Research and Markets: Electricity Storage Technologies: Market Penetration and Roadmapping

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/7cce9c/electricity_storag) has announced the addition of Frost & Sullivan's new report "Electricity Storage Technologies: Market Penetration and Roadmapping" to their offering.

“Electricity Storage Technologies: Market Penetration and Roadmapping”

Today all electric energy that is generated need to be used immediately. This is not the ideal situation, especially when considering the variability of renewable energy generation. In this situation, electric energy storage technologies are critical, as it enables wider adoption of renewable energy as well as improves grid stabilization. Currently there is very limited number of technologies that allows for storing energy in a cost effective way, especially at the utility scale.

This Frost & Sullivan research service titled Electricity Storage Technologies: Market Penetration and Roadmapping provides a snapshot on the latest technology developments and an analysis of emerging electric energy storage technologies adoption factors and trends.

Technology Overview

Electric Energy Storage Systems to Enable Wider Renewable Energy Usage

Electric energy storage systems are crucial for the further development and transformation of a range of sectors including renewable energy, automotives, grid stabilization, smart grids, back-up power, and portable devices. Big scale, reliable, and durable electric energy storage technologies will enhance the usage and commercial attractiveness of intermittent renewable energy sources, such as wind and solar power. The most important drivers for developing electric energy storage systems are grid stability and reliability, mass integration of intermittent renewable energy generators, better use of energy resources, fossil fuels shortage and limiting of greenhouse gases, notes the analyst of this research. Electric energy storage technologies will be an inseparable part of smart grids and distributed energy generating systems in the future.

Among the various electric energy storage systems, advanced batteries are set to attract the greatest interest in the near future. This is because of their flexibility in use allowing for be used in grid balancing and connecting intermittent renewable energy generators to the main electric grid. Frost & Sullivan research reveals that lithium-ion batteries will play the most important role in the future of electric energy storage systems over the next 5-7 years, states the analyst. Electric vehicles (EVs) will be a key and sizeable application area for this technology.

Few Technological Issues Need to Be Addressed on Priority Basis

Other electric energy storage technologies include flywheels and compressed air energy storage (CAES) systems. Advanced adiabatic CAES systems are anticipated to play an important role in enabling the safe connection of big wind farms to the main electric grid in an economic viable way. Nevertheless, all of these systems are still either at the developmental stage (advanced batteries) or are not yet mature (CAES), explains the analyst. Currently, the only available and economically viable storage system is pumped hydro whose use is significantly limited because of the need for proximity to large water reservoirs.

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