New Energy Storage Projects Reach 2 GW For 2016 So Far

file

By Editors of Power Engineering

A study by Navigant Research indicates nearly two GW of energy storage systems have been announced worldwide so far this year.

Navigant said new project announcements are coming on a regular basis, and various companies are exploring new ways to make energy storage systems profitable.

Lithium ion batteries remain the top method of energy storage for new projects, accounting of 83 percent of the new capacity through the third quarter of 2016.

Distributed energy storage systems are becoming more popular, as they accounted for 14 percent of new energy storage projects so far.

“DESSs are generally much smaller than utility-scale systems and are expected to thrive as they become more cost-effective and productized, leading to more streamlined installation and opening new markets,” said Ian McClenny, a research associate with Navigant Research.

Projects using flow batteries and hybrid battery systems are also becoming more common. 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...