IDTechEx recently released an update of the report “Batteries for Stationary Energy Storage 2021-2031”. The report investigated the recent development of batteries for stationary energy storage, showing the forecast of battery installations and market size.
The “Batteries for Stationary Energy Storage 2021-2031” report shows the fast-growing scale of this market, analyzing the main technologies involved in this energetic revolution.
Caption: IDTechEx Battery Market Forecast ($bn). Source: IDTechEx, “Batteries for Stationary Energy Storage 2021-2031”
The way to produce electricity is changing; a growing amount of renewable energies are installed every day, and this has a strong impact on the electricity grid and, more in general, on the electricity market.
All the main countries in the world have adopted a renewable energy target, either to reach a specific % of energy produced by renewables or to install a defined amount of power, as is the case in India and in the American States of Texas and Iowa.
With a larger percentage of renewable energies adopted, because of their variable nature, the electricity grid is also facing an upgrade. To reach a large amount of renewable energy the adoption of an energy storage system is mandatory to allow consumers to have constant electricity availability.
Together with the installation of renewables, and the integration of energy storage systems, new companies are approaching the market to provide a large variety of services.
In the “Batteries for Stationary Energy Storage 2021-2031” report, it is shown that several countries are developing the concept of Virtual Power Plant (VPP) and Vehicle-to-Grid (V2G) to increase the resiliency of the power grid, maintaining low costs.
The reader will have access to a quick and in-depth overview of the current state of adoption and future development of batteries for stationary systems. Forecasts breakdown by country and power grid segment are provided, together with the market size.
In addition, because Li-ion batteries are dominating the stationary storage market, the different types of chemistries for stationary storage applications are analyzed. Moreover, an overview of other storage systems, such as Redox Flow Battery (RFB), hydrogen technologies, Compressed Air Energy Storage (CAES), and Gravitational Energy Storage (GES) is provided, showing their capability to address the market in the next years.
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