Energy Storage Contracts Down 34 Percent in Q3 2019

Energy storage contracts in the third quarter of 2019, saw 23 contracts announced, marking a drop of 34 percent over the last four-quarter average of 35.

Energy storage contracts in the third quarter of 2019, saw 23 contracts announced, marking a drop of 34 percent over the last four-quarter average of 35, according to GlobalData’s power industry contracts database.

The proportion of contracts by category tracked in the quarter was as follows:

• Supply & Erection: 11 contracts and a 47.8 percent share
• Power Purchase Agreement: five contracts and a 21.7 percent share
• Project Implementation: four contracts and a 17.4 percent share
• Consulting & Similar Services: two contracts and an 8.7 percent share
• Repair, Maintenance, Upgrade & Others: one contract and a 4.3 percent share.

Comparing contract activity in the energy storage segment in different regions of the globe, North America held the top position with 12 contracts and a share of 52.2 percent during Q3 2019, followed by Asia-Pacific with four contracts and a 17.4 percent share and Europe with four contracts and a 17.4 percent share.

The report further added that among the technologies, solar accounted for 13 contracts with a 72.2 percent share, followed by wind with three contracts and a 16.7 percent share and thermal with two contracts and an 11.1 percent share.

The top issuers of energy storage contracts for the quarter in terms of power capacity involved were:

1. City of San Jose (United States): 110 MW from one contract
2. New York Power Authority (United States): 20 MW from one contract
3. East Bay Community Energy (United States): 7.5 MW capacity from two contracts.

And the top winners of contracts for the quarter in terms of power capacity involved were all based in the United States:

1. EDP Renewables North America (United States): 110 MW from one contract
2. O’Connell Electric (United States): 20 MW from one contract
3. esVolta (United States): 7 MW capacity from one contract.

Recently, the research agency had also informed that the solar technology tenders activity in the same quarter saw 314 tenders announced, marking a drop of 26 percent over the last four-quarter average of 427. Looking at global power tenders activity divided by the type of technology, solar held the second position in terms of the number of tenders during Q3 2019 with a 38 percent share.