A microgrid is a small group of power generation assets and energy storage equipment, generating power independently in order to meet local energy needs. A microgrid has the capability to island itself and is connected to the main grid at a single point. An energy storage system is a technology used to store the surplus power that can be supplied later when required. Energy storage systems play a diverse role in microgrids. When renewables are used in the microgrid they serve as a voltage source, smoothing the intermittent power flow. For utilities, it helps in peak hour shaving, volt ampere reactive (VAR) services, and black start.
Technavio’s analysts forecast the global energy storage market for microgrids to grow at a CAGR of 16.72% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global energy storage market for microgrids for 2017-2021. To calculate the market size, the report considers new installations, it includes energy storage systems (battery and fuel cells).
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio’s report, Global Energy Storage Market for Microgrids 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • NEC Energy Solutions • NRG Energy • Saft • Samsung SDI • UniEnergy Technologies
Other prominent vendors • A123 Systems • ABB • ACME • Adara Power • BYD • Daimler • E3/DC • East Penn Manufacturing Company • Enphase Energy • e-On Batteries • Exide Technologies • Fronius International • GESS • Greensmith Energy Management Systems • GS Yuasa International • HOPPECKE Batterien • IBC SOLAR • KOSTAL Solar Electric • KYOCERA Corporation • LG Chem • Nedap • Neovoltaic Energy Nantong • Panasonic • Primus Power • Princeton Power Systems • Redflow • redT • SENEC (Deutsche Energieversorgung) • Sinetech • SMA Solar Technology • sonnen • Sony Energy Devices Corporation • Tesla • The AES Corporation • Trojan Battery Company • VARTA • ViZn Energy Systems • Younicos • ZEN Energy
Market driver • Increasing government support • For a full, detailed list, view our report
Market challenge • High exit and standby costs • For a full, detailed list, view our report
Market trend • Rapid advances in technology • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space?
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