Utility Power Storage Technologies
- The global market for electric energy storage (EES) systems will increase from $2.3 billion in 2007 to an estimated $2.6 billion by the end of 2008. It should reach $3.8 billion by 2013, a compound annual growth rate (CAGR) of 8.0%.
- With improving technologies and falling costs, EES has the potential to defer capital investments, aid in energy arbitrage and lessen environmental impacts.
- The lion’s share of EES activity is taking place in the U.S.
The goal of BCC Research in conducting this study was to determine the status of the electric energy storage (EES) industry and assess its potential growth over the 5 year period from 2008 to 2013. We were interested in how utilities are planning to use storage technology to meet the growing demands of modern power delivery and how these plans will affect this market.
SCOPE OF STUDY
This report contains:
- Descriptions of various types of electric energy storage (EES) technologies including pumped hydro, compressed air energy, lead-acid batteries, sodium sulfur batteries, vanadium redox flow batteries, flywheels, superconducting magnetic storage and supercapacitors
- The current market status of the EES industry, with trends and forecasts for growth over the next 5 years
- Analysis of EES-related patents issued during the past 3 years
- Profiles of major companies working in EES.
This report presents an analysis by each storage technology shipped in 2008. Our estimated value is based on the total revenues being spent on each technology including new equipment, upgrades, refurbishments, and replacement devices. It also includes revenues for R&D activities by both public and private organizations.
BCC attempted to incorporate the latest industry information available for this report. Efforts included surveying 32 companies, 8 industry and R&D associations as well as gathering pertinent information from power surveys, institutional studies and association newsletters. We also performed a U.S. patent analysis for each technology including a break down of patents issued in years 2005, 2006, and 2007.
Dan Pepper holds a Master's degree in Technology from Mississippi State University, and has been involved with grants issues from the U.S. Dept. of Energy in various facets of "Appropriate Technology." He also has done work in environmental membrane design for various industrial and municipal clients. He has authored several research reports for BCC Research and Gale Research.