Li-ion Battery Market for Energy Storage Systems (ESS) in the US 2015-2019
About Li-ion for ESS
Energy storage is a mechanism of storing electricity during the off-peak period and supplying the stored electricity during the on-peak period. An ESS stores the excess electricity, which can be utilized during power shortages, power blackouts, and peak hours of demand. Various technologies such as pumped-hydro storage systems, flywheels, advanced batteries (Li-ion), and other evolving technologies such as CAES are available for ESS. Li-ion batteries are increasingly being preferred because of their inherent advantages such as high dynamic charge acceptance, longer shelf life, reliability, and lower total cost of ownership. Rapid technological evolution will enable large-scale storage of electricity in Li-ion batteries. Such electricity storage is required when the amount of electricity generated is greater than the electricity demand.
Technavio's analysts forecast the Li-ion battery market for ESS in the US to grow at a CAGR of 24.9% over the period 2014-2019.
Covered in this Report
The Li-ion battery market for ESS in the US has been segmented of the basis of technology and key leading states.
Technavio's report, Li-ion Battery Market for ESS in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Li-ion Battery Market for Energy Storage Systems (ESS) in the US 2015-2019
Technavio recognizes the following companies as the key players in the li-ion battery market for energy storage systems (ESS) in the US: A123 Systems, Build Your Dream, Kokam, LG Chem, Panasonice, SAFT and Samsung SDI
Other Prominent Vendors in the market are: AllCell Technologies, Altair Nanotechnologies, Boston Power, CODA Energy Holdings, Enerdel, K2 Energy, Lithium Energy Japan, NEC Energy, S&C Electric, Seeo and Valence
Commenting on the report, an analyst from Technavio’s team said: “Currently, the country is shifting away from a centralized power system to a distributed or decentralized generation system. The country is dependent on fossil fuels for energy generation. However, the long cycle of construction required for fossil fuel plants has increased the dependency on decentralized energy resources. Centralized power plants are located in remote locations far away from the residential areas to eliminate the effects of the hazardous emissions discharged by these plants. However, a drawback of centralized power plants is the huge electricity loss that takes place during power transmission. This has led to the emergence of decentralized power generation in the country, most of which generates power from renewable energy sources, such as wind and solar. Thus, with the increasing generation of energy from decentralized plants, there is likely to be a rise in the demand for ESS, thereby driving the demand for Li-ion batteries.”
According to the report, the demand for Li-ion batteries in grid energy storage has increased over the years because of greater fluctuations in the supply of and demand for electricity. The growth in renewable energy production, especially in wind and solar energy, in the recent past has led to increased need for grid energy storage.
Further, the report states that high initial investments and the high per unit cost of Li-ion for ESS makes investors reluctant to invest in Li-ion technologies, thereby hampering market growth.
A123 Systems, Build Your Dream, Kokam, LG Chem, Panasonice, SAFT, Samsung SDI, AllCell Technologies, Altair Nanotechnologies, Boston Power, CODA Energy Holdings, Enerdel, K2 Energy, Lithium Energy Japan, NEC Energy, S&C Electric, Seeo, Valence
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