Lithium Ion Batteries Account for 83 Percent of Newly Announced Energy Storage System Capacity, According to Navigant Research
Adoption of distributed energy storage systems, flow batteries,
and hybrid battery systems is also growing, report finds
A new report from Navigant
Research examines global energy storage projects, providing a
database of more than 1,200 projects encompassing more than 43,000
individual systems, with an analysis of regional technology choices and
market shares.
Market activity in the energy storage sector continues to grow, with new
project announcements occurring routinely and industry players exploring
innovative business cases to make energy storage systems (ESSs)
profitable. Nearly two gigawatts (GW) of new ESSs have been announced in
2016 so far, and several projects have reached commercial operation this
quarter alone. Click
to tweet: According to a new report from @NavigantRSRCH,
lithium ion (Li-ion) batteries remain the leading energy storage
technology for new projects worldwide (excluding pumped hydro storage),
accounting for 83 percent of newly announced ESS capacity through 3Q
2016.
“While Li-ion leads in terms of technology, distributed energy storage
systems (DESSs) are becoming increasingly popular in several regions,
accounting for around 14 percent of new system capacity announced in
2016—the highest percentage of any year on record,” says Ian McClenny,
research associate with Navigant Research. “DESSs are generally much
smaller than utility-scale systems and are expected to thrive as they
become more cost-effective and productized, leading to more streamlined
installation and opening new markets.”
Projects using flow batteries and hybrid battery systems are also
becoming more popular, according to the report. These systems are
advantageous in that they can provide multiple services to the grid
based on dynamic conditions and specific requirements.
The report, Energy
Storage Tracker 3Q16, provides a comprehensive resource of
global energy storage projects. The Tracker includes a database of 1,201
projects (encompassing roughly 43,083 individual systems) and tracks the
country, region, market segment, capacity, status, technology vendor,
systems integrator, applications, funding, investment, and key
milestones of each project. In addition, the report includes an analysis
of the technology choice within each major region for energy storage,
analysis of the leading regions for energy storage capacity and
projects, and market share analysis for technology vendors for deployed
projects and projects in the pipeline. An Executive Summary of the
report is available for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.
* The information contained in this press release concerning the
report, Energy Storage Tracker 3Q16, is a summary and reflects
Navigant Research’s current expectations based on market data and trend
analysis. Market predictions and expectations are inherently uncertain
and actual results may differ materially from those contained in this
press release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.
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