BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the global market dynamics for energy storage systems (ESSs) that provide transmission and distribution (T&D) deferral and asset optimization.
Historically, building new T&D infrastructure was the default solution to issues facing the electricity grid, including increased load growth or waning reliability. Today, stationary energy storage technology can be used to defer upgrades for these types of issues—and in a faster and less expensive manner. Click to tweet: According to a new report from @NavigantRSRCH, global installed energy storage power capacity for T&D deferral is expected to grow from 331.7 MW in 2017 to 14,324.8 MW in 2026.
“The major advantage energy storage has compared to conventional T&D upgrades results from the flexibility related to how storage systems can be deployed and the variety of services they can provide,” says Alex Eller, research analyst with Navigant Research. “Unlike most grid infrastructure systems, ESSs can be deployed in small, modular increments as needed to serve growing demand with limited risk of oversizing or stranding assets.”
These types of deployments are expected to increase in coming years as they bypass many of the typical challenges associated with large-scale transmission projects, including community concerns, timelines around project development and build, as well as uncertainty around future load growth and demand patterns. As the cost of energy storage technology continues to decrease, these deployments are becoming an increasingly economical alternative to conventional T&D investments.
The report, Energy Storage for Transmission and Distribution Deferral, examines the global trends and market dynamics for ESSs providing T&D deferral and asset optimization. The study includes an analysis of the advantages of energy storage over alternatives, along with the major drivers and barriers. Global market forecasts for capacity and revenue, broken out by market segment (transmission asset optimization, distribution asset optimization, and behind-the-meter storage) and region, extend through 2026. The report also examines the costs and benefits related to energy storage for T&D deferral, as well as notable case studies. 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, Energy Storage for Transmission and Distribution Deferral, 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.