Grid-Scale Energy Storage Market to Reach $35 Billion by 2020, According to Pike Research

BOULDER, Colo.--(Business Wire)--
The stationary energy storage sector will play an increasingly larger role in
the electricity grid of the future. Demand is being driven by several key
trends including the proliferation of renewable energy from variable sources
such as wind and solar, the expansion of utility smart grid initiatives, and the
introduction of plug-in hybrid and electric vehicles. According to a new report
from Pike Research, worldwide installed system revenues will grow at a strong
pace in the coming decade, increasing from $1.5 billion in 2010 to $35.3 billion
annually by 2020.

"Energy storage on the grid addresses several pressing market needs," says
senior analyst David Link. "Today, applications for energy storage include load
following, renewable energy grid integration, and renewable energy time
shifting. In the coming years, the number of applications for energy storage on
the grid will expand to include the opportunity for utilities to defer
transmission and distribution (T&D) capital upgrades, time of use energy cost
management for the commercial and industrial (C&I) segments, and conventional
energy time shifting."

Link adds that several key technologies are emerging to address the need for
long-duration energy storage. Traditional options include pumped hydroelectric
storage, compressed air energy storage (CAES), and sodium sulfur (NAS)
batteries. Other more nascent energy storage technologies are lithium ion
(Li-ion) batteries and flow batteries. While there is room for a variety of
technologies, Pike Research forecasts the most significant growth opportunities
for CAES, Li-ion batteries, and flow batteries.

Pike Research`s report, "Energy Storage on the Grid", provides a detailed
examination of the applications that will drive energy storage adoption between
now and 2020, as well as the technologies that will enable them. It examines the
business models, policy and regulatory factors, technology issues, and
underlying economics that will define the rapidly expanding energy storage
market. The report includes profiles and SWOT analysis for 30 key industry
players, as well as global market forecasts, segmented by world region and
technology, for the period from 2010 to 2020. An Executive Summary of the report
is available for free download on the firm`s website.

Pike Research is a market research and consulting firm that provides in-depth
analysis of global clean technology markets. The company`s research methodology
combines supply-side industry analysis, end-user primary research and demand
assessment, and deep examination of technology trends to provide a comprehensive
view of the Smart Energy, Clean Transportation, Clean Industry, and Building
Efficiency sectors. For more information, visit www.pikeresearch.com or call
+1.303.997.4619.

Pike Research
Phil von Hake, +1-303-997-4619
press@pikeresearch.com

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