Lithium-ion Technology Tops World’s Energy Storage Market

According to recent reports by Navigant Research, Lithium-ion battery technology remains the leading energy storage battery technology for new projects initiated globally within the third quarter of 2016, with the exemption of pumped hydro storage.

Lithium-ion batteries made up 83 per cent of all newly announced Energy Storage Systems (ESS) capacity during the Q3.

Additionally, distributed energy storage systems (DESS) represented about 14.2 per cent of all new storage system capacity announced this year, and this is notably the highest percentage of any year ever recorded, says Navigant.

DESSs consist of systems fitted behind-the-meter at consumer facilities and are generally below 50kW capacity; as well as community systems mounted on the utility side of the meter. Community ESS is often below 100 kW in capacity.

North America currently has the largest market share for newly announced ESSs. Approximately 1,997.3 MW of new projects have so far been announced this year, with about 15.8% coming from North America.

energy storage

The research firm also noted growth in announced projects that now integrate flow batteries with hybrid battery systems using a winning combination of energy storage technologies.

“Overall, the global energy storage industry is poised to continue to grow quickly over the next several years,” says Navigant. ” With emerging infrastructure becoming increasingly integrated, dynamic, and complex, flexible resources like storage will provide added value to existing and new power-generating assets.”

More details of the Navigant Research’s Energy Storage Tracker 3Q16 report can be viewed here.

Lithium-ion battery technology is also becoming dominant in the Australian home energy storage market; with solutions such as Tesla Powerwall, Enphase AC Battery, sonnen battery systems and Fronius Solar Battery all innovatively built on the chemistry.

Following recent news and closer home, Dr. Alan Finkel, Australia’s Chief Scientist predicts a bright future for energy storage for utility and residential markets in Australia.

“It’s one of the big opportunities I see on the horizon for Australia; and one of the questions that the NEM review will have to consider,”he stated in his delivery of the annual Zunz Lecture at the Sydney Powerhouse Museum.

“We have millions of consumers who leapt at the potential of rooftop solar, and are keenly interested in batteries as well.”

Image: http://www.energymatters.com.au/wp-content/uploads/2016/11/energy-storage-capacity.png

The Author

Hi, my name is Erin and I am a journalist, content creator and editor working within the Public Relations department at Australian Solar Quotes. I am passionate about the continuously developing renewable energy industry. I am eager to educate others about the benefits and advancements of sustainable living, and I encourage you to join the conversation by leaving a comment below.

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