Over the past decade, Li-ion batteries have become an increasingly important stationary energy storage technology. They now account for >90% of global installations of electrochemical energy storage. The main driver for their adoption has been the fast improvement in their performance and reduction in their cost. The adoption of energy storage systems (ESS) is necessary for higher levels of renewable energy penetration and integration. As well as this, energy and battery storage targets and clear policy frameworks are necessary if the number of global battery energy storage system (BESS) deployments is to be expedited. IDTechEx predicts that by 2033, global cumulative stationary battery storage capacity is set to exceed 2 TWh.
Batteries used in the front-of-the-meter (FTM) market can provide a range of utility and ancillary services, giving Transmission System Operators (TSOs) the tools necessary to provide adequate national energy security and supply. Moreover, the means for large battery systems to produce revenues for their owners are becoming more apparent, through means such as revenue stacking. As business models continue to mature, investor confidence in BESS profitability will grow, thus facilitating reduced future project costs and increased installation volumes. Batteries provide value in the behind-the-meter (BTM) market primarily for the customer side. With regions such as Germany phasing out FiT schemes, consumers will take advantage of price arbitrage; using their batteries when grid prices are most expensive at times of peak demand.
This webinar, presented by Conrad Nichols, will draw upon research from IDTechEx's newly updated report "Batteries for Stationary Energy Storage 2023-2033
". This report offers granular 10-year market forecasts, for the annual installations of FTM & BTM BESS (in MWh, GWh, TWh installed). The seven most active countries have 2023 - 2033 forecasts with annual MWh installed for residential / C&I / grid-scale splits, or FTM / BTM splits otherwise.
This webinar will cover:
- Services provided by batteries for stationary energy storage in front-of-the-meter (FTM) and behind-the-meter (BTM) markets
- Business models for battery storage system owners
- Technology and market trends; chemistries, duration of storage, deployment volumes
- Market drivers and barriers; regional renewable energy/storage targets and regulatory hurdles