Distributed storage to grow ten-fold in 3 years
Growth fuelled by the development of advanced batteries, says Navigant research.
The global market for distributed energy storage systems (DESSs) is likely to multiply almost ten-fold over the next three years, a new report says.
Worldwide capacity of DESSs is expected to grow from 276 megawatts (MW) in 2015 to nearly 2,400 MW in 2018, Navigant Research says.
“Distributed storage is among the fastest-growing markets for energy storage globally,” says Anissa Dehamna, senior research analyst with Navigant Research.
“In particular, residential and commercial energy storage are expected to be the focus of technological advances and market activity in the coming years.”
Growth in this market is being fueled by the development of advanced battery chemistries, particularly lithium ion (Li-ion), according to the report.
At the same time, the spread of solar photovoltaics, electric vehicles, electric vehicle charging, and home energy networks are all creating new applications and new demand for DESSs.
By 2024 total worldwide capacity is expected to exceed 12,000 MW.
The report, “Community, Residential, and Commercial Energy Storage,” analyzes the global market for DESSs, with a focus on three distinct applications: community energy storage (specifically energy storage at the distributed transformer), residential energy storage (with and without solar PV), and commercial energy storage.
The study provides an analysis of the market issues, opportunities, and challenges associated with distributed energy storage.
Global market forecasts for power capacity, energy capacity, and revenue, broken out by application, technology, region, and ownership model, extend through 2024.
The report also examines the key technologies related to DESSs, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.