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HSRCEnergy Storage Technologies & Markets – 2022-2030 – With Corona & COP26 Impacts
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Energy Storage Technologies & Markets - 2022-2030 – With Corona & COP26 Impacts

Bottom-up Research of 311 Submarkets. 2026 Market $125 Billion.  

  • July 2022
  • 326
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Amazon
Sandia National Lab
HITACHI
Thales

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Description

The 326-page Energy Storage Market & Technologies – 2022-2030 – With Corona & COP26 Impacts report is based on bottom-up research of 311 Submarkets of the Energy Storage industry. The report thoroughly analyzes 5 technologies, 5 regional, 5 revenue sources and 60 national Energy Storage related markets. It is an open secret that Energy Storage is a Game Changer in the Electric Industry.

 

To address peak demand, Solar, Wind, and several other electric energy sources require large scale investments in energy storage facilities

Energy Storage Technologies

According to the report: 

  • The 2026 market would reach $125 billion
  • Grid-Scale Battery Storage will dominate the 2024-2030 storage systems market
  • Following Russia’s invasion of Ukraine, governments consider sweeping changes to planning laws and investments to improve their energy security
  • Despite the raw material price rising, battery costs continued to drop. Globally, capacity additions continue to surpass projections with no slowdown in sight. While most of the expansion has been in utility-scale storage projects, residential, microgrids and commercial storage projects continue to grow steadily.
  • The energy storage Industry will achieve by 2030 the following Levelized Cost of Storage (LCOS) targets:
    • A $0.05/KWh LCOS for long-duration stationary applications, a 90% reduction from 2020 baseline costs. Realizing this LCOS would enable commercial feasibility for energy storage, including load supply during peak demand and other applications to ensure energy reliability.
    • An $80/KWh cost of production for a battery pack by 2030 for 500 Km range electric cars, a 43% reduction from the current cost of $140 per KWh. It would lead to cost-competitive electric vehicles and stationary storage applications.
    • A $200/KWh LCOS for Flow batteries – a 45% reduction from the 2020 baseline.
  • The U.S. and China (which emitted 36% of the world’s GHG in 2021) will spend >37% of the global Energy Storage expenditure.
  • In 2021 pumped storage hydropower dominated (>96%) in total megawatts deployed
  • The private sector will finance > 90% of the market.

Key market drivers are:

  • To reach Net-Zero, we must invest in Energy Storage technologies
  • Energy storage is a must-have energy source at times of peak power demand
  • To address the grid peak demand, Solar, Wind, and several other electric energy sources require large scale investments in energy storage facilities
  • The Russian – Ukraine war presents a threat to Europe’s energy security, resulting in accelerated investments in renewable energy and storage projects.
  • Investors’ eagerness for financing the green revolution
  • The multi-trillion USD market offers dozens of business opportunities to the private sector
  • Unprecedented public support (> 60%) drives governments and the private sector to invest in th...
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