According to reports, electric energy storage systems are crucial for the further development and transformation of a range of sectors including renewable energy, automotive, grid stabilization, smart grid, back-up power and portable devices. Big scale, reliable and durable electric energy storage technologies will enhance the usage and commercial attractiveness of intermittent renewable energy sources, such as wind and solar power.
Market Penetration and Road mapping research by Frost and Sullivan finds that electric energy storage systems are inscribed in the development strategies of intermittent renewable energy and electric vehicle (EV) developers, grid operators and utility companies.
“The most important drivers for developing electric energy storage systems are grid stability and reliability, mass integration of intermittent renewable energy generators, better use of energy resources, fossil fuels shortage and limiting of greenhouse gases,” said the Research Analyst, Technical Insights Team.
“Electric energy storage technologies will be an inseparable part of smart grids and distributed energy generating systems in the future.” Among the various electric energy storage systems, advanced batteries are set to attract the greatest interest in the near future. This is because of their flexibility in use, allowing for their employment in grid balancing and connecting intermittent renewable energy generators to the main electric grid.
“Frost & Sullivan research reveals that lithium-ion batteries will play the most important role in the future of electric energy storage systems over the next five to seven years,”” said the Analyst. “”EVs will be a key and sizeable application area for this technology.”
Other electric energy storage technologies include flywheels and compressed air energy storage (CAES) systems. Advanced adiabatic CAES systems are anticipated to play an important role in enabling the safe connection of big wind farms to the main electric grid in an economically viable way.