Business Insights: Demand for power storage to grow - New technologies to meet need?

Increasing power demand and a move to renewables will lead to exponential growth in the market for efficient power storage technologies, finds independent market analyst, Business Insights.

Up to 205GW of additional power storage capacity will be required by 2050, according to Business Insights. This will be mainly due to growing intermittencies caused by the rising reliance on renewables as countries’ aspire to achieve power security and reduce carbon emissions.

Paul Marshall, senior energy analyst at Business Insights, comments: “High growth in renewables will result in rapid growth in the demand for power storage due to more frequent fluctuations in power generation. As a result, new and better power storage technologies are being developed to achieve greater efficiency and enhance load balancing.”

Various new technologies are being developed to identify the best match for each type of utility-scale power storage application, including power quality management, load shifting, power bridging, and bulk power management. New power storage technologies are either in the conceptual or experimental stage, and aim to attract investors’ interest by proving practical and feasibility.

Paul adds: “In addition, there is another set of technologies, which may not precisely qualify as power storage technology as they do not use power to store energy. However, these technologies, commonly known as ‘energy storage technologies’, will likely play a vital role in renewables integration through energy storage and will offer similar benefits to that of power storage technologies.”

Business Insights has identified three technologies it believes will gain prominence in the future:

• Conductive textile batteries and capacitors

Conductive textile, also know as e-textile, is a nanotechnology which is being developed to manufacture rechargeable batteries and super-capacitors. Although conductive textiles are mainly in the conceptual and experimental stage, the technology may offer drastic changes in the area of portable power storage in the near future.

• Piezoelectric devices

Piezoelectric devices are upcoming power storage devices that use mechanical impact energy from ambient vibrations to store power. Piezoelectric device uses piezoelectric materials, which can be natural or fabricated.. While the technology is currently far from commercialization, the potential is considered promising by many of the developers of piezoelectric devices.

• Molten salt storage

Molten salt storage is mainly a thermal storage technology used to counter the intermittency of concentrated solar power plants. Molten salt is high-temperature melted salt, which has very good heat transfer and retention characteristics. The first large-scale commercial molten salt-based heat storage system has been deployed in Spain. The heat storage system uses 28,500 tons of molten salt, enabling the plant to store thermal energy for approximately seven hours.

“Of the 3 upcoming and energy storage technologies noted, only molten salt storage will have large scale use in power generation. Molten salt storage is used in concentrating solar power, and has had success in very recent years - and is likely to take off in a big way. Conductive textile batteries and capacitors are experimental and only likely to be of consumer use. Piezoelectric devices at this stage are only experimental“ concludes Paul.

Business Insights: The Power Storage Technologies Market Outlook:
http://www.reports-research.com/market-surveys/power-storage-technologies-market-outlook-p-138881.html

Business Insights: Further Market Data and Market Reports:
http://www.reports-research.com/market-surveys/business-insights-m-35.html

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