BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research tracks global energy storage projects, providing data on the country, region, market segment, capacity, status, technology vendor, systems integrator, applications, funding, investment, and key milestones of each project.
Once considered a nonessential but desirable addition to renewable energy projects, energy storage is now shifting into a standalone solution that provides customers and system owners significant value. In 2017, new projects are being announced on a weekly basis as the global energy storage industry continues to explore different business cases that make energy storage systems (ESSs) profitable. Click to tweet: According to a new report from @NavigantRSRCH, worldwide, more than 1,420 energy storage projects, encompassing more than 43,000 individual systems, exist.
“Overall, the global energy storage industry is poised to continue to grow quickly over the next several years,” says Ian McClenny, research analyst with Navigant Research. “With emerging infrastructure becoming increasingly integrated, dynamic, and complex, flexible resources like storage will provide added value to existing and new power generating assets.”
Recent market developments include an uptick in projects in the distributed sector, particularly for microgrids and the commercial and industrial segment. Meanwhile, utility-scale systems are down quarter over quarter and year over year, according to the report.
The report, Energy Storage Tracker 1Q17, provides a comprehensive resource of global energy storage projects. The Tracker includes a database of 1,420 projects (encompassing at least 43,083 individual systems) and tracks the country, region, market segment, capacity, status, technology vendor, systems integrator, applications, funding, investment, and key milestones of each project. In addition, the report includes an analysis of the technology choice within each major region for energy storage, analysis of the leading regions for energy storage capacity and projects, and market share analysis for technology vendors for deployed projects and projects in the pipeline. 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 Tracker 1Q17, 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.