Energy storage is expected to become an increasingly viable option to meet changes in load, which will play a critical role in the structure and operation of the power grid
December 6, 2018 – Boulder, CO – A new report from Navigant Research tracks global energy storage projects, providing data on the country, region, market segment, capacity, status, technology vendor, systems integrator, applications, funding, investment, and key milestones of each project.
Energy storage grants stakeholders flexibility on the generation, transmission, distribution, and end-use sides of the grid. As a result, the energy storage landscape has grown increasingly sophisticated through 2018, marked by new types of projects that are being monetized by innovative business models. Click to tweet: According to a new report from @NavigantRSRCH, worldwide, more than 1,900 energy storage projects exist, marking an increase of about 200 projects since last year.
“Several new companies have entered the market across the energy storage value chain while legacy companies have sought to bolster their presence,” says Ian McClenny, research analyst with Navigant Research. “The growing need to modernize global electricity grids and the evolution of business cases for deploying storage ensure that this market will continue to grow quickly over the coming years.”
Other factors driving the energy storage market forward include the restructuring of electricity markets and an increase of variable generation sources. In addition, Navigant Research expects energy storage to increasingly become a viable option to meet changes in load, which will play a critical role in the structure and operation of the power grid.
The report, Energy Storage Tracker 4Q18, provides a comprehensive resource of global energy storage projects. The Tracker includes a database of 1,935 projects and tracks the country, region, market segment, capacity, status, technology vendor, systems integrator, applications, funding, investment, and key milestones of each project. In addition, the report includes an analysis of the technology choice within each major region for energy storage, analysis of the leading regions for energy storage capacity and projects, and market share analysis for technology vendors for deployed projects and projects in the pipeline. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Energy Storage Tracker 4Q18, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.