Current Trends in the Energy Storage Industry

energy storage

The strength storage market in the U.S. is predicted to grow to $2.five billion with an annual set up size of 40 gigawatts by means of 2022. In phrases of megawatt-hours, the U.S. electricity storage market grew 284 percent in 2016 and this number will maintain to increase exponentially for the duration of 2017.

The strength storage association predicts that “a highly networked ecosystem of -manner strength flows and digitally enabled smart grid architecture will replace the current one-way power gadget” and that strength garage will play a first-rate roll on this process via 2025.

Much of the continuing growth is because of falling fees of strength garage device additives which include batteries. As an example, Bloomberg New strength Finance predicts that battery generation will drop to $120 according to kWh by way of 2030. Further, large and independent strength manufacturers have visible electricity storage costs drop with the aid of up to 70 percent inside the beyond few years in step with the power storage association.

for example, Google parent Alphabet plans to reach its intention of the usage of a hundred percentage renewable energy through the quilt of 2017; Apple says that ninety six percent of the electricity it uses already comes from renewable strength; and Facebook is positioning itself to hit the 50 percent mark through 2018.

Similarly, the expenses of renewable inclusive of solar and wind have fallen about 80 percent in the final 10 years in step with David Hoch child of the California energy fee. Hoch child additionally anticipates that California is on an inevitable path to sooner or later be one hundred percentage depending on renewable electricity assets. The U.S. branch of electricity’s Sustainable and Holistic Integration of strength storage and sun Photovoltaics (SHINES) application also objectives to reduce the price of power from combines sun and garage projects to under $0.14 consistent with kWh.

Electricity garage is turning into a major player within the global strength market and will continue to grow for the foreseeable future. As thing prices decline, the advantages of strength garage turns into each extra plausible and appealing. Integration with the IoT will create extra advantages through shrewd strength garage to facilitate integration of power garage and renewable as nicely.

Bruno Miller is a chief editor at MarketPRNews. He has 13 + years of experience in Content Writing & blogging. His hobbies are Travelling, Reading and learning new things.

Global energy storage systems market to become worth US$52.59 bn by 2025

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A new report added to the repository of Market Research Reports Search Engine “Energy Storage Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” is a comprehensive repository of information, providing market share, size, and forecast.

The energy storage systems market report provides analysis for the period 2015–2025, wherein the period from 2017 to 2025 is the forecast period and 2016 is the base year. The report covers all the major trends and technologies playing a key role in energy storage systems market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the said period. The study provides a holistic perspective on the energy storage systems market’s growth throughout the above mentioned forecast period in terms of revenue and volume (in US$ Bn), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA).

The market overview section of the report demonstrates the market dynamics and trends that influence the current nature and future status of this market. An attractiveness analysis has also been provided for every geographic region in the report, in order to give a thorough analysis of the overall competitive scenario of the energy storage systems market. Moreover, the report provides an overview of the various strategies adopted by key players present in the market. Product definition and introduction chapter helps in understanding different technologies of energy storage systems along with their applications which are included in the report.

Global Energy Storage Systems Market: Segmentation

The report segments global energy storage systems market on the basis of technology, application, end user and geography. On the basis of technology, the market is segmented into electrochemical storage, mechanical storage, thermal storage and other storage technologies. Electrochemical storage is further sub-segmented into lithium ion battery, lead acid battery, sodium sulfur (NaS) battery, flow battery and others. While the mechanical storage can be further sub segmented into pumped hydro energy storage, flywheel energy storage and compressed air & liquid air energy storage. The market on the basis of application is segmented into transportation and application. End users include residential, non-residential, utilities and automotive.  Thus, the report provides in-depth cross-segment analysis of the energy storage systems market and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels.

On the basis of country, North American market is divided into The U.S., Canada and Rest of North America. Similarly, Europe market is divided into Germany U.K., France, and Rest of Europe. Asia Pacific has been segmented into China, Japan, India and Rest of Asia Pacific. Middle East and Africa covers the G.C.C., South Africa and Rest of Middle East and Africa. Similarly, South America region includes Brazil and Rest of South America. This report provides all the essential information required to understand the energy storage systems and its components. Also, the report provides insights related to the policies and regulations according to the various geographical regions mentioned above. These policies and regulations are directly or indirectly influencing the energy storage systems market.

Global Energy Storage Systems Market: Competitive Landscape

The report also highlights the competitive landscape of the energy storage systems market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive energy storage systems market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the porter’s five forces and value chain along with the current market dynamics affecting the energy storage systems market growth.

Furthermore, Porter’s Five Forces analysis explains the factors which are currently affecting the energy storage systems market. This report also provides the ecosystem analysis for the energy storage systems which explains the participants of the value chain.

ABB Ltd., BYD Company Limited, Calmac, Dynapower Company, LLC, EOS Energy Storage, Evapco, Inc., General Electric Company, Hitachi, Ltd., LG Chem, Ltd., Maxwell Technologies, Inc., NEC Corporation, Panasonic Corporation, Schneider Electric SE, Siemens AG and Tesla are some of the major players operating within the global energy storage systems market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.

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Mercedes energy storage units headed for UK homes

Car manufacturers are racing to get their electric cars onto the market, but that’s not the only battery-powered battle being played out: they’re also keen to get their batteries into family homes. Tesla has made its Powerwall plans clear, and Mercedes-Benz Energy has been talking a big game with its energy storage systems, which will soon be finding their way into homes in the UK.

Although they’ll be slotting into homes, the Mercedes-Benz batteries have their roots in the automotive world. Developed by ACCUmotive, the Daimler subsidiary responsible for the batteries in production Mercedes hybrids, the lithium-ion cells can be used to store energy generated by home solar systems or wind turbines.

Each battery pack can store 2.5 kWh, and the modular nature of the system means up to eight can be combined for a total capacity of 20 kWh. Each individual unit is a compact block, and the batteries can be integrated and wall-mounted in one neat unit for a clean look. That’s a different approach to the Tesla Powerwall, which comes in 7.5 kWh and 10 kWh capacities, and can be scaled to 58 kWh using multiple units.

According to Mercedes-Benz, installing a home battery pack can boost self-consumption of generated energy by up to 65 percent, and being able to store energy generated with personal solar panels does make them a more attractive option. Rather than feeding excess energy back into the grid, the batteries are able to store it, allowing home owners to use it themselves during expensive peak-rate times.

“There is tremendous interest in our energy storage units and we have already received numerous orders,” says Harald Kröger, Head of Development Electrics/Electronics at Mercedes-Benz. “Over the coming months, we will continue to step up and expand sales both in Germany and on the international market.” That includes plans to have the batteries available in the US this year.

Mercedes-Benz Energy says the components in its system will vary for each individual home, but most will likely include a solar system, a battery inverter, an energy-management system and (of course) the batteries themselves. Buyers will also need to pay for installation. Pricing will vary, but reports suggest a standard home system will cost around US$10,000, including installation.

Bruno Miller is a chief editor at MarketPRNews. He has 13 + years of experience in Content Writing & blogging. His hobbies are Travelling, Reading and learning new things.