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Global Cumulative Stationary BESS Capacity to Exceed 2 TWh by 2033, Says IDTechEx


News provided by

IDTechEx

06 Dec, 2022, 13:17 GMT

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BOSTON, Dec. 6, 2022 /PRNewswire/ -- Battery demand for stationary energy storage is set to grow in line with an increasing number of renewable energy resources being added to electricity grids globally, alongside pressure from governments and states to reach targets pertaining to renewable energy generation and energy storage. Over the past decade, Li-ion batteries have become an increasingly important stationary energy storage technology. They now account for >90% of global installations of electrochemical energy storage.

IDTechEx predicts that by 2033, global cumulative stationary battery storage capacity is set to exceed 2 TWh.

Various factors are driving the Battery Energy Storage System (BESS) market. Firstly, the necessity for higher levels of renewable energy integration into electricity grids will require higher volumes of BESS to help stabilize electricity grids while providing energy security and supply. As well as this, energy and battery storage targets and clear policy frameworks are helping to expedite BESS deployments in the regions where these drivers have been announced. This is apparent in countries such as the US, China, and Australia.

The US and China will be responsible for most of the global cumulative Battery Energy Storage Systems (BESS) capacity in 2033 while rivaling each other for total deployments. Without question, these countries' storage targets, clear market regulations, and profitable business models play a key role in the volume of successful project installations, especially on the front-of-the-meter FTM side.

Annual front-of-the-meter (FTM) installations will take a larger share of global annual Battery Energy Storage System (BESS) installations, by GWh, than behind-the-meter (BTM) installations in the next decade. Moreover, the means for these large battery systems to produce revenues for their owners are becoming more apparent through mechanisms such as revenue stacking. As business models continue to mature, investor confidence in large BESS profitability will grow, thus facilitating reduced future project costs and increased installation volumes.

In the latest version of their market report, "Batteries for Stationary Energy Storage 2023-2033", IDTechEx brings the reader a holistic and thorough view of the stationary battery storage market. The update to this report brings the latest developments across the industry, including a comprehensive overview of the following: market forecasts, key player analysis, technology trends and applications, business models giving rise to revenue streams, and regional analysis for the top installing countries.

"Batteries for Stationary Energy Storage 2023-2033" includes the following information:

Technology trends:

-  Drivers for Li-ion deployment growth

-  Comparisons of other relevant stationary storage technologies, e.g., redox flow batteries, hydrogen fuel cells, etc.

Value chain analysis:

-  Explanations of battery storage services for in front-of-the-meter (FTM) and behind the meter (BTM) markets

-  An overview of BESS applications in residential, commercial & industrial (C&I), and utility/grid-scale settings

-  A holistic view, with depictions and explanations, of the various electricity markets that battery storage assets can operate in across all market sectors

-  Revenue generation mechanisms

-  Overview of key players in both residential and larger-scale battery (C&I / grid/utility) markets

-  Company market shares, region-specific supply chain developments

-  The latest residential storage market trends, market size ($US), key players with revenues data, and company/technical product SWOT analyses

-  New primary information from key company interviews. The first company interviewed is BSL Battery, which operates in China and develops and sells batteries in the solar/residential and low-speed vehicle markets. The second company interviewed are E3/DC GmbH, who operate in Germany, develop, and sell battery systems into the residential market, and are planning to expand into the Vehicle-to-X (V2X) market. The E3/DC interviewee was a Director for their Battery Business and provided key insights into residential market trends

Market forecasts & regional analysis:

-  Granular ten-year market forecasts for installations of FTM & BTM Battery Energy Storage Systems (ESS) (in annual MWh, GWh, TWh installed)

-  The seven most active countries have 2023 - 2033 forecasts with annual MWh installed for residential / C&I / grid-scale splits, with FTM / BTM splits otherwise

-  Detailed discussion and in-depth analysis on regional regulation developments, renewable generation, energy and battery storage targets, key player activity and major project installations, government- and state-level announcements, and future project pipelines

To find out more about the IDTechEx report "Batteries for Stationary Energy Storage 2023-2033", including downloadable sample pages, please visit www.IDTechEx.com/SES.

About IDTechEx

IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact research@IDTechEx.com or visit www.IDTechEx.com.

Images Download: 
https://www.dropbox.com/scl/fo/zhjof9w7mespjz7l9z12k/h?dl=0&rlkey=r5onytptzkj92gh5k9urnf5yp

Media Contact:

Lucy Rogers
Sales and Marketing Administrator  
press@IDTechEx.com 
+44(0)1223 812300

Social Media Links:

Twitter: www.twitter.com/IDTechEx  
LinkedIn: www.linkedin.com/company/IDTechEx  
Facebook: www.facebook.com/IDTechExResearch

Photo: https://mma.prnewswire.com/media/1962419/IDTechEx_Lithium_ion.jpg
Logo: https://mma.prnewswire.com/media/478371/IDTechEx_Logo.jpg

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