Energy storage is shifting from being considered a complementary addition to renewable energy projects to standalone solutions that provide customers and system owners with significant value. In 2016 and through 2017 thus far, traditional emerging markets in the energy storage sector became the prime targets for new and established industry participants. New projects are being announced regularly, and the global energy storage industry is continuing to explore business cases that make energy storage systems (ESSs) profitable. Innovative applications like renewables integration and behind-the-meter (BTM) systems are becoming more and more economically attractive, resulting in new geographic markets.
Navigant Research believes that improvements in energy storage technologies, regional regulatory and market drivers, and new business models are poised to make energy storage a viable part of the electricity grid. Several key factors are expected to drive the global need for increased deployments. For example, the restructuring of electricity markets will create new value streams for energy storage. The regulatory and economic structure of these markets will enable the valuation of energy storage benefits. In addition, load profiles will play a critical role in the structure and operation of the power grid, which will influence the development of energy storage markets. Navigant Research anticipates that energy storage will increasingly become a practical option to costly grid and substation upgrades to meet changes in load.
This Navigant Research report provides a comprehensive resource of global energy storage projects. The Tracker includes a database of 1,712 projects 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.