Analysis from ASDReports says the grid scale battery storage market will reach $1.2 billion in 2013. The grid scale battery market, say report authors, is one of the most vibrant sectors of electricity market. Many innovative companies are striving to bring their battery products up to the standards required to penetrate this high potential industry.
The growing penetration of intermittent and decentralized power generation in a number of countries around the world is causing considerable stresses on transmission systems designed for more consistent centralized power generation. Improving the efficiency of transmission through smart grids and optimized transmission infrastructure using energy storage creates considerable cost savings on generation fuel costs, lowering greenhouse gas emissions and slashing power waste related to backup and spinning reserves. Batteries will play a key role in this development because they can provide power management (peak shaving) and power quality (voltage fluctuation), both key issues in improving the transmission of electricity. The grid scale battery storage market is a fledging and vibrant market with much potential for future growth.
The lead analyst of the Grid Scale Battery Storage Market report commented that ‘Large scale battery storage remains an expensive method of improving efficiencies in the grid, and as such incentives or subsidies remain essential to the market. Ownership of storage capacity by transmission and distribution companies is vague in many countries and amendments to this would enable them to own energy storage assets, providing more efficient electricity transmission. While utilities remain slow on storage uptake, the growing penetration of renewable energy forces the requirement of energy storage to smooth out intermittency in generation. Grid scale batteries therefore play a critical role in the future of electricity supply.’
The report contains 138 tables, charts and graphs that add visual analysis and portray the grid scale battery storage industry projects, investment forecasts and trends over the next ten years and beyond. The study provides global and national market forecasts for 2013 to 2023 in terms of investment value (US$) in the grid scale battery storage market. In addition, five submarkets are forecasted and analyzed from 2013 to 2023, including: lithium ion, advanced lead acid, flow batteries, sodium sulfur, and miscellaneous battery chemistries. Details of past, current and planned renewable energy trends and government regulations that will affect the future growth of the grid scale battery market are also identified and analyzed.
The report provides profiles of 27 large scale battery producer companies and provides an overview of smaller players in the market. In addition, this report includes 4 interviews with principal industry experts, offering insight alongside our analysis. The Grid Scale Battery Storage Market 2013-2023 will be of value to current and future potential investors in this industry, as well as companies and research centers who wish to broaden their knowledge of the grid scale battery industry
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