2Q 2022

Analyst Insight: Innovative Technologies Fuel Energy Storage

Energy Storage Forecast Database Insights

Energy storage systems (ESS) provide critical services to the grid including generation capacity, frequency regulation, and other ancillary services, making them essential enablers of the energy transition. As renewable sources are further integrated into the energy mix, new and innovative storage technologies will be required to manage the supply and demand imbalances associated with a renewables-powered grid. As a result, the storage market has witnessed significant advances in recent years as costs remain on a downward trajectory and new opportunities emerge across a multitude of industry sectors and applications.

Many technologies covered in this report have existed for decades and achieved significant market penetration. Lithium-ion (Li-ion), for example, has become the default technology for new storage projects globally. Other technologies like flow batteries, PHS, and advanced lead-acid batteries are providing competition. The wide range of available technologies allows different systems to both compete and combine to provide increasingly important grid flexibility services. As the market matures and diversifies, and the demand for storage services grows, technological innovations will proliferate to expand this suite of services.

This Guidehouse Insights report introduces the technologies at the vanguard of the energy storage industry, providing market forecasts as well as deployment drivers and barriers. Two innovative solutions in hybrid storage and hydrogen energy storage are explored further, with application case studies provided.

Pages 16
Tables | Charts | Figures 5
  • What are the market drivers and barriers to energy storage deployment?
  • Which technologies are at the vanguard of the storage industry?
  • What other innovations are driving ESS deployment?
  • Energy storage vendors
  • Battery vendors
  • EV manufacturers
  • Policymakers
  • Utilities
  • Energy engineering, procurement, and construction firms
  • Investor community


Regional Market Outlook

Market Drivers and Barriers

Energy Storage Technology Market Share: DESS & UESS

Energy Storage Technologies

Energy Storage Technology Forecast

Hybrid Energy Storage Systems

Hydrogen Energy Storage

Key Recommendations

Acronyms, Resources, and Contacts

  • Annual Installed DESS Market Share by Technology, World Markets: 2022
  • Annual Installed UES Market Share by Technology, World Markets: 2022
  • Annual Total ESS Capacity Additions by Region: 2022-2031
  • Annual Total ESS Revenue by Region: 2022-2031
  • Market Drivers and Barriers
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