The global battery energy storage market for renewables to grow at a CAGR of 65.7% over the period 2015-2019.
The report, Global Battery Energy Storage Market for Renewables 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers he Americas, APAC, and EMEA; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.
The report covers the present scenario and the growth prospects of the global battery energy storage market for renewables for the period 2015-2019. The market has been segmented on the basis of geography and battery technology.
Lead-acid batteries are traditionally used in the renewable energy industry to store solar energy, and have applications in off-grid renewable applications such as solar, wind, and limited grid connected PV storage. However, the renewable industry is likely to face a shift in the forecast period. The solar energy storage using lead-acid batteries are expected to replace it with batteries with high efficiency, which are less bulky and have a high energy density.
According to the report, the need to maintain grid stabilization, and transmission and distribution (T&D) deferral along with the awareness of issues pertaining to renewable sources, such as wind and solar PV, is driving the battery energy storage market. In addition, the need for optimizing variable renewables fed into grids and balancing the demand-supply gap boosts the market growth. Energy storage batteries enable efficient power supply to grid and supply shift for variable nature of renewable energy sources. Ancillary services, such as regulation in grid and voltage support with high variable renewable energy share, are explored with an emphasis on short-term regulation at the grid level.
Further, the report states that operational challenges of lead-acid batteries is hindering the market growth.
AES Energy Storage
Axion Power International
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by battery technology
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Sector: Battery Technology, Energy Storage
(October 23, 2015 - 6:22 AM EDT)
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