New York, Jan 18, 2021 (GLOBE NEWSWIRE via COMTEX) --
New York, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Grid-Scale Electricity Storage Technologies: Global Markets" - https://www.reportlinker.com/p03549295/?utm_source=GNW
These technologies are implemented in order to temporarily store electricity during periods of available generation capacity, for subsequent use during periods of increased demand in support of load leveling, grid balancing and renewable energy integration and intermittent generation balancing.
The grid-scale battery storage technologies discussed in this report are increasingly deployed in support of intermittent renewable energy sources, such as solar and wind energy, which frequently generate power outside of peak demand periods.In these cases, grid-scale electricity storage technologies facilitate delivery of renewable power to end users during periods of high and peak use.
This supports utility-level regulations and greenhouse gas (GHG) emissions reduction strategies, which are increasingly common in the global electricity market.
The market analysis provided in this report is based on a variety of data sources.These include the most recent government, industry and academic data regarding the projected level of demand for utility-scale electricity storage technologies that could potentially translate into grid-scale battery storage projects.
These data were supplemented with an evaluation of major utility electricity storage (UES) and renewable (solar and wind) projects that have been announced or that are currently being proposed. This report provides a comprehensive review of available data in order to provide a realistic, robust and accurate assessment of this quickly changing market.
The analyst analyzes each major, viable grid-scale battery storage technology, determines the current market status, examines the impact on future markets and presents forecasts for growth over the next 10 years. Technological issues, including the latest trends, are assessed and discussed, as are the current and likely regulatory environments in support of this industry.
The analyst analyzes the global industry in terms of its manufacturing and the deployment of its technologies or products. The analyst examines government roles in support of grid-scale battery storage technologies, worldwide, including regulatory support, government requirements and promotional incentives for various grid-scale electricity storage technologies.
The analyst provides a review of the most relevant grid-scale electricity storage technologies, discusses recent trends in capacity installation and unit sales and provides industry overviews and market assessments for each grid-scale electricity storage technology.
- 58 data tables and 13 additional tables
- An overview of global market for grid-scale electricity storage technologies
- Estimation of the market size and analyses of market trends, with data from 2019, estimates for 2020 to 2025, with projections of compound annual growth rates (CAGRs) through 2025
- Explanation of the market dynamics, trends, opportunities, and factors influencing the global grid-scale electricity storage technologies and assessment of latest trends within the industry
- Market share analysis of the grid-scale electricity storage technologies based on technology, end-user, service, application, and region
- Coverage of investments in research, development and demonstration projects and detailed description of smart grids and distributed power generation systems
- Assessment of regulatory trends and incentives, regional economic development rate, timetable for implementation, and environmental restrictions of the grid-scale electricity storage technologies
- Analysis of the competitive landscape, coverage of recent developments, and current and future demand of grid-scale electricity storage technologies in the global markets
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies
- Comprehensive company profiles of the leading players of the industry, including Bosch Group, Duke Energy Corp., LG CHEM Ltd., Panasonic Corp., and Samsung SDI Co. Ltd.
With increasing demand, increasing long-term cost of fuel and growing environmental concerns, power companies are reviewing all options.A major debate at this stage is whether to build new generation and transmission installations and the use of new technologies to store electricity.
Electrical energy storage has the potential to deliver a variety of benefits, including capital investment delay, energy arbitration, enhanced power quality and less environmental impact, as well as increased efficiency and cost.
For the past 20 years, the global utility-scale electricity storage (UES) market in the U.S. has been dormant. Over the last decade, annual UES market rates were relatively stable, globally, with a few new facilities in Europe and Asia. Current global trends support substantial investment in new power infrastructure. Grid-sized battery storage technologies are now being developed in conjunction with a growing renewable energy industry, after 10 years of dedicated development. These driving trends are -
- Growing restrictions on greenhouse gas emissions.
- Direct and indirect support for the installation of intermittent renewable sources of power.
- Peak power/surge demand-side management and integration of smart grid systems.
- Infrastructure expansion needed to support further regional economic development.
- Grid investment deferral by utilities.
These five trends form the basis of an emerging boom in grid-scale electricity storage technology development.
Regional market breakdowns are shown here for the overall grid-scale electricity storage market but are shown in the full report in terms of market size by capital expenditure for global regions with a selection of leading national markets.
In recent years, the use of plomo-acid electrochemical batteries has decreased with the increasing popularity and advances of other chemicals (lithium-ion and sodium-sulfur).The development of the ultra-battery with lead acid could recover due to improved storage capacities.
Lithium-ion is expected to take the lead as the preferred battery storage grid scale technology over the forecast period. Lithiumion batteries (Li-ion) reach a grid scale, with several manufacturers simply moving beyond the sale of batteries in order to offer integrated storage services for certain applications.
Japan is the leading market for sodium-sulfur (NaS) battery technology after heavy investment into R&D The country has more than 190 NaS installations across the country with a total of 270 MW/1,640 MWh of installed capacity.NaS had some difficulties in early years, mainly related to overheating, which led to fire outbreaks.
As these issues are overcome, installations are expected to grow. Flow batteries are a much less developed technology than standard batteries, but these are beginning to become commercially available.
Read the full report: https://www.reportlinker.com/p03549295/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
Is there a problem with this press release? Contact the source provider Comtex at firstname.lastname@example.org. You can also contact MarketWatch Customer Service via our Customer Center.
(C) Copyright 2021 GlobeNewswire, Inc. All rights reserved.