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Navigant Research says energy storage apps are set for explosive growth

Published 29 September 2016

Energy storage-enabled applications are poised to disrupt energy markets, according to a recent white paper from Navigant Research.

In the next 3-5 years, the storage industry is positioned to truly scale and echo the explosive growth seen in the solar PV industry.

Incremental improvements in energy storage technologies, developments in regional regulatory and market drivers, and emerging business models are poised to make energy storage a growing and viable part of the electricity grid.

Navigant Research principal research analyst Anissa Dehamna said: “New players will be able to offer a suite of solutions that promote connected homes and robust energy options.

“Evolving business models call for utilities to become more agile and not only address the generation, transmission, and distribution of electricity, but also focus more on grid services and develop customer-friendly solutions.”

The distributed energy resources sector on both the utility and customer sides of the meter will continue to create new opportunities for energy storage-enabled applications, according to the report.

IT, telecommunications, and consumer product companies will continue to present a disruptive threat to utilities given their focus to date on energy and smart grid applications and their ability to extract value from data and customer relationships.

The white paper, Five Trends for Energy Storage in 2016 and Beyond, This Navigant Research white paper presents the top five trends for the energy storage industry in 2016 and beyond.

The report examines some of the major market issues driving investment in energy storage around the world and how various stakeholders are adapting to the changing market. Each of the topics in this white paper is examined more deeply in research reports and ongoing research from Navigant Research’s Grid-Tied Energy Storage and Advanced Batteries Research Services.

Source: Company Press Release