Grid energy storage is a collection of methods used to store electrical energy on a large scale within an electrical power grid. Electrical energy is stored during times when production (especially from intermittent power plants such as renewable electricity sources such as wind power, tidal power, solar power) exceeds consumption, and returned to the grid when production falls below consumption.
A variety of grid scale energy storage technologies are known to the industry and can be broadly categorized based on the type of energy being stored. Pumped hydro energy storage (PHES) is a well-established energy storage technique; however, because of known challenges, various other energy storage techniques, backed by public and private lending, have surfaced over the last decade. For a market such as energy storage, which is linked to the economy of a country, initiatives related to policy decisions and mass awareness play a key role in the growth. Some countries have introduced reforms / amendments in the policies to encourage the market for energy storage, while others are still debating on it. The White House Summit 2016 is a recent example of such initiatives. At the summit, a range of utility, industry and government storage commitments were highlighted to signify the importance of this subject. Post this, the Federal Energy Regulatory Commission (FERC) started working on re-evaluating some of the policies to encourage energy storage in the US.
At the time of release of this study, policies favoring renewable energy over other sources were in place in about 50 countries. The common theme across these policies is priority dispatch of electricity from renewable sources, special feed-in tariffs, quota obligations for renewable energy and energy tax exemptions. In addition, legal bindings / agreements, such as COP21, to tackle climate change are encouraging the use of renewable energy, which, in turn, is likely to drive the energy storage industry.
The global Grid Scale Energy Storage market was valued at xx million US$ in 2018 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Grid Scale Energy Storage volume and value at global level, regional level and company level. From a global perspective, this report represents overall Grid Scale Energy Storage market size by analyzing historical data and future prospect.
Regionally, this report categorizes the production, apparent consumption, export and import of Grid Scale Energy Storage in North America, Europe, China, Japan, Southeast Asia and India.
For each manufacturer covered, this report analyzes their Grid Scale Energy Storage manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.
The following manufacturers are covered:
ABB
Beacon Power
Hydrostor
EnerVault
GE
Samsung SDI
S&C Electric
SustainX
Segment by Regions
North America
Europe
China
Japan
Southeast Asia
India
Segment by Type
Pumped Hydroelectric Storage System
Thermal Storage
Battery Storage
Compressed Air Energy Storage
Flywheel Storage
Molten Salt Storage
Segment by Application
Mechanical Energy
Chemical Energy
Electrochemical Energy
Thermal Energy
Electromagnetic Energy
Summary:
Get latest Market Research Reports on Grid Scale Energy Storage. Industry analysis & Market Report on Grid Scale Energy Storage is a syndicated market report, published as Global Grid Scale Energy Storage Market Professional Survey Report 2019. It is complete Research Study and Industry Analysis of Grid Scale Energy Storage market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.