ABB_id2059
in News Departments
print the content item

According to a new technical market research report, "Utility Power Storage Technologies" from BCC Research, the global market for electric energy storage (EES) is expected to be worth $2.6 billion in 2008. This is expected to increase to over $3.8 billion by 2013, a compound average annual growth rate (CAGR) of 8%.

The report breaks down the t market into EES core applications and the power conversion systems that are needed to control and interface these technologies with the power grid. The EES core technologies segment is expected to be worth $1.9 billion in 2008 and reach $2.7 billion by 2013, a CAGR of 7.6%.

The EES core storage technologies of pumped hydro storage, compressed air energy storage, lead-acid batteries, sodium sulfur batteries, vanadium redox flow batteries, flywheels, superconducting magnetic energy storage and supercapacitors are positioned to make a significant impact over the next five years. These technologies can be deployed in various applications along the power chain, including use in bulk generation, transmission and distribution, as well as providing enhanced services for the end user.

Total revenue for EES power conversion systems is expected to reach $711 million in 2008. That figure is expected to rise at a CAGR of 8.9% and reach $1.1 billion by 2013.


Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015