June 10, 2013
The market for energy storage in commercial buildings is nascent and developing. Although one segment, energy storage systems for uninterruptible power supply (UPS) systems, is mature, the business models for the other two segments within this market – electrical energy storage (EES) systems and thermal energy storage (TES) systems – are still evolving. According to a recent report from Navigant Research, annual revenue from energy storage systems for commercial buildings will grow from $3.9 billion in 2013 to more than $7.5 billion in 2022.
“Today, there is less than 10 gigawatt-hours of cumulative energy storage capacity represented by all commercial building systems, and the vast majority of that capacity is frozen behind meters in UPS systems that are rarely, if ever, called upon,” says Sam Jaffe, senior research analyst with Navigant Research. “By 2022, such systems will represent a global cumulative capacity of more than 30 gigawatt-hours, most of which will be interacting with the power grids throughout the world on a daily basis.”
The future growth of TES and EES systems is primarily reliant on expectations of regulatory changes. As TES and EES systems begin to reach critical mass, their overall energy capacity will start to become significant, the study concludes. When combined with residential energy storage systems and utility-owned storage systems, energy storage will have a greater impact on the capacity of the grid to absorb more renewable power, and will increase overall system power reliability and quality.
The report, “Energy Storage in Commercial Buildings”, analyzes the global market opportunity for commercial building energy storage across all three key segments: UPS energy storage systems, electrical energy storage systems, and thermal energy storage systems. The report provides a comprehensive assessment of the demand drivers, business models, policy factors, and technology issues associated with the dynamic commercial building energy storage space. Key industry players are profiled in depth and worldwide revenue and capacity forecasts, segmented by application and region, extend through 2022. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Richard Martin
* The information contained in this press release concerning the report, “Energy Storage in Commercial Buildings,” 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.