Advanced Energy Storage Systems Market size may reach USD 7.17 billion by 2022; according to a new research report by Global Market Insights, Inc.

Increasing power consumption, driven by residential, commercial and infrastructure needs in BRIC economies accompanied by favourable regulatory compliances to use electric vehicles are key factors stimulating global advanced energy storage systems market size growth. Asia pacific is forecast to witness highest gains at 15.8% CAGR up to 2022. Rising industrialization accompanied by enhanced consumer lifestyle in India and China are major reasons foster regional growth.

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Amid falling profits and long-term questions, global oil “supermajors” need to follow in the footsteps of France-based Total – which recently bought energy storage company Saft for $1 billion – and explore opportunities not only in batteries, but also in solar and distributed generation, according to a new report from Lux Research.

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When Elon Musk unveiled his intent to acquire the solar installer SolarCity, many observers and investors balked.

Some have wondered if the deal amounts to nothing more than a bailout for the Musk-supported SolarCity at Tesla’s expense. After all, what does a car company have to do with putting modules on people’s roofs? The business models are very different.

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SEOUL, South Korea, Aug. 8, 2016 /PRNewswire/ — Kokam Co., Ltd, the world’s premier provider of innovative battery solutions, today announced that South Korea’s largest utility, Korea Electric Power Corporation (KEPCO) (NYSE: KEP), has awarded it a contract to develop a 36-megawatt (MW) system / 13-megawatt hour (MWh) Energy Storage System (ESS) for frequency regulation at the Non-Gong substation in South Korea. The project features a combination of two unique Kokam Lithium Ion battery technologies — its Ultra High Power Nickel Manganese Cobalt (NMC) battery technology and its NANO battery technology. Work on the project began in June 2016 and is scheduled to be completed by December of 2016.

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The energy-storage market will go “ballistic” in the final two months of this year, Tesla Motors CEO Elon Musk said Wednesday, when the company ramps up production of batteries he promises will be “head and shoulders above anything else I’ve even heard announced as future plans from other companies.”

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Pacific Gas and Electric (PG&E) recently started the process of shutting down the Diablo Canyon generation facility, the last active nuclear power plant in California. The power plant, located near Avila Beach on the central Californian coast, consists of two 1,100 megawatt (MW) reactors and produces 18,000 gigawatt-hours (GWh) of electricity a year, about 8.5 percent of California’s electricity consumption in 2015. It has been, up until this point, the single largest electrical generation facility in the state.

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BOULDER, Colo.–(BUSINESS WIRE)–A new report from Navigant Research tracks developments and trends in the advanced batteries market from shipments in 2015, including comprehensive documentation for energy capacity (MWh), power capacity (MW), cells shipped, and revenue, across global regions.

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According to a new report from GTM Research, The German Energy Storage Market: 2016-2021, Germany’s energy storage market will grow elevenfold in megawatt terms between 2015 and 2021 to reach an annual value of $1.03 billion.

Germany is already one of the world’s leading energy storage markets. At the end of 2015, Germany was home to 67 megawatts of energy storage (128 megawatt-hours) with a value of $169 million. Factors including the nation’s declining feed-in tariffs, high retail electricity rates and abundance of installed renewables make it an attractive market for the energy storage value proposition.

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The global energy storage market is expected to double in 2016, growing from 1.4 GWh to 2.9 GWh by the end of the year, before continuing to skyrocket, reaching 21 GWh by 2025.

These are the latest figures from a new report published by information and analysis company IHS Markit, released this week, which investigates the global energy storage market. The authors of the report also concluded that Lithium-ion batteries will become the mainstream energy storage technology, and will account for 80% of all global energy storage installations by 2025.

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It’s easy to focus on states where the burgeoning commercial energy storage markets are already thriving.

“Everyone knows California and New York are ripe,” said Ravi Manghani, GTM Research’s director of energy storage.

But there are some sleeper states where the economics already work, even though rates of adoption are low. A new report from GTM Research, The Economics of Commercial Energy Storage in the U.S, outlines the states where demand charges at the largest utility in each state would create a favorable rate of return for commercial energy storage. Even if the numbers pencil out, however, there can be other factors that help or hinder behind-the-meter energy storage, from fire codes to utility regulation.

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