NewEnergyNews: GLOBAL STORAGE SYSTEMS MRKT TO GROW 40X

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    Friday, April 03, 2015

    GLOBAL STORAGE SYSTEMS MRKT TO GROW 40X

    Energy Storage Enabling Technologies; Power Conversion, Software and Controls, and Systems Integration Services: Global Market Analysis and Forecasts

    1Q 2015 (Navigant Research)

    “The grid-tied energy storage market is poised to take off. However, pricing remains inconsistent and economies of scale have yet to translate into accessible system costs for the end user. Energy storage systems (ESSs) consist of a core storage technology—such as an advanced battery or a flywheel—as well as power conversion systems, software, and controls…Energy storage enabling technology (ESET) is a portion of the energy storage value chain undergoing intensive scrutiny. While battery prices have fallen anywhere from 40% to 60% in the past 18 months thanks to manufacturing innovations and volumes, ESSs still vary wildly in terms of price...[B]attery prices have responded to cost pressures…[Now]the ESET portion of system cost…is under more pressure to deliver more consistent pricing. Once this happens, more transparency in overall ESS pricing is expected, allowing the industry to scale further. According to Navigant Research, global installed ESET revenue is expected to grow from $605.8 million in 2015 to $21.5 billion in 2024…” click here for more

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