Annual Revenue for the Commercial and Industrial Energy Storage Industry is Expected to Increase by $9.9 Billion by 2025
Carbon reduction policies are aligning at multiple levels to support the growth of energy storage technologies for commercial and industrial customers
A recent report from Navigant Research examines the global market for commercial and industrial (C&I) energy storage, with a focus on advanced lead-acid, flow, and lithium ion (Li-ion) batteries, including market forecasts for capacity and revenue, through 2025.
The global market for C&I energy storage has experienced rapid growth as a result of numerous market developments in the past two years. Across the entire energy storage industry, decreasing prices for batteries and other system components have helped make energy storage systems (ESSs) an economical solution for more customers. Click to tweet: According to a recent report from @NavigantRSRCH, annual revenue for the C&I energy storage industry is expected to increase by $9.9 billion by 2025.
“The landscape of vendors offering C&I ESSs is growing increasingly diverse and competitive as vendors approach the market from different angles,” says Alex Eller, research analyst with Navigant Research. “Given the significant variations in energy use and building load profiles, it can be difficult for vendors to offer a single, standardized system that will meet a customer’s needs, so there is pressure for more flexible systems.”
In key markets around the world, carbon reduction policies are aligning at multiple levels to support the growth of energy storage technologies for C&I customers, according to the report. In some markets, this has resulted in increasing deployments of renewable energy generation and electric vehicles, both of which create changes to grid operations and increase the demand for ESSs to maintain grid stability and efficiency.
The report, Market Data: Commercial & Industrial Energy Storage, analyzes the global market for C&I energy storage, with a focus on advanced lead-acid, flow, and lithium ion (Li-ion) batteries. The study provides an overview of the market developments, technology trends, and business models that are converging to drive significant growth in this space during the next 10 years. A particular emphasis is placed on the energy storage issues that vendors must consider for the nine unique building types covered in this report. Global market forecasts for capacity and revenue, segmented by building type, technology, and region, extend through 2025.