Market Research Report
Market Data - Evolving Market Participation Models for Energy Storage: Battery Energy Storage, Wholesale Price Arbitrage/Ancillary Services, Market Participation Models, Lithium-Ion, Asset Lifetime Operational Revenue, Global Market Analysis & Forecasts
|Market Data - Evolving Market Participation Models for Energy Storage: Battery Energy Storage, Wholesale Price Arbitrage/Ancillary Services, Market Participation Models, Lithium-Ion, Asset Lifetime Operational Revenue, Global Market Analysis & Forecasts|
Published: June 2, 2022
Guidehouse Insights (formerly Navigant Research)
Content info: 29 Pages; 28 Tables, Charts & Figures
Delivery time: 1-2 business days
Battery energy storage systems (BESSs) can store usable energy for use at another time when most needed or most valuable. When installed in front-of-the-meter (FTM), BESSs can provide an array of long-term and short-term grid services which, depending on latent market and regulatory frameworks, can generate different and stackable revenue streams for related stakeholders, such as independent system operators. Utility-scale ESSs are beginning to consolidate around four high-value applications: frequency regulation, solar plus storage, peak capacity, and resource adequacy services.
This market data report explores market participation models for energy storage systems (ESS), focusing on BESSs in all regions, between 2022-2031. Focusing on the total addressable market and base-case scenarios, it provides estimated forecasts for maximum potential operational revenue ($ Million), across the lifetime of a BESS asset, alongside related global power capacity (MWh), and global energy capacity (MW) statistics. The report focusses on estimated associated revenue streams in wholesale market arbitrage opportunities and utility-scale ancillary services.
The study leverages Guidehouse Insights syndicated Energy Storage research services, supplemented by interviews with market participants. Guidehouse Insights estimates that lifetime expected revenues for BESS assets will continue to grow over the forecast period. Renewable energy shifting and ancillary services will likely reach $5,738 million and $1,488 million in 2022, respectively. Growing at respective CAGRs of 17.0% and 13.9% renewable energy shifting is expected to reach approximately $23,586 million by 2031, and ancillary services, $4,794 million. The Asia Pacific market is set to offer the largest opportunity by 2031, with the North American market closely following.