Advanced batteries for utility-scale energy storage applications

NEW YORK, Aug. 6, 2012 /PRNewswire/ — announces that a new market research report is available in its catalogue: Advanced Batteries for Utility-Scale Energy Storage Applications.

Over the next 10 years, the global power sector will undergo dramatic changes in its technical and business profiles. As generation resources evolve – both with and without carbon constraints – load profiles will grow and become increasingly more dynamic. These changes will necessitate an adaptive flexibility from system infrastructure, generation resources, and load. To manage these changes and prepare for future innovation, utilities, grid operators, and service providers are developing strategies that enhance grid flexibility, incorporate carbon-free generation resources, and accommodate growing electricity demand. What role advanced batteries will play in these strategies remains uncertain.

The market opportunity for advanced batteries in the utility sector is inherently tied to two drivers: 1) rising demand for electricity and 2) the increasing penetration of variable renewable energy generation. These two forces are carving out niche service applications for advanced batteries that integrate these variable resources and enhance power quality on the grid. Moreover, certain global markets will present opportunities for advanced batteries in rural electrification and transmission and distribution (T&D) investment deferral. But, advanced batteries are not the only assets that can provide these services. Demand response (DR) and other energy efficiency programs may be the low hanging fruit, but advances in electric grid infrastructure, such as smart inverters, could accomplish the same objectives as advanced batteries. Utilities and grid operators are not yet convinced that advanced batteries are the only path forward, but many do agree that the current resources will not be sufficient in the long term.

This Pike Research report explores the market opportunity and business models for advanced batteries for utility-scale energy storage applications including grid asset optimization, T&D deferral, renewables integration, ancillary services, and arbitrage. The study includes an assessment of the technical characteristics of advanced battery technologies such as lithium ion, sodium sulfur, advanced lead-acid, sodium metal halide, and advanced flow batteries. Key industry players are profiled and global market forecasts for installed capacity and revenue are provided through 2022, segmented by application, technology, and region.