storage market ushered in explosive growth, its cumulative investment and storage projects reached 10 times the size of the same period in 2016.
In addition to the German and British markets, the Netherlands, France, Finland, Denmark, Spain, the Czech Republic, Belgium, Russia, Austria and other nine countries have deployed energy storage projects. European wind power developers led by vestas, wind and other European wind power developers actively explore the joint operation of wind storage business model, leading to the rapid deployment of wind storage projects around the world. On the whole, the European energy storage market presents a new and diversified development trend.