NEW YORK, Aug. 19, 2015 /PRNewswire/ -- The grid-tied energy storage market is poised to take off. However, pricing remains inconsistent and economies of scale have yet to translate into accessible system costs for the end user. Energy storage systems (ESSs) consist of a core storage technology—such as an advanced battery or a flywheel—as well as power conversion systems, software, and controls. In addition to the hardware and software in an ESS, systems integration expertise is required to deliver a fully intelligent, bankable system to the customer.
Energy storage enabling technology (ESET) is a portion of the energy storage value chain undergoing intensive scrutiny. While battery prices have fallen anywhere from 40% to 60% in the past 18 months thanks to manufacturing innovations and volumes, ESSs still vary wildly in terms of price. This variation is a function of system size, volume ordering, and business models. Now that battery prices have responded to cost pressures, the rest of the balance of plant—or the ESET portion of system cost—is under more pressure to deliver more consistent pricing. Once this happens, more transparency in overall ESS pricing is expected, allowing the industry to scale further. According to Navigant Research, global installed ESET revenue is expected to grow from $605.8 million in 2015 to $21.5 billion in 2024.
This Navigant Research report analyzes the global market for ESETs across four distinct market segments: utility-scale storage, community storage, residential storage, and commercial storage. The study provides an analysis of the market issues, opportunities, and challenges associated with ESETs. Global market forecasts for power conversion systems, energy storage software and controls, and systems integration services, segmented by technology, application, and region, extend through 2024. The report also examines the key technology trends related to ESETs, as well as the competitive landscape.
Key Questions Addressed:
What are the cost trends for energy storage enabling technologies (ESETs), and how will they change over time?
How will the growth of the energy storage market influence the cost trends of ESETs?
What energy storage markets are the most lucrative for ESETs?
Who are the leading players in power conversion, software and controls, and systems integration?
How will the global ESET markets scale?
Who needs this report?
Energy engineering, procurement, and construction (EPC) firms
Energy storage technology firms
Solar finance companies
Smart grid controls and software companies
Inverter and microinverter companies
Read the full report: http://www.reportlinker.com/p02834688-summary/view-report.html
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