Pike Research has announced the inclusion of a new report titled, “Energy Storage on the Grid,” in its list of report offerings.
The report provides a detailed study on important market drivers and barriers for the upcoming energy storage market, the related technological issues involved and in-depth summary of 12 important countries.
According to the report, the grids are in need of energy storage technologies to manage the grids efficiently. Unlike traditional grids that received continuous regulated supply of power the present day grids connected to renewable energy supplies such as solar power and wind are in need of counterbalancing equipment to maintain the load structure and to manage the peak power demand. The new energy storage technologies also enable the grids to prevent or postpone the construction and introduction of costly equipment to manage the transmission and distribution of grids.
The new Pike Research report estimates that the energy storage applications will lead to a global investment of around $122 billion in the energy storage projects in the period from 2011 to 2021. The report expects that wind power generation, which requires long duration of power storage, will represent nearly 50% of the energy storage requirement. The report estimates the demands from other segments such as load leveling/peak shifting will constitute 31%, arbitrage 12% and T&D upgrade deferral 7% following it closely.
According to Anissa Dehamna, research analyst of the company, the market with the presence of grid service providers, utility companies and equipment providers offers the right opportunities for the energy storage segment. Dehamma further states that the technologies such as compressed air energy storage (CAES), sodium sulfur (NaS) batteries and advanced lithium ion batteries will have more usage in the storage applications during the forecasted period.
The report offers worldwide forecasts for the long period energy storage segment and provides details by technology, application and region in terms of megawatts and revenue. The report also has taken care of the important changes that took place in the yester years and offers a study on important energy storage projects.