Thursday March 24, 2016 0 comments
BOULDER -- Annual revenue for the commercial and industrial (C&I) energy storage industry is projected to grow from $968.4 million this year to $10.8 billion by 2025, according to a new report from Navigant Research.
The report said the landscape of vendors offering C&I energy storage systems (ESSs) is growing increasingly diverse and competitive, with vendors approaching the market from different angles and forming partnerships to help companies leverage their strengths.
Incumbent building energy management providers are also competing with startups in this market to offer compelling solutions for various customers.
“Despite early challenges, global C&I ESS power capacity deployments are expected to grow from 499.4 MW in 2016 to 9.1 GW in 2025,” said Alex Eller, Navigant research analyst.
“The industrial building segment is expected to be the largest, deploying an estimated 9.3 GW of cumulative new capacity over the coming decade, followed by the office and education building segments.”
Despite substantial market growth and momentum in the past two years, the C&I energy storage market remains in its infancy throughout most of the world, according to the report. Ongoing challenges include poor understanding and undervaluation by stakeholders; however, regulatory reforms and technological advances are expected to help bring C&I energy storage into the mainstream.
The report, Market Data: Commercial & Industrial Energy Storage, analyzes the global market for C&I energy storage, with a focus on advanced lead-acid, flow, and lithium ion (Li-ion) batteries. The study provides an overview of the market developments, technology trends, and business models that are converging to drive significant growth in this space during the next 10 years.
A particular emphasis is placed on the energy storage issues that vendors must consider for the nine unique building types covered in this report. Global market forecasts for capacity and revenue, segmented by building type, technology, and region, extend through 2025.
A free executive summary of the report is available for download on the Navigant Research website.