Breakthrough in Grid Forming Technology can Support US$ 5 Trillion in New Global Renewable Energy Investments

Report Summary:

This insight explores how grid-forming energy storage technology enhances grid stability, contrasting it with grid-following systems in the context of increasing renewable energy integration. The insight delves into global energy storage market trends and examines current grid challenges stemming from high renewable penetration. It also provides updates on grid-forming energy storage policies and presents four commissioned international case studies of grid-forming energy storage systems (GFM ESS). Additionally, the analysis offers a ten-year market size forecast for GFM ESS, providing a holistic view of this emerging technology's role in addressing stability issues in modern power systems and its potential market impact.