BOULDER, Colo.–(BUSINESS WIRE)–A new report from Navigant Research tracks global energy storage projects, providing data on the country, region, market segment, capacity, status, technology vendor, systems integrator, applications, funding, investment, and key milestones of each project.
Energy storage grants stakeholders flexibility on the generation, transmission, distribution, and end-use sides of the grid. As a result, the energy storage landscape has grown increasingly sophisticated through 2018, marked by new types of projects that are being monetized by innovative business models. Click to tweet: According to a new report from @NavigantRSRCH, worldwide, more than 1,900 energy storage projects exist, marking an increase of about 200 projects since last year.
“Several new companies have entered the market across the energy storage value chain while legacy companies have sought to bolster their presence,” says Ian McClenny, research analyst with Navigant Research. “The growing need to modernize global electricity grids and the evolution of business cases for deploying storage ensure that this market will continue to grow quickly over the coming years.”
Other factors driving the energy storage market forward include the restructuring of electricity markets and an increase of variable generation sources. In addition, Navigant Research expects energy storage to increasingly become a viable option to meet changes in load, which will play a critical role in the structure and operation of the power grid.
The report, Energy Storage Tracker 4Q18, provides a comprehensive resource of global energy storage projects. The Tracker includes a database of 1,935 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. An Executive Summary of the report is available for free download on the Navigant Research website.
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