Global Alternative Electrical Power Storage Market to Reach $423 million by 2016
Utility-scale power generation has moved beyond the tried and true coal-fired, oil-burning, natural gas, nuclear, and hydroelectric stage. Significant amounts of electric power are generated using generally smaller “alternative” sources like wind, solar, tidal, and geothermal. As these smaller power generation approaches proliferate, the problem of off-peak generation becomes important. What to do at night, or when the wind doesn’t blow, or when it blows too hard? Power system designers must begin to investigate ways to store alternative power so that it can be used when needed.
With this in mind, this report measures and examines the emerging market for utility-scale “alternative electric power storage,” including the use of batteries, fuel cells, capacitive storage, and flywheel energy storage. These storage approaches can be deployed using stationary facilities, mobile arrays, and increasingly, smart grids that can combine a variety of approaches (including banks of parked electric vehicles).
This report also can provide valuable information in terms of assessing investment in specific technologies and, therefore, should benefit investors directly or indirectly. Others may find the broad discussions of energy policy and environmental impact to be of considerable value in understanding the opportunities and problems in the near- to mid-term.
This report is intended to provide a unique analysis of the alternative electrical power storage market and will be of interest to a variety of current and potential alternative energy makers, users, and integrators as well as battery, fuel cell, capacitive energy storage and flywheel energy storage system makers and component makers.
As defined by this report, “alternative electrical power storage” includes approaches that use primarily electric and high speed kinetic approaches as opposed to larger scale kinetic approaches like pumped hydro and compressed air.
Batteries (including lead-acid, nickel-based, lithium-based, sodium-sulfur, and redox flow systems)
Fuel cells, which can be powered by hydrogen generated by excess capacity
Flywheel energy storage, which stores excess energy in a high speed rotating kinetic battery
Capacitive energy storage, which uses an electronic rather than an electrochemical approach to storing electrical energy.
As defined by this report, “alternative electrical power storage” refers primarily to power generated by means other than coal, oil, natural gas, nuclear, and hydroelectric (wind, solar, geothermal, and tidal/wave). However, the alternative market is discussed in relation to this established “conventional” market. It should also be noted that many of the energy storage technologies discussed in this report can also be used during conventional power generation for peak shifting.
This report discusses the North American, European, Far Eastern, and Rest-of-World market in terms of units, value, and megawatt capacity. A target market based on optimistic, pessimistic, and consensus alternative energy adoption and power storage potential is provided. This is compared to the conventional power generation target and peak shifting opportunities. The current market is small, mainly limited to pilot projects. By 2016, these pilots will be expanding into commercial implementations. This 2016 market is also characterized in terms of optimistic, pessimistic, and consensus scenarios. Finally, long-term markets prospects (beyond 2021) are discussed in more general terms.
Major utility-scale alternative electrical power companies are listed and characterized, and energy storage systems companies and integrators are profiled in detail. Note that there is a significant distinction between the term “alternative power” and the more commonly-used term “renewable energy.”
“Alternative” power is generated using processes beyond commonly-used coal, oil, natural gas, nuclear, and hydropower. “Renewable” energy is generated using processes that do not expend mined or pumped resources -- coal, oil, natural gas, and nuclear. However, in addition to all the alternative fuels, “renewable” also includes hydropower.
The global alternative electrical power storage market in 2011 will be worth more than $325 million, including more than $236 million worth of electrochemical batteries. This market is expected to grow at a compound annual growth rate (CAGR) of 5.4% between 2011 and 2016 under a consensus scenario resulting in a $423 million global market in 2016, including $322 million worth of electrochemical batteries.
Analysts anticipate a $175 million wind power market and a $147 million solar power market in 2011 under a consensus scenario. An optimistic but still possible scenario could see a wind power market worth more than $240 million by 2016, reflecting a 7% compound annual growth rate (CAGR).
In 2011, researchers forecast much larger fuel cell systems will be shipped. This sector is estimated at $25 million in 2011 and is expected to increase at a 12% compound annual growth rate (CAGR) to reach $44 million in 2016.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' web site. View the report: http://www.electronics.ca/publications/products/Electrical-Power-Storage-Technologies-for-Alternative-Energy-Sources.html
Electronics.ca Publications is a world-class research network and publishing company whose focus is technology and market research for the electronics industry. Our network spans dozens of areas of electronics expertise, and taps the knowledge of researchers and analysts internationally. We deliver critical information on the semiconductor, advanced materials, nanotechnology, electronics manufacturing, wireless technology and converging markets.
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