Connect with us

Hi, what are you looking for?

CleanTechnica

Batteries

Grid Energy Storage To Grow 56 Gigawatts By 2022

As we move step by slow step into a world where renewable energy is more and more a part of our energy infrastructure, the need for energy storage will continue to grow. The reality is that renewable energies such as solar and wind are not as consistent as we have grown accustomed to, and subsequently a shift is required in the way that we understand energy generation.

One such shift is energy storage, and technological development and financial investment has kept up to pace with the need, so far.

AES Battery Storage System

These containers hold 1.3 million batteries

Pike Research released a report on Wednesday that focused on long-duration or bulk energy storage, known as energy storage on the grid (ESG). Their findings predict that the market for ESG will grow dramatically in the next decade, with nearly 56 gigawatts installed between 2012 and 2022.

“Newer and emerging energy storage technologies – such as next-generation compressed air energy storage and pumped storage, as well as advanced batteries – are changing the energy storage space with innovations in efficiency, footprint, materials science, and system flexibility,” says senior research analyst Anissa Dehamna, from Pike Research. “These innovations will help enable grid operators to optimize grid assets, defer transmission and distribution upgrades, and integrate renewable energy sources.”

Currently energy storage companies are making a business by layering the applications to which energy storage can be put. Rather than relying on a single application — a risky proposition at the moment — the report notes that energy storage companies are delivering solutions for several issues with a single installation.

Looking into the next decade, Pike Research has identified the five key applications ESG will take;

  • grid asset optimisation
  • arbitrage
  • renewables integration for both wind and solar
  • transmission and distribution

ESG technologies that the report looks at include;

  • compressed air energy storage
  • pumped storage
  • NaS batteries
  • advanced lead acid batteries
  • flow batteries
  • Lithium Ion batteries

The report, “Energy Storage on the Grid”, uses an application driven forecast to determine the amount and revenue associated with the rapidly changing ESG market. An Executive Summary of the report is available for free download on the Pike Research website.

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Batteries

There were a couple of interesting developments in June in regards to electric power. One was that NextEra Energy issued its Investor Conference Report...

Green Economy

As You Sow has been raising the shareholder voice to increase corporate responsibility on a broad range of environmental issues such as waste reduction...

Clean Power

Everyone wants to live in a more energy-efficient world. People are constantly trying to find ways to help make our world more “clean,” yet...

Clean Power

How did I get into solar power? In 2015, during my Postdoc in Pretoria, I traveled to Zimbabwe and spent a few weeks there....

Copyright © 2022 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.