A recent report from Navigant Research tracks global energy storage developments, providing a database of projects sorted by country, region, market segment, capacity, status, technology vendor, systems integrator, applications, funding, investment, and key milestones.
The report, Energy Storage Tracker 2Q19, identified 2092 energy storage projects globally. The tracker 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 and future projects.
As global electricity grids embrace the new energy economy, energy storage is becoming a necessity in grid infrastructure. In recent years, the landscape for this technology has grown increasingly sophisticated, marked by new types of projects being monetized through innovative business models.
According to the report, several key factors continue to increase the global need for energy storage deployments. The restructuring of electricity markets will enable valuation of the flexible benefits of energy storage deployments, while variable generation sources such as solar photovoltaic (PV) and wind that are connected to power grids will require increased load balancing against demand. Areas with unstable grids and frequent outages will benefit from distributed energy storage systems (DESSs) and microgrids with storage. Load profiles are expected to play a critical role in the structure and operation of the power grid, which will influence the development of energy storage markets.
"Several new companies have entered the market across the energy storage value chain while legacy companies have sought to bolster their presence," said Ricardo F. Rodriguez, research analyst at Navigant Research. "The growing need to modernize global electricity grids and the evolution of business cases for deploying storage are expected to ensure continued market growth."
An executive summary of the report is available for download here.