Grid-Scale Battery Storage Technologies Market Report 2016-2026

LONDON, June 24, 2016 /PRNewswire/ --

Capex Forecasts For Lithium-ion (Li-Poly, LFP, LTO), Flow (VRFB, Li-Air, Zn-Air, Zn-Br, PSB), Sodium-Based (Na-S, Na-NiCl), Advanced Lead Acid and Other Batteries (Li-Air, Mg-Ion, Ni-Zn, Ni-Fe, Ni-Cd) Energy Storage Technologies (EST) For Electricity Transmission & Distribution (T&D) Grids To Optimise Off-Grid Storage of Renewable Wind, Concentrated Solar Power (CSP) / & Photo-Voltaic (PV) Energy

Visiongain's comprehensive new 234 page report reveals that CAPEX invested in grid-scale battery storage technologies will reach $1,107m in 2016, with rapid growth anticipated over the next ten years.

The grid-scale battery storage market is largely an emerging one, especially when compared with other energy storage systems such as the well-established pumped hydro storage (PHS). 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 compressed air energy storage (CAES) and PHS.

The regulatory frameworks and 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 is 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. Visiongain expects the grid-scale battery storage market to grow considerably over the next ten years for grid ancillary services, peak electricity demand shaving, energy efficiency and renewable energy integration.