Abstract
The stationary utility energy storage market is very much in its nascent
stages. Most industry participants believe that energy storage technologies
have a large role to play in the electricity grid of the future. The demand is
being driven by several key trends, including the proliferation of
intermittent renewable energy sources such as wind and solar, the onset of the
smart grid concept, and a shift to plug-in hybrid and electric vehicles, to
name just three. Because energy storage technology providers are selling into
the slow-moving regulated utility market, the adoption process will be longer
than one might predict, given the apparent growing market need. However, over
the coming years, energy storage is likely to enjoy significant adoption by
utilities in North America and other global markets.
The U.S. Department of Energy estimates that, for every gigawatt of wind
capacity added, 17 megawatts of spinning reserves must also be built to
account for the system' s variability. Also, utilities are building capacity to
meet so-called needle peaks in electricity usage that only occur for a small
number of hours each year. It is expensive and inefficient to size capacity to
these peaks, and energy storage can play a large role in supplanting peaking
generation. However, unlike solar and wind, energy storage technologies have
historically received very little support in the form of government subsidies
and incentives. This tide is starting to turn, and new commitments from the
U.S. government, combined with greater interest from forward-looking
utilities, are pointing the way to a strong market opportunity for energy
storage.
This Pike Research report analyzes the global energy storage market
opportunity from several key perspectives. It includes a detailed examination
of the strengths, weaknesses, technological capabilities, and economics of
various energy storage technologies, including an assessment of the market
prospects for each. The report also analyzes the market drivers, barriers, and
regulatory/legislative issues associated with energy storage markets. In
addition, it includes granular market forecasts, segmented by technology and
world region, along with profiles of key market participants.
Key questions addressed:
- What is the current size of the Energy Storage technology market by
technology and region of the world?
- What are the key drivers and inhibitors of growth for Energy Storage
technologies?
- Which Energy Storage technologies are likely to gain the largest market
share in the future and why?
- What are the costs of Energy Storage technologies today, and what are the
future pricing trends?
- What are the key applications for Energy Storage technologies?
- Who are the key industry players in the Energy Storage technology market?
Who needs this report?
- Energy Storage technology providers
- Utilities
- Solar and wind technology vendors
- Solar and wind project developers
- Distribution, installation, and service providers
- Venture capital and other equity investors
- Government agencies, associations, and non-profit organizations
- Consulting firms and investment banks focused on Energy Storage
technologies
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