Grid-Scale Electricity Storage

Technologies: Global Markets

Jan 2016 • EGY142A

Use this report to:

● Assess market potential for GSBS technologies over a ten-year period from 2015 through
2025.
● Receive information about the regional characteristics of the grid-scale battery storage
(GSBS) market.
● Analyze existing GSBS technologies and promising emerging battery technologies and
applications that are under development.
● Gain insight into the regulatory aspects of the GSBS market.

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 Highlights
● The global market for grid-scale battery storage (GSBS) technologies reached $637 million in
2014. This market is projected to reach nearly $4.0 billion in 2025 from $716 million in 2015
at a compound annual growth rate of 18.7% for the period 2015-2025.
● Lithium-ion battery storage technology will grow from $257 million in 2015 to nearly $1.9
billion in 2025 at a CAGR of 21.9% for the period 2015-2025.
● Flow batteries storage technology will grow from $115 million in 2015 to $773 million in 2025
at a CAGR of 21.0% for the period 2015-2025.

SUMMARY FIGURE
GLOBAL MARKET FOR GRID-SCALE BATTERY STORAGE TECHNOLOGIES, 2014-2025
($ MILLIONS)

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Source: BCC Research

Introduction & Scope

INTRODUCTION

STUDY GOALS AND OBJECTIVES

BCC Research’s goal in conducting this study was to assess and describe the current
status and assess the potential growth of the worldwide grid-scale battery storage
(GSBS) technology industry and the market for associated storage technologies. More
specifically, the study included the following objectives: (1) summarize existing GSBS
technologies and promising emerging battery technologies and applications that are
under development; (2) evaluate the existing GSBS technology industry, focusing on
the manufacturers and providers of major components for viable storage technologies;
and (3) assess market potential for GSBS technologies over a five-year period from
2015 through 2020.
To place an order for
Grid-Scale Electricity REASONS FOR COMPLETING THIS STUDY
Storage Technologies:
Global Markets With the exception of the recent period immediately following the global economic
call (+1) 781-489-7301 turndown, global demand for electricity is expected to continue to increase through at
least the next two decades. However, much of the world’s electricity generation
January 2016 industry is in the midst of a turning point. In support of carbon dioxide (CO2) emissions
reduction regulations and industry trends, the electricity generation sector is in the
Report ID: EGY142A
process of transitioning generally away from coal- and oil-fired electricity production,
and toward the installation of increasing proportions of renewables. However, many
 renewable energy resources are intermittent in nature: Solar cells only generate
electricity when the sun is shining, and wind turbines only generate power when
sufficient wind is blowing. To meet consumer electricity demand, which is often not
aligned with available renewable power production capacity, very large-scale energy
storage technologies are needed.

The purpose of this report is to provide a regional assessment of the GSBS market
potential, as well as existing and projected future market sizes. This is an important
scope because GSBS markets vary substantially based on regional characteristics and
on the technology in question. Grid-scale battery technologies have been in existence
for many decades but are only now coming into prominence as a major energy storage
technology due to the increasing renewable energy generation sources. GSBS is
considered in this report, as battery technologies are coming of age and are capable of
storing sufficient energy to be relevant at the utility scale—with hundreds of
megawatts (MWs) of generation capacity. Grid-scale battery technologies come in
many different electrochemical formulae combinations. Within this context, this report
identifies the basis and installation/market potential for GSBS demand in each global
region, within the 2015 to 2025 timeframe.

INTENDED AUDIENCE

This study reviews GSBS technologies, along with relevant market and production
information, technological descriptions and issues, applications, and market factors
and potential, and gives an overview of supporting incentives and regulations in major
worldwide markets. This study will be of interest to current and potential
manufacturers and suppliers of GSBS technologies and components, as well as venture
capitalists, entrepreneurs and entrepreneurial companies interested in entering or
expanding into the GSBS technology sector. It will also be of interest to corporate
planners and strategists, companies involved in the production of batteries,
supervisory control and data acquisition (SCADA) control software, and other
infrastructure and software required for the implementation of GSBS technologies, as
well as other energy efficiency advocacy groups and other public- and private-sector
interest groups and market analysts.

SCOPE OF REPORT AND METHODOLOGY

The scope of this investigation includes the major viable GSBS technologies that are
currently being implemented in the power generation industry. These technologies are
implemented to temporarily store electricity during periods of available generation
capacity, for subsequent use during periods of increased demand in support of load
leveling, grid balancing, and renewable energy integration and intermittent generation
balancing. The grid-scale battery storage technologies discussed in this report are
increasingly deployed in support of intermittent renewable energy sources, such as
solar and wind energy, which frequently generate power outside of peak demand
periods. In these cases, GSBS technologies can facilitate delivery of renewable power
to end users during periods of high and peak use, in support of utility-level regulations
and greenhouse gas (GHG) emissions reduction strategies, which are increasingly
common in the global electricity market.

The market analysis provided in this report is based on a variety of data sources. These
include the most recent government, industry and academic data regarding the
projected level of demand for utility-scale electricity storage technologies that could
potentially translate into grid-scale battery storage (GSBS) projects. These data were
To place an order for supplemented with an evaluation of major utility electricity storage (UES) and
Grid-Scale Electricity renewable (solar and wind) projects that have been announced or that are currently
Storage Technologies: being proposed. Therefore, this report provides a comprehensive review of available
Global Markets data to provide a realistic, robust and accurate assessment of this quickly changing
market.
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BCC Research analyzes each major viable grid-scale battery storage technologies,
January 2016 determines their current market status, examines their impact on future markets and
Report ID: EGY142A presents forecasts of growth over the next ten years. Technological issues, including
the latest trends, are assessed and discussed, as are the current and likely regulatory
environments in support of this industry.
 BCC Research analyzes the industry on a worldwide basis in terms of its manufacturing
and the deployment of its technologies or products. BCC Research examines
government roles in support of grid-scale battery storage (GSBS) technologies
worldwide, including regulatory support, government requirements and promotional
incentives for various GSBS technologies as relevant and available. BCC Research
provides a review of the most relevant GSBS technologies, discusses recent trends in
capacity installation and unit sales, and provides industry overviews and market
assessments for each GSBS technology.

WORLDWIDE MARKETS

The following list indicates the major worldwide market regional groups that were
assessed in support of this study.

● North America: United States, Canada, Mexico.

● Europe: All European nations except Iceland, including the portion of Russia located
west of the Ural Mountains.
● Asia-Pacific: All Asia-Pacific countries. The Philippines were considered, but other
South Pacific islands are not included. However, many Asian countries do not have
significant installed UES capacities.
● Rest of the World: All Latin American, Middle East and African Countries.

Throughout the world, the different regions vary considerably in size and projected
growth rates.

METHODOLOGY

Both primary and secondary research methodologies were used in preparing this study.
Background information, including reviews of each GSBS technology and its
implementation status, were collected from government and industry sources. Specific
citations and references are provided as needed to support this study, and website
links to government and industry studies, white papers, and other relevant information
are provided as relevant and available.

BCC Research’s research of present and historic market trends was conducted
primarily via phone interviews and Internet research, relying on personal interviews
and available governmental data. Provided internal company data and annual
documentation of sales relevant to each GSBS technology were also reviewed in order
to prepare market assessments. Based on the results of our surveys and research, BCC
Research analyzed the potential applications for each technology, and forecast
remaining 2015 sales and sales through 2020.

Market sizes and installed capacity figures were calculated based upon data obtained
from surveyed parties, as well as published government and industry data sources.
Additionally, when available, the data provided in this report were compared with other
industry data to ensure relevance, applicability and accuracy.

This report has been compiled by accessing a combination of primary and secondary
sources. The following sections were compiled from primary source;

● Industry structure and market overview – analyzed from industry interviews, industry
and government data.

To place an order for

Grid-Scale Electricity ● Major companies and company profiles - analyzed from industry interviews, published
Storage Technologies: financial and trade information.
Global Markets
call (+1) 781-489-7301 ● Market assessment and projections - analyzed from industry interviews, industry and
government documents and data, BCC Research calculations.
January 2016
Report ID: EGY142A
● Regulatory support for GSBS - analyzed from government documents.
 The following sections of the report were analyzed from secondary data sources:

● Review of GSBS technologies and products - analyzed from scientific, government

and industry research.

INFORMATION SOURCES

Both primary and secondary research methods were used in preparing this report. BCC
Research surveyed more than 64 companies and industry insiders to obtain the data
for this study. Included were manufacturers of GSBS technologies, distributors of GSBS
technologies, engineering firms involved in the GSBS industry, emerging technology
developers, and current and former GSBS project developers, worldwide. Additionally,
BCC Research compiled data from current financial and trade information, industry
associations, and government sources.

ANALYST’S CREDENTIALS

Christopher Maara holds a master’s degree in finance and development from University
of London’s School of Oriental and African Studies (SOAS),and has been a country risk
and energy markets analyst with London-based Business Monitor International (BMI)
and Visiongain Limited. He also worked on several small-scale, mini-hydro projects in
Kenya and has been involved in the design and installation of pico and mini-hydro
turbines.

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DISCLAIMER

The information developed in this report is intended to be as reliable as possible at the

time of publication and is of a professional nature. This information does not constitute
managerial, legal or accounting advice, nor should it be considered as a corporate
policy guide, laboratory manual or an endorsement of any product, as much of the
information is speculative in nature. BCC Research and the author assume no
responsibility for any loss or damage that might result from reliance on the reported
information or from its use.

To place an order for

Grid-Scale Electricity
Storage Technologies:
Global Markets
call (+1) 781-489-7301

January 2016
Report ID: EGY142A
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To place an order for

Grid-Scale Electricity
Storage Technologies:
Global Markets
call (+1) 781-489-7301

January 2016
Report ID: EGY142A