In a Utility Dive Brief, Guidehouse Insights discusses how COVID-19 is pushing out energy storage market leaders as competition intensifies
The energy storage sector is experiencing a drastic shift in market share brought on by increased competition, costs, operations, and the ongoing coronavirus pandemic.
Referencing findings from a Guidehouse Insights report, a new brief from Utility Dive explained how the pandemic is evolving the market and what companies should do to adapt to these changes.
According to Ricardo Rodriguez, research analyst at Guidehouse Insights and the report’s author, the energy storage market is both shrinking and growing as existing firms swallow competition and new players enter the market.
The report explained that companies have begun shifting focus away from the origination and development of projects to acting as pure-play integrators that provide integrated hardware and software solutions.
Rodriguez added that the top competitors in the field are those capable of providing innovative financing, integrated software platforms, and the ability to forecast future revenue streams.