Navigant Research: ESET revenue to total nearly $75B from 2015 to 2024

 Navigant Research: ESET revenue to total nearly $75B from 2015 to 2024

Navigant Research announced today that revenues from energy storage enabling technologies (ESET) will total nearly $75 billion between 2015 and 2024. The global forecast comes as part of Navigant’s recent report, Energy Storage Enabling Technologies, which analyzes market potential for ESET across four distinct market segments including utility-scale storage, community storage, residential storage, and commercial storage.
The ESET value chain is divided into three main components—hardware, software, and services—which together ensure the intelligence, durability, and profitability of energy storage systems (ESS). The report contends that the ESET portion of energy storage costs will come under increased pressure to deliver consistent pricing, especially now that battery prices have responded to cost pressures in the industry.
“The grid-tied energy storage market is poised to take off, however, pricing remains inconsistent and economies of scale have yet to translate into accessible system costs for the end user,” says Anissa Dehamna, principal research analyst with Navigant Research. “ESSs consist of a core storage technology as well as power conversion systems, software, and controls, and in addition to the hardware and software in an ESS, systems integration expertise is required to deliver a fully intelligent, bankable system to the customer.”
Systems integration services are expected to be the highest value piece of the ESET market according to the report. Since this segment requires labor, labor prices are expected to buoy this portion of the market, and it is expected systems integration services will become more sophisticated as the market grows and customers become more perceptive, expecting more functionality from ESS.
The report further examines global markets for power conversion systems, energy storage software and controls, and system integration services as segmented by technology, application, and region.
To read the full report, click here.

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