Market Research Report
Long Duration Energy Storage - Flow, Molten Salt, Li-Ion, and Other Advanced Batteries, CAES, Pumped Storage, and Power-to-Gas: Global Market Analysis and Forecasts
|Published by||Navigant Research||Product code||749535|
|Published||Content info||48 Pages; 46 Tables, Charts & Figures
Delivery time: 1-2 business days
|Long Duration Energy Storage - Flow, Molten Salt, Li-Ion, and Other Advanced Batteries, CAES, Pumped Storage, and Power-to-Gas: Global Market Analysis and Forecasts|
|Published: November 27, 2018||Content info: 48 Pages; 46 Tables, Charts & Figures||
The development of the stationary energy storage industry over the past decade has primarily focused on short duration energy storage applications and grid services. These applications, such as frequency regulation, only require a limited discharge duration and are well-suited to technologies such as Li-ion batteries that have far lower costs at shorter durations. However, there is typically a finite demand for these services. As the penetration of renewable energy generation increases, new grid services are required to ensure that new generation resources can be integrated effectively and the overall operation of the grid is as efficient as possible.
Interest in long duration energy storage is rising as the rapid growth of variable output renewables continues and issues with grid stability and efficiency become more tangible for grid operators. Long duration energy storage is expected to be increasingly necessary for an electricity system to transition from a primary reliance on conventional fossil fuel generation to a grid dominated by variable renewable generation such as solar and wind. This type of storage provides the necessary flexibility to manage dynamic resources effectively. Demand for long duration storage will continue to increase around the world as prices continue to decline and more ambitious targets for greenhouse gas reduction are implemented.
This Navigant Research report explores the market drivers, barriers, and overall trends for long duration energy storage to highlight varying regional activities and programs. Specific technologies covered in the forecasts for this report include flow, molten salt, Li-ion, and other advanced batteries, compressed air energy storage (CAES), pumped storage, and power-to-gas. Global market forecasts, segmented by region, technology, application, and duration, extend through 2027. The report also examines the key technologies related to long duration energy storage, as well as the competitive landscape.