A report from Pike Research, a part of Navigant’s Energy Practice, has predicted the market for long-duration or bulk energy, known as energy storage on the grid, will increase rapidly over the next decade, with nearly 56 GW of ESG being installed from 2012 to 2022.
The increase in installed ESG will be caused by rapidly changing energy mixes and increasing volatility in load prices that make it more difficult for grid operators to deliver reliable electricity, according to Pike Research.
“New and emerging energy storage technologies – such as next-generation compressed air energy storage and pumped storage, as well as advanced batteries – are changing the energy storage space with innovations in efficiency, footprint, materials science and system flexibility,” Pike Senior Research Analyst Anissa Dehamna said. “These innovations will help enable grid operators to optimize grid assets, defer transmission and distribution upgrades, and integrate renewable energy sources.”
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