Navigant: Worldwide revenue from energy storage tech to reach nearly $75B by 2024

By: InnovatioNews Friday July 17, 2015 0 comments Tags: Boulder, Navigant Research, Anissa Dehamna, energy storage

 

BOULDER -- Worldwide revenue from energy storage-enabling technologies (ESET) is expected to reach nearly $75 billion from this year to 2024, according to a new report from Navigant ResearchNavigant_logoUSE.

The three main components of the ESET value chain are hardware, software and services.

“The grid-tied energy storage market is poised to take off, however pricing remains inconsistent and economies of scale have yet to translate into accessible system costs for the end user,” said Annisa Dhamna, Navigant’s principal research analyst.

“ESS’s (energy storage systems) consist of a core storage technology as well as power conversion systems, software and controls and – in addition to the hardware and software in an ESS – systems integration expertise is required to deliver a fully intelligent, bankable system to the customer.” 

Systems integration services are expected to be the highest value piece of the ESET market, according to the report.

An executive summary of the report, “Energy Storage Enabling Technologies,” is available for free download on the Navigant Research website.

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