New Installed Energy Storage Systems for Renewable Energy Integration Capacity Is Expected to Total 45.1 GW from 2015 to 2025
A recent report from Navigant Research examines the market for energy storage systems for renewable energy integration (ESRI), including global market forecasts for capacity and revenue, broken out by application, technology, and region, through 2025.The fastest-growing renewable energy markets continue to be solar PV and wind, variable forms of generation that present challenges to an electrical grid that was designed using a centralized model with predictable power flows. However, the growth of variable generation and the decreasing cost of advanced batteries present opportunities for energy storage systems (ESSs) situated either at the distribution grid or behind the meter. Click to tweet: According to a recent report from @NavigantRSRCH, global new installed ESRI power capacity is expected to total 45.1 GW from 2015 to 2025.
“The business cases for ESRI will vary significantly depending on the geographic location, market structure, target customers, and type of renewable energy being integrated,” says Anissa Dehamna, principal research analyst with Navigant Research. “While this diversity presents challenges in the short term, there is enormous potential for companies able to make sense of this complexity and offer solutions that the market demands.”The growing amount of variable energy generation being added to power grids worldwide is causing significant shifts in the global electric power industry, according to the report. Regions such as North America, Europe, and Asia Pacific are experiencing different levels of growth in variable generation, and the impact this new generation has on the grid also differs regionally.
The report, Energy Storage for Renewables Integration, analyzes the global ESRI market, focusing on four primary applications: commercial ESRI, residential ESRI, utility-scale solar integration, and utility-scale wind integration. These four applications include a variety of different functions for an ESS to perform that can facilitate a seamless integration of variable renewable energy generation. The study provides an analysis of the market issues, including business cases, opportunities, and challenges, associated with ESRI. Global market forecasts for capacity and revenue, broken out by application, technology, and region, extend through 2025. The report also examines the key technologies related to ESRI, as well as the competitive landscape.