NEW YORK, Nov. 18, 2015 /PRNewswire/ -- The energy storage industry has been evolving at different paces and with a focus on different applications and technologies in countries around the world. One of the most significant drivers of the energy storage industry has been the rapidly decreasing costs of battery energy storage systems (ESSs), a similar trend to that seen in the solar PV industry over the past decade. While system costs are still one of the biggest barriers to the industry's growth, declining prices are opening up new use cases and geographic markets. Prices are expected to continue declining over the next decade, which will enable ESSs to be an economical choice for more utilities and end users.
The growing amount of variable renewable energy generation being deployed in major markets worldwide, primarily solar PV and wind energy, is also a significant factor driving interest in grid-tied energy storage technologies. These variable forms of generation present new challenges to the electrical grid. Energy storage is becoming an increasingly flexible and cost-effective tool for grid operators to help manage instability on their networks. Several countries are projected to see substantial growth in energy storage deployments in the coming decade. The two leading countries, the United States and China, have a more balanced mix of both utility-scale and distributed storage deployments, while other countries heavily favor one application over the other for a variety of reasons.
This Navigant Research report analyzes the capacity and revenue of grid-tied energy storage systems that will be deployed in major markets around the world. The forecasts cover both utility-scale and distributed energy storage applications for the nine most popular technologies in each country. This study also examines the key factors contributing to the opportunities for energy storage in the 22 major countries profiled. Country-level forecasts for power capacity, energy capacity, and revenue by technology extend through 2025.
Key Questions Addressed:
What countries and regions will represent the largest markets for energy storage in the coming decade?
What mix of technologies and applications will be found in different country markets worldwide?
How does the condition and stability of a power grid affect the market for energy storage systems?
What impact will renewable energy deployments have on the market for energy storage in a particular region?
How does the electricity market structure in a given country affect energy storage opportunities?
How will changing population demographics influence the need for grid investments?
Who needs this report?
Energy storage technology vendors and service providers
Power system suppliers and major electronics firms
Energy storage/battery component suppliers
Utilities and grid operators
Read the full report: http://www.reportlinker.com/p03397876-summary/view-report.html
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