S&P Global: Solar Dips, Battery Storage Soars in 2026 Cleantech List
By ThePip Desk
S&P Global’s 2026 cleantech list shows a major market shift: solar installations projected to decline as battery storage rapidly expands. Discover the key trends.
🔥 Main Takeaway
S&P Global Energy’s 2026 cleantech list reveals battery storage is exploding while solar faces its first-ever projected decline, signaling a major market shift.
📌 What Happened?
S&P Global Energy dropped its 2026 Tier 1 cleantech companies list, spotlighting top global suppliers in solar, wind, and energy storage sectors.
The list now features 15 PV module suppliers, 12 inverter manufacturers, 10 wind turbine suppliers, 12 energy storage system providers, and a new category for 10 battery cell producers.
Global solar photovoltaic installations are anticipated to experience their first-ever decline in 2026, with only a modest recovery expected from 2027 onwards.
Wind capacity additions are projected to maintain a steady but moderate growth trajectory.
In stark contrast, the battery storage sector is identified for rapid expansion, driven by rising electricity demand from electrification and data centers, alongside the critical need to stabilize power grids.
💰 Why It Matters
This signals a massive pivot for investors: traditional solar might be cooling off, but energy storage is emerging as the hot new play.
The solar manufacturing industry has endured three years of oversupply, leading to falling prices and compressed margins, which is driving consolidation as weaker companies exit or are acquired.
Many solar firms are already diversifying into battery energy storage systems (BESS) to tap into new revenue streams and offer integrated solutions.
New regulations in Europe and the US concerning local manufacturing and cybersecurity are adding pressures and compliance demands for inverter suppliers.
The updated Tier 1 framework for 2026 now incorporates credit risk via RiskGauge and sustainability performance, providing a more robust benchmark for identifying reliable partners.
👀 What to Watch Next
Keep an eye on continued consolidation within the solar industry as financial pressures persist for many suppliers.
Watch for more cleantech companies to pivot and diversify into the rapidly growing battery energy storage market.
Future regulatory developments in key markets like Europe and the US will significantly influence procurement and supply chain strategies, especially for inverter segments.
The increasing electricity demand from data centers and broader electrification initiatives will continue to fuel the rapid expansion of battery storage solutions globally.