Utilities in North America, Europe, and Asia Pacific Have Emerged as the Top Global Consumers of Energy Storage
A recent report from Navigant Research provides an overview of issues facing utilities as they seek to integrate energy storage, including strategies and examples from countries around the world. Utilities represent one of the most important drivers for enabling energy storage to scale globally due to buying power and other factors, making continued innovation important. Three regions are driving market development via large- and small-scale systems. Click to tweet: According to a recent report from @NavigantRSRCH, utilities in North America, Europe, and Asia Pacific have emerged as the top global consumers of energy storage.
“Utilities around the world are exploring different approaches to working with energy storage technologies, which are complex and can present risks,” says Anissa Dehamna, principal research analyst with Navigant Research. “These challenges, however, are driving innovation in the industry, particularly around energy storage systems (ESSs).” Cost-effective advanced energy storage technologies are providing utilities and grid operators with new tools to improve system reliability and lower costs. According to the report, in 2014 and 2015, utilities worldwide deployed roughly 124.3 MW of energy storage, accounting for about 23 percent of all systems deployed during that time period.
The report, Utility Energy Storage Strategies, provides an overview of issues facing utilities as they seek to integrate energy storage and the approaches being taken. The study examines the major approaches utilities are using with energy storage, including the investment, virtual power plant (VPP), and product strategies. Specific attention is given to the risks associated with each strategy being explored by utilities. Examples from around the world detail the various approaches being employed to work with the dynamic and valuable new technologies associated with energy storage. An Executive Summary of the report is available for free download on the Navigant Research website.
