Lithium Ion Batteries are the Leading Form of Energy Storage for New Projects
North America remains the largest market for new energy storage systems
A new report from Navigant Research examines global energy storage projects, providing a database of 1,119 projects organized by 11 criteria, plus analysis of regional technology choices and market shares.
2015 marked a record year for the global energy storage industry, with continued increases in deployed and newly announced project capacity. A growing number of technologies were also deployed, including advanced battery and electromechanical storage technologies, and lithium ion (Li-ion) batteries remained the leading form of energy storage for new projects. Click to tweet: According to a new report from Navigant Research, Li-ion accounted for more than half of newly announced energy storage system (ESS) capacity and more than 85 percent of deployed ESS power capacity in 2015.
“Li-ion batteries are the most popular technology for the growing distributed energy storage system (DESS) and behind-the-meter (BTM) market segments,” says Alex Eller, research associate with Navigant Research. “These systems accounted for an estimated 12 percent of new system capacity announced in 2015, the highest percentage of any year on record.”
While market activity picked up in a number of regions during 2015, North America remains the largest market for newly announced ESSs, according to the report. An estimated 1,653.5 MW of new ESSs were announced worldwide in 2015, with around 33.8 percent of this new capacity coming from North America.
The report, Energy Storage Tracker 1Q16, provides a comprehensive resource of global energy storage projects. The Tracker includes a database of 1,119 projects (encompassing at least 43,305 individual systems) 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.
Contact: Lindsay Lorenz
* The information contained in this press release concerning the report, Energy Storage Tracker 1Q16, 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.