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Lithium-Ion is the Global Leader in the Energy Storage Market

Navigant Research reports that Li-ion battery technology continued to be the leading energy storage technology for new projects announced globally during the 3rd quarter of the year, with the exception of pumped hydro storage as reported by Energy Matters.

Lithium-ion batteries accounted for 83% of newly announced Energy Storage Systems’ capacity during the 3rd quarter. Distributed energy storage systems have represented approximately 14.2% of new system capacity presented this year, which Navigant says is the highest percentage of any year on record.

DESSs include systems located behind-the-meter at customer facilities and are often less than 50kW capacity, as well as community systems located on the utility side of the meter. Community ESS is generally less than 100kW in capacity.

The research company also noted an increase in announced projects incorporating flow batteries and hybrid battery systems using a mix of energy storage technologies. According to Navigant, overall, the global energy storage industry is positioned to continue to grow quickly over the next several years. And with the emerging infrastructure becoming increasingly integrated, complex and dynamic, any flexible sources like storage will give added value to existing and new power-generating assets.

Lithium-ion battery technology also leads in the home energy storage market with products like the Tesla Powerwall, Fronius Solar battery, the Sonnen battery systems and Enphase AC battery.

Australia’s chief scientist, Dr. Alan Finkel sees a bright future for energy storage in Australia for utility and residential markets.

Click here to read the story on Energy Matters

Featured Image Credit: Pete

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