The reports new 227 page report Grid Scale Battery (GSB) Market Forecast 2015-2025: The Future of Lithium-ion, Flow, Sodium-based, Advanced Lead Acid and Other Batteries on the Grid highlights that the grid scale battery market will see capex of $717m in 2015, with substantial growth expected over the next ten years.
The grid scale battery (GSB) storage market is largely an emerging one, especially when compared with other energy storage systems such as the well-established pumped hydro storage. Grid scale batteries are arriving at commercial viability, having been the subject of numerous demonstration projects. They posses numerous advantages over competing technologies, such as the precision and quality of the service they can provide to grid operators and the lack of geographical constraints experienced by technologies such as CAES and PHS.
The lead energy analyst of the report commented that: “The regulatory frameworks and the market environments around the world are moving towards the direction of more grid scale battery storage being deployed on the grid to perform ancillary services. Pressed by high and rising amounts of renewable energy capacity brought online each year, an increasing number of governments around the world are considering adopting new regulatory requirements favouring the commissioning of grid scale storage systems, such as capacity payment mechanisms rewarding the best-performing back-up technologies for frequency regulation or mandatory targets for the installation of new storage capacity. In addition to this, production costs are consistently declining due to technological improvements, gained experience and mass production.
Just as decisively, a larger wealth of performance data are becoming available each year as pilot projects are completed all around the world, providing producers, operators and prospective clients with key information on the reliability and safety of each battery technology once applied outside the laboratory. The report expects the grid scale battery storage market to grow considerably over the next 10 years for grid ancillary services, peak electricity demand shaving, energy efficiency and renewable energy integration.”
The market has been broken down into the main battery technologies (Lithium-ion, Flow, Sodium-based, Advanced Lead Acid and Other Batteries), with ten-year capex forecasts provided for each. The report also contains forecasts for the 7 leading national markets (China, Germany, Italy, Japan, South Korea, United Kingdom and United States), plus the rest of the world market, in three scenarios, as well as profiles of the leading companies in the market. In addition, the report contains transcripts from 7 extended interviews with companies involved in the grid scale battery market (ABB, AES, American Vanadium, Imergy, S&C Electric, ViZn Energy and Younicos), who provide expert opinion alongside the reports analysis.
The Grid Scale Battery (GSB) Market Forecast 2015-2025: The Future of Lithium-ion, Flow, Sodium-based, Advanced Lead Acid and Other Batteries on the Grid report will be of value to anyone who wants to better understand this rapidly growing market and its dynamics. It will be useful for businesses already involved in the grid scale battery market, or for those wishing to enter this growing market in the future.
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Source: ASDReports - Market Research
Date: Sep 1, 2015