in News Departments > New & Noteworthy
print the content item

With the growth of renewable energy around the world, the need for utilities to capture and store electricity for later use is becoming increasingly important. The demand for energy storage is driven by several trends, including the proliferation of intermittent renewable energy sources such as wind and solar, the move toward smart grids, and the rise of plug-in hybrid and electric vehicles.

While storing electricity was once thought a practical impossibility, a variety of technologies have now emerged to disprove that theory, and the global energy-storage market is poised to grow from $329 million in 2008 to $4.1 billion by 2018, according to a new report from Pike Research.

One major challenge is that, unlike renewable energy, energy storage technologies have historically received very little support in the form of government subsidies and incentives, which has slowed development. This is beginning to change, however, and utilities will be the beneficiaries of significant U.S. government and venture capital investment in advanced batteries for the transportation sector, according to the research.

Pike Research's study, "Energy Storage Technology Markets," analyzes the opportunity for several key technology categories, including advanced batteries, pumped hydro, compressed air, flow batteries and frequency regulation for utility-scale applications. The report assesses energy-storage market drivers, challenges and regulatory/legislative issues, and also provides detailed market forecasts and profiles of key industry players.

For more information, visit pikeresearch.com.

SOURCE: Pike Research



Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015