Hybrid energy storage systems offer increased efficiency and lifetime as well as the ability to do more with less overall storage capacity
A new report from Navigant Research examines the global market for utility-scale and customer-sited hybrid energy storage systems (HESSs), providing forecasts for power capacity, energy capacity, and revenue, segmented by region, technology, and market segment, through 2026.
The stationary energy storage industry is now exploring grid-scale hybrid solutions, or HESSs, which integrate two or more energy storage technologies with complementary operating characteristics. These systems deliver power capacity, energy duration, and cycle life in a single system that is not achievable by any one energy storage technology. Click to tweet: According to a new white paper from @NavigantRSRCH, global installed HESS power capacity is expected to grow from 78.6 MW in 2017 to 2.1 GW in 2026.
“Much of the growth of the HESS industry is expected to occur alongside the maturation of pure-play battery energy storage technology,” says Ian McClenny, research analyst with Navigant Research. “The future of the HESS industry in global markets will be largely decided by customer and grid operator needs, evolving market structures to value flexible resources favorably, and the local utilities’ views on new technology.”
HESSs have the potential to change the energy storage landscape and give customers more efficient, cost effective options to service their needs, according to the report. The advantages to deploying HESSs over typical stationary ESSs include lower cost, increased system efficiency, increased system lifetime due to optimized operation, and the ability to do more and last longer with less overall storage capacity.
The report, Hybrid Advanced Battery Markets, analyzes the global market for utility-scale and customer-sited HESSs. The study examines the market drivers and barriers and technological trends affecting the deployment of HESSs around the world. Global forecasts for power capacity, energy capacity, and revenue, segmented by region, technology, and market segment, extend through 2026. The report focuses on current and future technologies in the HESS market, including battery-battery, battery-capacitor, and other hybrid systems. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, Hybrid Advanced Battery Markets, 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.