Global Grid-Scale Battery Market: Key Highlights
Global Grid-Scale Battery Market: Key Market Dynamics
Global Grid-Scale Battery Market: Regional Overview
Since 2003, grid-scale battery storage systems are operational in the US and was still operating as of 2017. The power capacity installed is doubling every two years since 2011. Most of this installed capacity is covered in the Pennsylvania New Jersey-Maryland interconnection (PJM). In 2016, 197 MW grid-scale battery storage was installed in the US which is considered an all-time high power capacity.
Thus, the remarkable adoption of grid-scale battery storage is expected to boost the market in the region.
Renewable energy consumption share in the Asia Pacific region has reached 18.3 percent of the region’s total final energy consumption in 2014. Investment in the renewable sector in this region touched USD 114.8 billion in 2016. The renewable sources are growing rapidly and attaining robust traction, although they still have to compete with traditional sources. China has more than half of the share in the total investments in renewable energy in the region and is leading globally in the investment in renewables from the past decade.
Thus, increased investment in the renewable energy sector is expected to boost the market in the region.
Global Grid-Scale Battery Market: Key Players Overview
BYD Co Ltd is a China-based manufacturing company that manufactures automobiles, battery-powered bicycles, buses, solar panels, rechargeable batteries, etc. The company provides a large scale energy storage system, distributed energy storage systems, and micro-grid systems. The battery produced by the company provides highly efficient output with safety. Also, there is an intelligent battery management system designed especially for BYD battery gives smart control and protection to the system
GS Yuasa Corporation is a Japan-based which manufactures and supplies batteries, power supply system’s lighting equipment, and other specialties electrical equipment. GS Yuasa Corp. manufactures lithium-ion for the applications where high energy density and better power handling is required. These batteries have superior cycle life, low self-discharge, highly reliable, have integrated monitoring and balancing system.
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