In a recent market research report published by Yole Developpment (Energy Management for Smart Grid, CiTIes and Buildings: OpportuniTIes for Battery Electricity Storage SoluTIons), the use of battery storage solutions can reduce the cost of load transfer and within one day. Stabilizing the frequency of the power network to add power to existing systems; in addition, this approach to avoiding traditional power consumption models can provide advantages such as access to clean energy, reduced carbon dioxide emissions, and energy independence.
Yole analysts expect that the energy storage system market is expected to exceed $13.5 billion in 2023 as the traditional power supply business model based on centralized energy is gradually being phased out.
“Intermittent renewable energy sources (such as wind power, solar energy) continue to expand in the overall power supply market, and the demand for fixed battery energy storage systems is growing strongly;†Yole senior analyst Milan Rosina said: “Recently in China Cases in Japan and some European countries show that the further deployment of renewable energy in many regions of the world will drive the upgrading of power networks, the larger deployment of suitable energy storage systems, and the development of appropriate energy management solutions."
According to Yole's report, batteries are especially attractive for energy storage systems in buildings with both solar and traditional power systems; when the electricity generated by solar power is left, it can be stored in the battery, and then Use it again during periods of high electricity bills. As for the low electricity time at night, the electricity from the traditional grid is reused; in addition, the excess electricity generated locally can be sold back to the power company.
Yole Developpment expects the fixed battery market to reach nearly $14 million by 2023
Source:Yole Developpment
Yole analysts also expect that there will be a "community storage" model that links large-scale battery systems in neighborhoods with solar-powered rooftops; the agency believes that the primary target application for energy storage systems will be residential.
“The residential energy storage system has a relatively low market threshold and strong synergies with other products/applications;†Yole analyst Coralie Le Bret said: “The value chain of the residential power storage market is still highly fragmented and there are many small businesses. -- According to statistics, more than 50 manufacturers have already launched commercial solutions, and other companies are also preparing to launch related products in a short period of time."
Yole doesn't mention which vendors will introduce new battery products, but says that the various sectors of the energy industry—power generation, transmission, distribution, storage, and consumption—allow different vendors to enter this market segment from different verticals; Several battery integrators have designed large-scale battery systems for residential or transportation systems and stationary energy storage devices to enter this market.
In addition, automakers such as Tesla, BYD, Toyota, Nissan and their suppliers are also building energy storage systems; these are compared to “pure†fixed energy storage equipment manufacturers. The car manufacturer is profitable because it has the advantage of being able to purchase high-capacity battery cells at a lower price. Yole analysts believe that the consolidation and alliance of the automotive industry will shape the fixed energy storage market in the next few years.
Other energy storage solutions will continue to co-exist, and other solutions such as batteries and flywheel energy storage systems will support a variety of usage scenarios for different power needs. Yole also pointed out that the pumped hydro power used in large power storage systems may be applied to backup energy or load transfer.
Compilation: Judith Cheng
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