The Energy Storage Council’s inaugural Global Energy Storage Market Overview & Regional Summary Report 2015 identifies major trends in the energy storage sector globally, including the applications, locations and technologies that will experience the greatest growth in the short term.

The report finds that there is a significant shift in this sector underway, as battery storage is increasingly economic in a wide range of applications.

Battery manufacturing costs are falling, (as battery factories scale up for the production of electric vehicles), and have the potential to be a major disruption to the electricity and transportation sectors.

Key factors driving the anticipated rapid growth in this sector include:

• Electric Vehicles (EVs) – subsidies for EVs in China, and a rapidly growing global market is fuelling a massive scaling up of battery technology;

• Cheaper Storage – these economies of scale are leading to rapid decreases in the cost of battery technology in particular, with spin off benefits for other applications; and

• Micro-Grids Becoming Economic – as grid infrastructure costs climb, and areas that do not have grid access are electrified, micro grids supported by distributed energy generation and energy storage are becoming the rational economic choice.

Click here to read the 2015 ESC Global Energy Storage Report.