|By Business Wire||
|October 3, 2012 05:00 AM EDT||
The electric power grid is required to maintain a near real-time balance between supply and demand. Frequency regulation services manage the minute-to-minute fluctuations in load by absorbing power from the grid or providing small surges of power in response to tiny changes in system frequency. Such fluctuations are expected to increase as intermittent, renewable energy sources account for a larger percentage of total power generation. According to a new report from Pike Research, a part of Navigant’s Energy Practice, the worldwide frequency regulation market, in terms of delivered capacity, will grow from 45 gigawatts (GW) in 2012 to more than 55 GW in 2022.
“The value of the frequency regulation market is directly tied to the level of government regulation in a given market,” says research analyst Anissa Dehamna. “For vertically integrated power utilities in regulated markets, these services are simply a cost of doing business. However, in deregulated markets, frequency regulation falls under the category of ancillary services, and can be provided as a high-value service either by power generators or independent service providers, using a variety of devices.”
While frequency regulation has traditionally been provided by power generation assets (such as coal and natural gas), the technology mix of assets delivering frequency regulation services will continue to diversify, the report concludes. In more developed markets in North America, Europe, and Asia Pacific, utilities and grid operators are becoming more open to alternatives such as energy storage. By 2022, energy storage systems will be delivering between 3 GW and 7 GW worth of frequency regulation services, according to the report.
The report, “Frequency Regulation for the Grid”, analyzes the global market for frequency regulation including capacity supplied by coal power plants, natural gas power plants, nuclear power plants, and energy storage systems. The report provides a comprehensive assessment of the demand drivers, business models, policies, and technology issues associated with the frequency regulation market. Key industry players are profiled in depth and worldwide revenue and capacity forecasts, segmented by technology and region, extend through 2022. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant’s global Energy Practice on July 1, 2012, provides in-depth analysis of 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 Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Frequency Regulation for the Grid,” is a summary and reflects Pike 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 Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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