1Q 2018

Market Data: Energy Storage for the Grid and Ancillary Services

Global Market Drivers, Trends, and Forecasts for the Large-Scale Energy Storage Industry: 2018-2027

The utility-scale market focuses on energy storage for the grid and ancillary services (ESGAS), which refers to five of the most common applications for energy storage situated on the utility side of the meter. While this industry has matured significantly over the past 2 years, activity remains concentrated in select countries. In these countries, the availability of financing, favorable regulations, and innovative business models are helping to drive unprecedented growth. New projects are increasingly being announced in countries outside these core markets, but sustained growth remains a challenge.

The growth of energy storage is expected to continue following the increasing development of renewable generation. Many countries have recently seen significant growth in renewable generation, but energy storage has yet to take hold. This is expected to change in the coming years as energy storage system (ESS) prices continue to decline and project developers gain experience efficiently building, integrating, and monetizing ESSs alongside renewable plants. Perhaps the most significant trend demonstrating the growing maturity and potential of this industry has been the availability of financing driven by greater investor confidence and the involvement of larger corporations. As previously built projects continue to bring stable returns and significant value for grid operators, new companies are entering the market to provide capital, project development expertise, and access to new markets.

This Navigant Research report provides an update on the market drivers, technology and application issues, and regional market developments related to the global ESGAS market. The study examines key ESGAS trends, challenges, and growth projections. Global market forecasts, segmented by region, technology, and application segment, extend through 2027. The report also examines trends in the development of combined renewable energy and ESS plants around the world, as well as the major merger and acquisition activity in the global utility-scale energy storage industry.

Pages 38
Tables | Charts | Figures 48

  • What are the leading applications and services on the grid for energy storage?
  • How large is the global market for energy storage for the grid and ancillary services (ESGAS)?
  • How will the mix of services being provided by energy storage change by region?
  • How quickly will the global market for bulk and short-duration energy storage grow and why?
  • Which energy storage technologies for power and energy services will lead the market?
  • What countries and global regions will lead the market for grid-scale energy storage?
  • Which markets should ESGAS technology providers target and why?

  • Energy storage developers and independent power producers
  • Energy storage technology firms
  • Smart grid controls and software companies
  • Inverter and other balance-of-system vendors
  • Utilities
  • Renewable energy development financing companies
  • Government and regulatory agencies
  • Investor community

1. Executive Summary

1.1   Introduction

1.2   Market Drivers

1.3   Market Forecasts

2. Market Issues

2.1   Market Overview

2.1.1   Generation Capacity

2.1.2   T&D Asset Optimization

2.1.3   Frequency Regulation

2.1.4   Volt/VAR Support

2.1.5   Renewables Ramping/Smoothing

2.2   Technology Issues

2.3   Regional Market Developments

2.3.1   North America

2.3.2   Europe

2.3.3   Asia Pacific

2.3.3.1   Australia

2.3.3.2   China

2.3.3.3   Japan

2.3.3.4   India

2.3.3.5   Rest of Asia Pacific

2.3.4   Latin America

2.3.5   Middle East & Africa

3. Market Forecasts

3.1   Methodology and Assumptions

3.2   ESGAS System Costs

3.3   Forecasts by Region

3.4   Forecasts by Application

3.5   Forecasts by Technology

3.6   Conclusions and Recommendations

4. Acronym and Abbreviation List

5. Table of Contents

6. Table of Charts and Figures

7. Scope of Study, Sources and Methodology, Notes

  • Total Power Capacity of New Projects Announced by Technology, World Markets: 2016-2017
  • ESGAS CAPEX Assumptions by Technology for Power Services, Average Installed Costs, World Markets: 2018-2027
  • ESGAS CAPEX Assumptions by Technology for Energy Services, Average Installed Costs, World Markets: 2018-2027
  • Annual Installed ESGAS Power Capacity and Revenue by Region, All Technologies and Application Segments, World Markets: 2018-2027
  • Annual Installed ESGAS Power Capacity and Revenue by Application Segment, All Technologies, World Markets: 2018-2027
  • Annual Installed ESGAS Energy Capacity and Revenue by Application Segment, All Technologies, World Markets: 2018-2027
  • Annual Installed ESGAS Power Capacity and Revenue by Technology, All Application Segments, World Markets: 2018-2027
  • Annual Installed ESGAS Energy Capacity and Revenue by Technology, All Application Segments, World Markets: 2018-2027
  • Estimated Average Variable Generation Curtailment Rates in Select Countries, Most Recent Data Available

  • ESGAS Application Details
  • Publicly Announced Deployed and Pipeline ESGAS Power Capacity by Region: 1Q 2018
  • Number of Announced New Projects and Total Power Capacity of New Projects by Technology, World Markets: 2016-2017
  • Annual Installed Utility-Scale Wind Power Capacity by Region, World Markets: 2018-2027
  • Annual Installed Utility-Scale Solar PV Power Capacity by Region, World Markets: 2018-2027
  • Estimated Average Variable Generation Curtailment Rates in Select Countries: Most Recent Data Available
  • Estimated Average Wholesale Electricity Prices in Select Countries: 2016 or Most Recent Data Available
  • Overview of ESGAS Applications by Function
  • Utility-Scale Energy Storage System Installed Cost (CAPEX) Assumptions by Technology, World Averages: 2018-2027
  • Annual Installed ESGAS Power Capacity by Region, All Technologies and Application Segments: 2018-2027
  • Annual Installed ESGAS Power Capacity by Technology, All Application Segments, World Markets: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment, All Technologies, World Markets: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Region, All Technologies and Application Segments, World Markets: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Technology, All Application Segments, World Markets: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment, All Technologies, World Markets: 2018-2027
  • Annual Installed ESGAS Deployment Revenue by Region, All Technologies and Application Segments, World Markets: 2018-2027
  • Annual Installed ESGAS Deployment Revenue by Technology, All Application Segments, World Markets: 2018-2027
  • Annual Installed ESGAS Deployment Revenue by Application Segment, All Technologies, World Markets: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment and Technology, North America: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment and Technology, North America: 2018-2027
  • Annual Installed ESGAS Revenue by Application Segment and Technology, North America: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment and Technology, Western Europe: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment and Technology, Western Europe: 2018-2027
  • Annual Installed ESGAS Revenue by Application Segment and Technology, Western Europe: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment and Technology, Eastern Europe: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment and Technology, Eastern Europe: 2018-2027
  • Annual Installed ESGAS Revenue by Application Segment and Technology, Eastern Europe: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment and Technology, Asia Pacific: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment and Technology, Asia Pacific: 2018-2027
  • Annual Installed ESGAS Revenue by Application Segment and Technology, Asia Pacific: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment and Technology, Latin America: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment and Technology, Latin America: 2018-2027
  • Annual Installed ESGAS Revenue by Application Segment and Technology, Latin America: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment and Technology, Middle East: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment and Technology, Middle East: 2018-2027
  • Annual Installed ESGAS Revenue by Application Segment and Technology, Middle East: 2018-2027
  • Annual Installed ESGAS Power Capacity by Application Segment and Technology, Africa: 2018-2027
  • Annual Installed ESGAS Energy Capacity by Application Segment and Technology, Africa: 2018-2027
  • Annual Installed ESGAS Revenue by Application Segment and Technology, Africa: 2018-2027

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