HOW GLOBAL BATTERY ENERGY STORAGE WILL GROW

Market Data: Advanced Batteries for Utility-Scale Energy Storage; Lithium Ion, Sodium-Metal Halide, Sodium Sulfur, Flow, and Advanced Lead-Acid Batteries: Global Market Analysis and Forecasts

1Q 2016 (Navigant Research)

“…Battery energy storage solutions and energy storage system (ESS) components have demonstrated that value can be delivered…Regional transmission and distribution (T&D) system organization and power market regulators…are enacting new rules to allow battery ESSs to participate…[N]ew business models and associated financing instruments are coming together to invest capital…The emergence of a new generation of advanced batteries that are safe, low cost, and efficient enough to allow for storage on the grid is instrumental to the further development…Lithium ion (Li-ion) batteries have emerged as the leader…Flow batteries have the potential to deliver long-duration energy storage applications at lower costs, while advanced lead-acid batteries have proven to be excellent performers in power-intensive applications. The Asia Pacific region is expected to see the highest growth in advanced batteries for utility-scale applications during the next 10 years, though growth is also forecast to be strong in North America and Western Europe. According to Navigant Research, global revenue for advanced batteries for utility-scale storage is expected to grow from $231.9 million in 2016 to $3.6 billion by 2025...” click here for more

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