Market Research Report - 247578
China Grid-Scale Energy Storage: Technologies & Markets, 2012-2016
|Published by||Greentech Media Inc.|
|China Grid-Scale Energy Storage: Technologies & Markets, 2012-2016|
|Published: July 16, 2012||Content info:||
In 2012, China's electric grid will become the largest in the world in terms of both installed generation capacity and electricity produced. China also possesses the world's largest installed wind power base and the world's largest declared investment in renewable energy. These facts alone suggest that China is also the most attractive market for energy storage in the world, even though China currently has just 4% of the worldwide energy storage capacity.
Whereas other markets have focused on power quality and ancillary services, China's grid energy storage market has developed with a focus on renewable energy integration, load-shifting and peak shaving. Azure International and GTM Research forecast that pumped hydro storage capacity will double or triple by 2016 to reach 40-60 GW, while other storage technologies will rise from currently insignificant levels to over 700 MW installed by 2016.
With strong government support and steadily improving technology, we anticipate the energy storage market will grow to a US$500 million per year market by 2016. In this 142-page report, we analyze the market's outlook with a realistic assessment of the policy, market and technical barriers that energy storage faces.