BOULDER, Colo.--(BUSINESS WIRE)--A recent report from Navigant Research provides an overview of issues facing utilities as they seek to integrate energy storage, including strategies and examples from countries around the world.
Utilities represent one of the most important drivers for enabling energy storage to scale globally due to buying power and other factors, making continued innovation important. Three regions are driving market development via large- and small-scale systems. Click to tweet: According to a recent report from @NavigantRSRCH, utilities in North America, Europe, and Asia Pacific have emerged as the top global consumers of energy storage.
“Utilities around the world are exploring different approaches to working with energy storage technologies, which are complex and can present risks,” says Anissa Dehamna, principal research analyst with Navigant Research. “These challenges, however, are driving innovation in the industry, particularly around energy storage systems (ESSs).”
Cost-effective advanced energy storage technologies are providing utilities and grid operators with new tools to improve system reliability and lower costs. According to the report, in 2014 and 2015, utilities worldwide deployed roughly 124.3 MW of energy storage, accounting for about 23 percent of all systems deployed during that time period.
The report, Utility Energy Storage Strategies, provides an overview of issues facing utilities as they seek to integrate energy storage and the approaches being taken. The study examines the major approaches utilities are using with energy storage, including the investment, virtual power plant (VPP), and product strategies. Specific attention is given to the risks associated with each strategy being explored by utilities. Examples from around the world detail the various approaches being employed to work with the dynamic and valuable new technologies associated with energy storage. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Utility Energy Storage Strategies, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.