Total Capacity of Commercial Building Energy Storage Systems Will Expand More Than Five-Fold by 2022, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- The market for energy storage in commercial buildings includes one mature segment - energy storage systems for uninterruptible power supply (UPS) systems - as well as two relatively nascent segments: electrical energy storage (EES) systems and thermal energy storage (TES) systems. In certain cities and regions where local utilities and governments allow building owners to monetize the value stream of peak shifting, these technologies are likely to spread rapidly. According to a new report from Pike Research, a part of Navigant's Energy Practice, the total capacity of commercial building energy storage systems will grow from about 900 megawatt-hours (MWh) in 2013 to more than 5,000 MWh in 2022.
"The future growth of TES and EES systems is primarily reliant on expectations of regulatory changes," says senior research analyst Sam Jaffe. "If there is a sea-change in global electricity regulation that enables customers to realize the value of energy storage, then the market is likely to expand rapidly. We expect that some utility regions will alter regulations while others will not, leading to localized hotspots of growth surrounded by deserts of inaction."
Another factor in the growth of commercial energy storage will be reductions in the cost of systems. This will be primarily driven by lower battery costs (spurred more by the transportation market demand for batteries than by the stationary storage market), but also by reductions in the prices of other parts that go into the balance of the system, such as battery management systems (BMSs) and two-way power inverters.
The report, "Energy Storage in Commercial Buildings", analyzes the global market opportunity for commercial building energy storage across all three key segments: UPS energy storage systems, electrical energy storage systems, and thermal energy storage systems. The report provides a comprehensive assessment of the demand drivers, business models, policy factors, and technology issues associated with the dynamic commercial building energy storage space. Key industry players are profiled in depth and worldwide revenue and capacity forecasts, segmented by application and region, extend through 2022. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team'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, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Energy Storage in Commercial Buildings," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
KEYWORDS: United States North America Colorado
The article Total Capacity of Commercial Building Energy Storage Systems Will Expand More Than Five-Fold by 2022, Forecasts Pike Research originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.