IDTechEx recently released an update of the report ‘Batteries for Stationary Energy Storage 2021-2031’. The report investigated the recent development of batteries for stationary energy storage, showing the forecast of battery installations and market size.
IDTechEx Battery Market Forecast (US$ billion)
The report shows the fast-growing scale of this market, analysing the main technologies involved in this energetic revolution.
The way to produce electricity is changing; a growing amount of renewable energies are installed every day, and this has a strong impact on the electricity grid and, more in general, on the electricity market.
All of the main countries in the world have adopted a renewable energy target, either to reach a specific percentage of energy produced by renewables or to install a defined amount of power, as is the case in India and in the US States of Texas and Iowa.
With a larger percentage of renewable energies adopted, because of their variable nature, the electricity grid is also facing an upgrade. To reach a large amount of renewable energy, the adoption of an energy storage system is mandatory to allow consumers to have constant electricity availability.
Together with the installation of renewables, and the integration of energy storage systems, new companies are approaching the market to provide a large variety of services.
This report shows that several countries are developing the concept of Virtual Power Plant (VPP) and Vehicle-to-Grid (V2G) to increase the resiliency of the power grid, maintaining low costs.
The reader will have access to a quick and in-depth overview of the current state of adoption and future development of batteries for stationary systems. Forecasts breakdowns by country and power grid segment are provided, together with the market size.
In addition, because Li-ion batteries are dominating the stationary storage market, the different types of chemistries for stationary storage applications are analysed. Moreover, an overview of other storage systems, such as Redox Flow Battery (RFB), hydrogen technologies, Compressed Air Energy Storage (CAES), and Gravitational Energy Storage (GES) is provided, showing their capability to address the market in the next years.
For more news and technical articles from the global renewable industry read our latest issue of Energy Global magazine.
The Winter issue of Energy Global provides a range of technical articles covering technological advancements and future outlooks in the renewables sector, from companies including CorPower Ocean, Rystad Energy, Black & Veatch, Voltalia, FUERGY, and more.
Read the article online at: https://www.energyglobal.com/energy-storage/10022021/idtechex-reports-on-battery-storage/