Navigant Research Expects Annual Installed Energy Storage Capacity for Transmission and Distribution Deferral to Near 15 Gigawatts by 2026
Report finds proven benefits of using energy storage to defer or
avoid transmission and distribution investments
A new report from Navigant
Research analyzes the global market dynamics for energy storage
systems (ESSs) that provide transmission and distribution (T&D) deferral
and asset optimization.
Historically, building new T&D infrastructure was the default solution
to issues facing the electricity grid, including increased load growth
or waning reliability. Today, stationary energy storage technology can
be used to defer upgrades for these types of issues—and in a faster and
less expensive manner. Click
to tweet: According to a new report from @NavigantRSRCH,
global installed energy storage power capacity for T&D deferral is
expected to grow from 331.7 MW in 2017 to 14,324.8 MW in 2026.
“The major advantage energy storage has compared to conventional T&D
upgrades results from the flexibility related to how storage systems can
be deployed and the variety of services they can provide,” says Alex
Eller, research analyst with Navigant Research. “Unlike most grid
infrastructure systems, ESSs can be deployed in small, modular
increments as needed to serve growing demand with limited risk of
oversizing or stranding assets.”
These types of deployments are expected to increase in coming years as
they bypass many of the typical challenges associated with large-scale
transmission projects, including community concerns, timelines around
project development and build, as well as uncertainty around future load
growth and demand patterns. As the cost of energy storage technology
continues to decrease, these deployments are becoming an increasingly
economical alternative to conventional T&D investments.
The report, Energy
Storage for Transmission and Distribution Deferral, examines the
global trends and market dynamics for ESSs providing T&D deferral and
asset optimization. The study includes an analysis of the advantages of
energy storage over alternatives, along with the major drivers and
barriers. Global market forecasts for capacity and revenue, broken out
by market segment (transmission asset optimization, distribution asset
optimization, and behind-the-meter storage) and region, extend through
2026. The report also examines the costs and benefits related to energy
storage for T&D deferral, as well as notable case studies. 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 for Transmission and Distribution Deferral, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171010005399/en/
Copyright Business Wire 2017