Energy Storage: market research reports

Energy storage systems provide the ability to balance power demand and supply, reduce electric surges and sags, maintain power frequency, and ensure power remains available for critical loads when power outages occur. They can also provide enough power to maintain operations until systems can be shut down in an orderly fashion or provide enough power until other on-site generation sources come on-line.

Energy storage solutions additionally afford several strategic benefits such as improved flexibility for grid operators, increased national energy security, and reduced environmental impact.

The financial benefits of energy storage within the generation, transmission, and distribution system are numerous. With the incorporation of energy storage into the grid, the utility sector and customers can expect reduced financial losses due to outages and poor power quality. Energy storage solutions can improve the efficiency of, and thus reduce the costs associated with, load following, frequency regulation and provision of reserves. They can also improve the return on renewable energy generation investments, enable profitable power market arbitrage, enable the deferral of electric infrastructure investments, and reduce end-user electricity costs.

Energy storage solutions can help to maximize the capacity of current infrastructure while improving power quality and reliability. Demand for energy storage solutions is expected to further benefit from the growing trends in the adoption of renewable energy generation and microgrid solutions. The significant public and private investments currently being made are also expected to bolster the growth of energy storage solutions in the utility sector.