Coronavirus creates 31% downside scenario for 2020 baseline forecast for US BTM storage market
Though COVID-19’s impacts came to North America weeks after disruption which occurred in Asia and Europe, the effects are now being felt across industries. The North American behind-the-meter energy storage market is no exception, with downside risk abounding from factors including commissioning/interconnection issues, sales challenges and supply issues. This insight examines the impacts that COVID-19 will have on the North American behind-the-meter storage market.
Selected key findings:
- COVID-19 impacts create an estimated 31% downside in 2020 for the US BTM storage market vs. the previous baseline forecast.
- Commissioning and interconnection is the prime challenge resulting from coronavirus.
- Product supply remains less of an issue today.
Wood Mackenzie is dynamically monitoring the impact of COVID-19 on the power & renewables space. Our weekly Coronavirus Impact Update insight covers new developments across wind, solar, storage, power, and electric vehicles (brochure here).