- What are the leading applications and services on the grid for energy storage?
- How large is the global market for energy storage for grid and ancillary services?
- How is the mix of services being provided by energy storage expected to change by region?
- How quickly is the global market for bulk and short-duration energy storage anticipated to grow and why?
- Which energy storage technologies for power and energy services will likely lead the market?
- What countries and global regions are expected to lead the market for grid-scale energy storage?
- Which markets should each UES technology providers target and why?
1Q 2022
Market Data: Utility-Scale Energy Storage Market Update
Global Market Drivers, Trends, and Forecasts for the Large-Scale Energy Storage Industry: 2021-2030
Utility-scale energy storage (UES) is a multifaceted technology capable of providing a range of grid services and improving overall power system efficiency. Although the technology can provide operational cost savings for any power system, the single most important driver for the market’s growth is the increasing penetration of variable renewable power generation, notably solar and wind.
UES is considered a key component of new power system planning efforts in countries around the world, representing a major shift from 2016 when the technology was still largely considered too expensive or complex for integration into energy markets. Falling battery prices have made UES projects cost competitive with fossil fuel generation and other technologies for numerous applications, including peak generation capacity and frequency regulation. However, the most substantial shift has been the improving economics of combined solar plus storage projects, which are cheaper than natural gas generation in many countries and account for a large, growing portion of the global UES market.
This Guidehouse Insights report provides global forecasts for annual deployments of new UES projects in terms of power capacity (MW), energy capacity (MWh), and project deployment revenue. These forecasts are then segmented by region, technology, and the applications or services that the system provides. All forecasts cover a 10-year period from 2021-2030.
Pages
31
Tables | Charts | Figures
41
Key Questions Addressed
Who Needs This Report
- Energy storage developers and independent power producers
- Engineering, procurement, and construction (EPC) firms
- Energy storage technology firms
- Renewable energy development financing companies
- Smart grid controls and software companies
- Inverter and other balance of system vendors
- Government and regulatory agencies
- Utilities
- Investor community
Table Of Contents
1. Executive Summary
1.1 Market Overview
1.2 Market Forecasts
2. Data Assumptions
2.1 UES Technology Trends
2.2 UES Applications
2.2.1 Generation Capacity
2.2.2 Transmission and Distribution Asset Optimization
2.2.3 Frequency Regulation
2.2.4 Volt/Volt-Ampere Reactive Support
2.2.5 Renewables Ramping and Smoothing
2.3 Regional Market Trends
2.3.1 North America
2.3.2 Europe
2.3.3 Asia Pacific
2.3.4 Latin America
2.3.5 Middle East
2.3.6 Africa
3. Market Forecasts
3.1 Methodology and Assumptions
3.1.1 Coronavirus Pandemic Impacts
3.2 Forecasts by Region
3.3 Forecasts by Technology
3.4 Forecasts by Application
4. Conclusions
5. Acronym and Abbreviation List
6. Table of Contents
7. Table of Charts and Figures
8. Scope of Study, Sources and Methodology, Notes
List of Charts and Figures
- Annual Installed UES Power Capacity by Region, All Technologies and Application Segments, World Markets: 2021-2030
- Annual Installed UES Market Share by Technology, World Markets: 2021
- Annual Installed UES Market Share by Technology, World Markets: 2030
- Annual Installed UES Power Capacity by Technology, All Application Segments, World Markets: 2021-2030
- Annual Installed UES Power Capacity by Application Segment, All Technologies, World Markets: 2021-2030
- Annual Installed UES Deployment Revenue by Region, All Technologies and Application Segments, World Markets: 2021-2030
- Annual Installed UES Deployment Revenue by Technology, All Application Segments, World Markets: 2021-2030
- Annual
Installed UES Power Revenue by Application Segment, All Technologies, World
Markets: 2021-2030
List of Tables
- Utility-Scale ESS CAPEX Assumptions by Technology, Global Averages: 2021-2030
- Utility-Scale Li-Ion Battery System Pricing by Component, 20 MW/80 MWh System, Base Case, Global Averages: 2021-2030
- Utility-Scale Flow Battery System Pricing by Component, 20 MW/80 MWh System, Base Case, Global Averages: 2021-2030
- Annual Installed UES Power Capacity by Region, All Technologies and Application Segments, World Markets: 2021-2030
- Annual Installed UES Power Capacity by Technology, All Application Segments, World Markets: 2021-2030
- Annual Installed UES Power Capacity by Application Segment, All Technologies, World Markets: 2021-2030
- Annual Installed UES Energy Capacity by Region, All Technologies and Application Segments, World Markets: 2021-2030
- Annual Installed UES Energy Capacity by Technology, All Application Segments, World Markets: 2021-2030
- Annual Installed UES Energy Capacity by Application Segment, All Technologies, World Markets: 2021-2030
- Annual Installed UES Deployment Revenue by Region, All Technologies and Application Segments, World Markets: 2021-2030
- Annual Installed UES Deployment Revenue by Technology, All Application Segments, World Markets: 2021-2030
- Annual Installed UES Deployment Revenue by Application Segment, All Technologies, World Markets: 2021-2030
- Annual Installed UES Power Capacity Additions by Technology and Application Segment, North America: 2021-2030
- Annual Installed UES Energy Capacity Additions by Technology and Application Segment, North America: 2021-2030
- Annual Installed UES Deployment Revenue by Technology and Application Segment, North America: 2021-2030
- Annual Installed UES Power Capacity Additions by Technology and Application Segment, Western Europe: 2021-2030
- Annual Installed UES Energy Capacity Additions by Technology and Application Segment, Western Europe: 2021-2030
- Annual Installed UES Deployment Revenue by Technology and Application Segment, Western Europe: 2021-2030
- Annual Installed UES Power Capacity Additions by Technology and Application Segment, Eastern Europe: 2021-2030
- Annual Installed UES Energy Capacity Additions by Technology and Application Segment, Eastern Europe: 2021-2030
- Annual Installed UES Deployment Revenue by Technology and Application Segment, Eastern Europe: 2021-2030
- Annual Installed UES Power Capacity Additions by Technology and Application Segment, Asia Pacific: 2021-2030
- Annual Installed UES Energy Capacity Additions by Technology and Application Segment, Asia Pacific: 2021-2030
- Annual Installed UES Deployment Revenue by Technology and Application Segment, Asia Pacific: 2021-2030
- Annual Installed UES Power Capacity Additions by Technology and Application Segment, Latin America: 2021-2030
- Annual Installed UES Energy Capacity Additions by Technology and Application Segment, Latin America: 2021-2030
- Annual Installed UES Deployment Revenue by Technology and Application Segment, Latin America: 2021-2030
- Annual Installed UES Power Capacity Additions by Technology and Application Segment, Middle East: 2021-2030
- Annual Installed UES Energy Capacity Additions by Technology and Application Segment, Middle East: 2021-2030
- Annual Installed UES Deployment Revenue by Technology and Application Segment, Middle East: 2021-2030
- Annual Installed UES Power Capacity Additions by Technology and Application Segment, Africa: 2021-2030
- Annual Installed UES Energy Capacity Additions by Technology and Application Segment, Africa: 2021-2030
- Annual Installed UES Deployment Revenue by Technology and Application Segment, Africa: 2021-2030
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