More than 11 GW of compressed air energy storage (CAES) capacity will be installed worldwide from 2013 to 2023, according to a new report from Navigant Research.
Growth in the sector will partly be driven by advances in isothermal, or adiabatic, CAES, which can be sited anywhere and conveniently scaled using modular units, according to Navigant.
Traditional underground CAES is one of only two long-duration bulk storage technologies and has been commercially available for more than 30 years, according to Navigant.
While no new CAES plants have been deployed since 1991, project activity and interest in the technology has grown in recent years. Higher-efficiency next-generation CAES technology is also nearing commercialization.
A handful of players are innovating in this space, and their technology will be commercially validated in the next 12 to 36 months, the study concludes.