I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-2
Quantitative Techniques & Analytics I-2
Product Definitions and Scope of Study I-3
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW II-1
A Prelude II-1
The Inevitable Shift to Renewable Sources of Energy II-3
Advanced Energy Storage: A Game Changer for Renewable Energy? II-3
Overview of Currently Available Energy Storage Technologies II-4
Energy Storage Technologies: Key Features Comparison for
PHS, CAES, Flywheel, NaS Battery, Li-ion Battery, Flow
Battery, Supercapacitor, SMES, Molten Salt, Hydrogen, and
SNG Technology II-5
Various Energy Storage Technologies: Key Advantages &
Disadvantages II-6
Table 1: World Operational Energy Storage (in GW) by
Technology: 2010, 2012, & 2014E (includes corresponding
Graph/Chart) II-7
Government Intervention Critical to Widespread Adoption II-7
Domestic Targets for Greenhouse Gas Emissions of Select
Regions/Countries II-8
Economic Scenario in the U.S & Europe and Its Impact in the
Recent Past II-8
Fiscal Cliff & Sequestration Cuts in the US Slows Down the
Market in 2012 & 2013 II-8
Impact of the European Debt Crisis on the Energy Storage
Market in 2012 & 2013 II-9
Table 2: European Energy Market by Category (2013):
Percentage Share Breakdown of Energy Production for Crude
Oil, Natural Gas, Nuclear Energy, Renewable Energy, Solid
Fuels, and Others (includes corresponding Graph/Chart) II-9
Table 3: European Renewable Energy Market by Type (2012):
Percentage Share Breakdown of Energy Production for Biomass &
Waste, Geothermal Energy, Hydropower, Solar Energy, and
Wind Energy (includes corresponding Graph/Chart) II-10
Improvement in Global GDP Encourages an Optimistic Outlook for
2014 & Beyond II-10
Table 4: World GDP (2012-2015): Percentage GDP Growth for
Select Countries (includes corresponding Graph/Chart) II-12
Global Outlook II-12
2. MARKET TRENDS, ISSUES & DRIVERS II-14
Increasing Focus on Renewable Energy: A Strong Growth Driver II-14
Leading Wind Power Countries Worldwide (2013): Ranking Based
on Key Wind Power Facts II-15
Opportunity Indicators II-16
Table 5: Global Investments (US$ Billion) in Renewable Energy
by Source: 2013 (includes corresponding Graph/Chart) II-16
Table 6: Global PV Installations by Applications (2014E &
2016F): Percentage Share Breakdown of Capacity Installations
for Commercial, Off-Grid, Residential, and Utility-Scale
(includes corresponding Graph/Chart) II-16
Table 7: International Targets for Solar Photovoltaics for
Select Countries II-17
Table 8: World Installed Base of Wind Energy (in Megawatts)
by Geographic Region: 2013, 2015E & 2017F (includes
corresponding Graph/Chart) II-17
Table 9: Leading Countries in Wind Power Electricity
Production Worldwide (2012): Breakdown of Electricity
Production in TWh (Terawatt-hours) for Top Ten Countries
(includes corresponding Graph/Chart) II-18
Energy Storage Technology Advancements: Spearheading Growth II-19
Rice University Announces Molybdenum Disulfide Breakthrough II-20
Researchers at MIT Upgrade Proposed Liquid Battery System II-20
Alevo Develops Innovative, High-Efficiency Energy Storage System II-21
Nanotechnology: The Future of Energy Storage? II-21
Nanotubular Bulk Material with Ultra-Low Density for Energy
Storage Applications II-21
Compressed Air Energy Storage Systems that Eliminate/Reduce
Use of Fossil Fuels II-22
Affordable Batteries with High Durability and Advanced
Chemical Compositions II-22
Hydrogen Electrolysis: A Potential Laden Energy Storage Solution II-23
Surge in Energy Storage Projects Benefits Demand II-23
Table 10: Number of Energy Storage Projects by Country: 2014
(includes corresponding Graph/Chart) II-24
Table 11: Worldwide Pumped Hydro Energy Storage Projects by
Region and Countries (2012) (includes corresponding
Graph/Chart) II-25
Lithium-ion: The Dominant Energy Storage Battery Technology II-26
Table 12: Global Market for Li-ion Battery by End-Use (2014E &
2019F): Percentage Share Breakdown of Volume Usage for
Automotive, Consumer, Grid/Renewable Energy Storage, and
Industrial Sectors (includes corresponding Graph/Chart) II-26
Table 13: Leading Energy Storage Technologies by Type (2013):
Percentage Share Breakdown of Volume Usage for Battery,
Compressed Air, Flywheel, Pumped Hydro, Thermal Storage, and
Others (includes corresponding Graph/Chart) II-27
Characteristics of Select Battery Technology Types II-28
Manufacturers Gear Up to Expand Production of Batteries II-28
Falling Prices of PV and Li-ion Batteries Bodes Well for the
Market II-29
Plunging Battery Costs Improve Business Case for Energy Storage II-29
Efficient Storage Technologies: Need of the Hour for the
Flourishing Solar Energy Sector II-30
Table 14: Global Solar PV Installations by Region (2013):
Percentage Share Breakdown of Volume Installations for
Americas, Asia (Excluding China), China, Europe, and Rest of
World (includes corresponding Graph/Chart) II-31
Increasing Efforts to Achieve Grid Parity Drives Growth in PV
Storage II-31
Increasing Establishment of Solar Microgrids to Spur Growth II-31
Aquion Energy Develops New Battery for Microgrids II-32
Growing Deployment of Smart Grids to Drive Demand II-32
Opportunity Indicators II-33
Table 15: World Market for Smart Grid Technologies (2012):
Breakdown of Revenues in US$ Million by Geographic Region
(includes corresponding Graph/Chart) II-33
Ultracapacitor Grid Storage Rises in Popularity & Storage
Potential II-34
Table 16: World Market for Ultracapacitors (2015F): Breakdown
of Revenues in US$ Million by Geographic Region (includes
corresponding Graph/Chart) II-34
Large Fuel Cells for On-Grid Applications Fuel Growth in the
Market II-35
Table 17: World Market for Fuel Cells by Type (2013):
Percentage Breakdown of Dollar Sales for Alkaline, Molten
Carbonate, Proton Exchange Membrane, Phosphoric Acid, Solid
Oxide, and Other Fuel Cells (includes corresponding
Graph/Chart) II-35
Increasing Demand for Electric/Hybrid Cars Boosts Grid
Integration of Renewable Energy II-36
Table 18: World Market for Electric Vehicles (2013):
Percentage Breakdown of Unit Sales by Product Type (includes
corresponding Graph/Chart) II-37
Asia-Pacific Leads the Global Advanced Energy Storage Market II-37
Table 19: World Electricity Accessibility by Country (2013):
Percentage of Population with Access to Electricity for
Argentina, Bangladesh, Bahrain, Bolivia, Brazil, Brunei ,
China, Cambodia, Egypt, Ecuador, Iran , Iraq, India,
Indonesia, Jordon, Kenya, Libya, Myanmar, Sri Lanka,
Malaysia, Nigeria, Oman, Pakistan, Philippines, Qatar, Saudi
Arabia, South Africa, Venezuela, and Vietnam (includes
corresponding Graph/Chart) II-38
Asia-Pacific: Largest Producer of Lithium-ion Batteries II-39
Favorable Demographic and Economic Factors Strengthens Market
Prospects II-39
Robust Electric Power Consumption Drives the Need for
Alternative Energy Sources and Storage II-39
Table 20: Global Energy Consumption by Sector (2013)
(includes corresponding Graph/Chart) II-40
Table 21: Global Electricity Consumption by Country (2013):
Percentage Breakdown for China, United States, Japan,
Russia, India, Germany, Canada, Brazil, South Korea, France,
and Others (includes corresponding Graph/Chart) II-40
Table 22: World's Most Populous Cities: Percentage Breakdown
by Total Urban Population for Tokyo, Delhi, Mexico City, New
York, Shanghai and Others (includes corresponding
Graph/Chart) II-41
Burgeoning Global Population Propels Demand for Electric
Power and Energy Storage II-41
Table 23: Global Population Estimates (2000-2050) (includes
corresponding Graph/Chart) II-41
Table 24: Estimated Global Demand for Primary Energy and
Electricity for the Years 2015-2035 (includes corresponding
Graph/Chart) II-42
3. PRODUCT OVERVIEW II-43
Advanced Energy Storage: Definition II-43
Types of Renewable Energy Storage Technologies II-43
Short-Term Renewable Energy Storage Technologies II-43
Supercapacitor Energy Storage II-43
Flywheel Energy Storage II-44
Superconducting Magnetic Energy Storage II-44
Long-Term Renewable Energy Storage Technologies II-44
Pumped Hydroelectric Energy Storage II-44
Compressed Air Energy Storage II-44
Battery Energy Storage II-45
Hydrogen Energy Storage II-45
SWOT Analysis of Different Long-Term Renewable Energy Storage
Technologies II-46
Significance of Renewable Energy Storage II-46
Minimizing Energy Costs II-46
Ensuring Reliable Supply of Energy II-46
Increasing Energy Autonomy II-47
Renewable Energy: A Primer II-47
An Introduction II-47
Renewable Energy: A Definition II-47
Benefits of Renewable Energy II-47
Environmental Benefits II-47
Economic Benefits II-48
Energy Security II-48
Sources of Renewable Energy II-48
Solar Energy II-48
Power Tower Systems II-48
Parabolic-Trough Systems II-49
Dish/Engine Systems II-49
Wind Energy II-49
Geothermal Energy II-49
Binary Cycle Power Plants II-49
Flash Steam Power Plants II-49
Dry Steam Power Plants II-50
Hydroelectric Power II-50
Bioenergy II-50
Hydrogen and Fuel Cells II-50
Ocean Energy II-51
Ocean Mechanical Energy II-51
Ocean Thermal Energy II-51
Disadvantages of Renewable Energy II-51
Disadvantages of Solar Energy II-51
Disadvantages of Wind Energy II-51
Disadvantages of Geothermal Energy II-52
Disadvantages of Hydroelectric Energy II-52
Disadvantages of Ocean Energy II-52
4. PRODUCT LAUNCHES/INTRODUCTIONS II-53
Parker Hannifin Unveils Outdoor PCS for Energy Storage
Applications II-53
Imergy Power Systems Launches ESP30 Series II-53
Aquion Energy Introduces Second Generation AHI technology II-53
Kyocera Solar and Stem Unveils Energy Storage Solution II-53
LG Unveils New Range of Energy Solutions II-53
AllCell Technologies Introduces Lithium-ion Modules II-53
5. RECENT INDUSTRY ACTIVITY II-54
SunEdison Inks an Agreement with Aboitiz Renewables II-54
BrightSource and Shanghai Electric Forms JV II-54
ReneSola Inks a Framework Agreement with China Seven Star II-54
First Solar and BELECTRIC to Establish 46 MW Utility-Scale
Solar PV Power plant II-54
REC to Supply Solar Photovoltaic Panels to Recurrent Energy II-54
EIB Offers Grants for 30 MW Solar Power Project in Burkina Faso II-54
EHT Installs 108 KW Solar Power Project II-55
RES to Build GoldLight Solar LP II-55
Kyocera, Century Tokyo and Ciel et Terre Plan to Begin
Construction Floating Solar photovoltaic Plant II-55
Hitachi and Etrion to Construct Solar PV Plants II-55
S&C Electric Builds First Utility-Scale Solar Project in
Wisconsin II-55
ReneSola to Supply High Efficient Virtus II PV Modules to
GeoPeak Energy II-55
Solarrus Takes Over MaxGen II-55
HelioSage to Sell Elm City Solar Facility to Duke Energy II-56
Government of Rwanda to Establish First Utility-Scale Solar
Photovoltaic Power Plant in East Africa II-56
SolarReserve Completes Construction of Lesedi and Letsatsi
Projects II-56
KIT Establishes Utility-Scale Battery and Photovoltaic Test
Centre II-56
Mainstream Announces Eight Wind and Solar projects II-56
RES Americas Announces Two Grid-Scale Energy Storage Projects II-56
PG&E to Build Five Energy Storage Systems II-56
Temporal Power and NRStor Join Forces to Test Flywheel in Grid
Power II-56
LG Chem Inks with Siemens II-57
Enstorage Inks an Agreement with Schneider and Areva II-57
Imergy Secures Purchase Order for four ESP5 Vanadium Flow
Batteries II-57
ReneSola Sells Three Utility-Scale Projects to Jiangsu Akcome II-57
GDF SUEZ Purchases Znyth™ Battery System from EOS Energy Storage II-57
SunEdison Takes Over First Wind II-57
Kauai Utility Receives Approval for Hydropower Storage Project II-57
Electrovaya Receives Grant for Intelligent Energy Storage Systems II-57
Oncor to Invest in Energy Storage Systems II-58
Alstom Obtains Contract for Hainan Qiongzhong Pumped-Storage
Plant II-58
Ideal Power Obtains Purchase Orders for Additional 3MW II-58
Canadian Solar to Provide 4 MW to Support the Ontario Grid II-58
Electrovaya Collaborates with Walmart Canada for Lithium Ion
2.0 Battery Systems II-58
Alevo Unveils Manufacturing Plant in North Carolina II-58
Southern California Edison Inks Energy Storage Agreements II-58
Imergy Inks Manufacturing Agreement with Foxsemicon II-58
SunEdison Expands to Australia, China and the UK II-59
Germany Unveils the Largest Battery Plant in Europe II-59
Samsung SDI Forms JV with Sungrow II-59
NEC Energy Solutions Receives Contract to Build Energy Storage
System in California II-59
Lockheed Martin Takes Over Assets of Sun Catalytix Corporation II-59
RES Canada Completes Construction of Energy Storage System in
Amphora II-59
NEC Acquires A123 Energy Solutions II-59
Philadelphia Navy Yard Commences Advanced Battery Storage in
its GridSTAR Smart Grid Experience Center II-59
Greensmith Installs up to 9 MWh Energy Storage Capacity II-60
The State of California Mandates Grid Capacity Energy Storage
Systems II-60
Wanxiang America Corporation Acquires A123 Systems II-60
Duke Energy Commences Construction of Three Solar Projects II-60
HelioSage to Develop 20 Megawatt Solar Facility in South
Eastern Connecticut II-60
Westinghouse Solar Signs Definitive Merger Agreement with CBD
Energy II-60
W2 Energy Inks LoI to Take Over Majority Stake in Artic Solar
Engineering II-60
Altair Nanotechnologies Signs Economic Cooperation Agreement
with Wu'an and Handan Cities II-61
Phostech Lithium Establishes Battery Materials Production
Facility in Quebec II-61
TAM Ceramics and ENrG Receive Grants from NYSERDA for Clean
Energy Power Systems II-61
Arista Power Obtains Contract from US Army for Development of
Intelligent Micro-Grid II-61
6. PLAYERS IN THE ADVANCED ENERGY STORAGE ECOSYSTEM II-62
Active Power, Inc. (USA) II-62
Air Liquide (France) II-62
Alstom (France) II-62
Altair Nanotechnologies, Inc. (Canada) II-62
Amber Kinetics, Inc. (USA) II-63
American Superconductor Corporation (USA) II-63
Areva (France) II-63
Ashlawn Energy, LLC (US) II-64
Axion Power International, Inc. (USA) II-64
Ballard Power Systems, Inc. (Canada) II-64
Beacon Power, LLC (USA) II-65
BYD Co. Ltd. (China) II-65
DMG MORI SEIKI Aktiengesellschaft (Germany) II-65
Duke Energy Corporation (US) II-66
ECOULT (Australia) II-66
Electrochaea GmbH (Germany) II-66
Emera Inc. (Canada) II-67
Encell Technology, Inc. (USA) II-67
E.ON SE (Germany) II-67
Exide Technologies (US) II-67
First Hydro Company (UK) II-68
General Compression, Inc. (USA) II-68
Gridflex Energy, LLC (US) II-68
Hydrogenics Corporation (Canada) II-68
ITM Power Plc (UK) II-68
Kokam co., Ltd (Korea) II-69
LG Chem (Korea) II-69
LightSail Energy (USA) II-69
Maxwell Technologies, Inc. (USA) II-69
McPhy Energy S.A. (France) II-70
NEC Energy Solutions (Japan) II-70
NGK Insulators, Ltd. (Japan) II-70
Proton OnSite (USA) II-71
Prudent Energy Corporation (USA) II-71
Redflow Limited (Australia) II-71
Saft Groupe S.A. (France) II-71
Samsung SDI Co., Ltd. (South Korea) II-72
SustainX Inc. (USA) II-72
Temporal Power (Canada) II-72
Tianjin Lishen Battery Co., Ltd. (China) II-72
Toshiba International Corporation (USA) II-73
VYCON (USA) II-73
ZBB Energy Corporation (USA) II-73
7. GLOBAL MARKET PERSPECTIVE II-74
Table 25: World Recent Past, Current and Future Analysis for
Advanced Energy Storage by Geographic Region - US, Western
Europe, Asia-Pacific, and Rest of World Markets Independently
Analyzed with Installed Capacity in MW for Years 2014 through
2020 (includes corresponding Graph/Chart) II-74
Table 26: World 7-Year Perspective for Advanced Energy Storage
by Geographic Region - Percentage Breakdown of Installed
Capacity for US, Western Europe, Asia-Pacific, and Rest of
World Markets for Years 2015 and 2020 (includes corresponding
Graph/Chart) II-75
III. MARKET
1. THE UNITED STATES III-1
A.Market Analysis III-1
Outlook III-1
Long-term Outlook for Solar Energy to Drive Demand III-1
Table 27: List of Major Solar Projects in Development Phase
in the Country (includes corresponding Graph/Chart) III-1
Table 28: US Solar PV Installations (2014E): Percentage
Share Breakdown of Installed Capacity for Non-Residential,
Residential, and Utility (includes corresponding
Graph/Chart) III-2
Favorable US Policies to Improve Solar Power Generation
Capabilities III-2
Table 29: Power Plant Capacity Additions (MW) in the US by
Type of Power: 2013 (includes corresponding Graph/Chart) III-2
Dwindling Utility-Scale LCOE to Expand Scope III-2
Table 30: Utility-Scale Solar PV Costs by Segment: 2011 &
2013 (includes corresponding Graph/Chart) III-3
Manufacturers Gear Up to Promote Utility Scale Energy Storage III-3
Rising Number of Energy Storage Projects offer Significant
Growth Opportunities III-4
NYC Utility's Ambitious Plans for Energy Efficiency to Drive
ESS Growth III-4
Incentives under ConEd's Demand Management Progaram III-5
Small-Scale Renewable Energy Projects: A Threat to Grid-
Scale Energy Storage? III-5
Product Launches III-5
Strategic Corporate Developments III-6
Key Players III-10
B.Market Analytics III-16
Table 31: US Recent Past, Current and Future Analysis for
Advanced Energy Storage by Installed Capacity in MW for
Years 2014 through 2020 (includes corresponding Graph/Chart) III-16
2. WESTERN EUROPE III-17
A.Market Analysis III-17
Outlook III-17
Advanced Energy Storage Gains Momentum in Western Europe III-17
Utility Scale Wind and Solar Power Storage Gain Momentum III-17
Rising Wind-Hydrogen Energy Storage Projects in Germany III-18
Boom in German Solar Market Offers Prospects for Energy Storage III-18
Strategic Corporate Developments III-18
Key Players III-19
B.Market Analytics III-22
Table 32: Western Europe Recent Past, Current and Future
Analysis for Advanced Energy Storage by Installed Capacity
in MW for the Years 2014 through 2020 (includes
corresponding Graph/Chart) III-22
3. ASIA-PACIFIC III-23
A.Market Analysis III-23
Outlook III-23
Asia: A Potential Laden Market III-23
Table 33: Asian Market for Advanced Energy Storage Systems
by Battery Type (2014 & 2016F): Percentage Share Breakdown
of Value Sales for Lead Acid, Lithium ion, Molten Salt, and
Others (includes corresponding Graph/Chart) III-24
Table 34: Asian Market for Energy Storage Systems by
Technology (2014 & 2016F): Percentage Share Breakdown of
Value Sales for Advanced Batteries, Pumped Hydro, and
Others (includes corresponding Graph/Chart) III-24
Asian Market Dynamics Promote Innovations III-25
Flourishing Solar Power Market Offers Growth Opportunities III-25
Review of Select Markets in the Region III-26
China III-26
Booming Solar Industry to Drive ESS Market III-26
China to Experience Notable Adoption of Energy Storage
Systems III-26
India III-27
Increasing Adoption of Renewable Energy Augurs Well for
the Market III-27
Table 35: Indian Market for Advanced Energy Storage
Systems (2020F): Percentage Share Breakdown of Energy
Stored by End-use Applications (includes corresponding
Graph/Chart) III-28
Product Launch III-28
Strategic Corporate Developments III-28
Select Regional Players III-30
B.Market Analytics III-32
Table 36: Asia-Pacific Recent Past, Current and Future
Analysis for Advanced Energy Storage by Installed Capacity
in MW for the years 2014 through 2020 (includes
corresponding Graph/Chart) III-32
4. REST OF WORLD III-33
A.Market Analysis III-33
Outlook III-33
A Review of Select Nations III-33
Japan's Focus on Renewable Energy Bodes Well for the Market III-33
Puerto Rico Introduces Mandatory Energy Storage Requirements III-33
Strategic Corporate Developments III-33
Select Players III-35
B.Market Analytics III-37
Table 37: Rest of World Recent Past, Current and Future
Analysis for Advanced Energy Storage by Installed Capacity
in MW for Years 2014 through 2020 (includes corresponding
Graph/Chart) III-37
IV. COMPETITIVE LANDSCAPE
Total Companies Profiled: 85 (including Divisions/Subsidiaries - 87)
The United States (50)
Canada (8)
Japan (2)
Europe (19)
- France (8)
- Germany (4)
- The United Kingdom (3)
- Italy (2)
- Rest of Europe (2)
Asia-Pacific (Excluding Japan) (7)
Middle East (1)
