NewEnergyNews: HOW ASIA PACIFIC WILL STORE ENERGY

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  • Friday, November 02, 2012

    HOW ASIA PACIFIC WILL STORE ENERGY

    Energy Storage in Asia Pacific; Market Environments, National Policy, Industry Analysis, Technology Development, and Market Forecasts

    4Q 2012 (Navigant/Pike Research)

    “Governments and industries in the Asia Pacific region…[are] struggling to keep pace with new trends in global clean energy development. Due to the diverse applications and benefits of energy storage systems (ESS), most Asia Pacific nations have begun to pay attention to deployments of these systems…

    “…[D]emand for ESS varies on a market-by-market basis and each nation in Asia Pacific is at a different level of resource development, as renewable energy capacity and electricity consumption rise…[T]he number of ESS projects deployed in Asia Pacific will climb as well.”

    “Japan, Australia, and South Korea are driving the adoption of ESS to enhance the overall system efficiency of the grid, improve the management of existing assets, and maintain a more efficient balance between load and generation…[G]overnment and market stakeholders in China are entering the stage of sophisticated R&D analysis for bulk storage-level system designs…Falling costs and increased efficiency through technology innovation will likely play an important role in opening up ESS markets in developing nations such as India…

    “…[T]he ESS market is still in the technical demonstration phase in most countries of Asia Pacific. Pike Research forecasts that cumulative installed capacity of ESS in the region will surpass 25,082 megawatts (MW) by 2022, with nearly 6,400 MW of capacity added that year. Pike Research forecasts that the market value for this capacity will be more than $12 billion in 2022.”

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