|By Business Wire||
|July 1, 2013 09:15 AM EDT||
More than 1,300 gigawatts (GW) of wind and solar power generation capacity are expected to come online in the next 10 years, creating an unprecedented amount of instability on the grid—particularly in key markets within North America, Western Europe, and Asia Pacific. As grid operators adapt to increasing levels of variable generation on their systems, energy storage systems (ESSs) will become an integral element of their overall strategies. According to a new report from Navigant Research, the installed capacity of energy storage systems for solar and wind power integration will total 21.8 GW from 2013 to 2023.
“Several of the major markets for renewables, including Germany, Japan, and the United States, have enacted rules or legislation encouraging the adoption of energy storage systems for the purpose of integrating variable energy sources onto the grid,” says Anissa Dehamna, senior research analyst with Navigant Research. “These market incentives come in various forms, including outright subsidies for ESS adoption, reforms that change how variable generation is compensated, and adjustments to connection requirements for variable power plants.”
In particular, changes to the compensation arrangements for variable power generation will have significant influence on the market for ESSs for solar and wind. Compensation mechanisms have changed drastically over the past 10 years, according to the report, and many compensation schemes have grandfather clauses—meaning that older wind and solar systems have much different compensation rates and structures than newer systems coming online.
The report, “Energy Storage for Wind and Solar Integration”, analyzes the global market opportunity for energy storage for wind and solar integration across three key application segments: wind, non-distributed solar photovoltaics (PV), and distributed solar PV. The report provides a comprehensive assessment of the demand drivers, policy factors, and technology issues associated with the market for energy storage in these growing applications. Key industry players are profiled and worldwide revenue and capacity forecasts, segmented by application, technology and region, extend through 2023. A business case analysis including global estimates of curtailed renewable energy and the market value of this energy is also included. 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 Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
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, “Energy Storage for Wind and Solar Integration,” 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.
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