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Electrical Power Storage Technologies for Alternative Energy Sources

Electrical Power Storage Technologies for Alternative Energy Sources

  • June 2017
  • 381 pages
  • ID: 5002444
  • Format: PDF
  • BCC Research


Table of Contents

• The global market for alternative energy storage market reached $847 million in 2016. This market should reach $1.3 billion in 2017 and nearly $5.7 billion by 2022 under a consensus scenario at a compound annual growth rate (CAGR) of 34.0% through 2022.
• Batteries as a segment should reach $1.1 billion in 2017 and $5.4 billion by 2022, at a CAGR of 36.0% through 2022.
• Fuel cells as a segment should reach $65 million in 2017 and should reach $131 million by 2022, at a CAGR of 15.0% through 2022.

Study Goals and Objectives
Utility-scale power generation has moved beyond the tried and true coal-fired, oil-burning, natural gas, nuclear, and hydroelectric stages. Significant amounts of electric power are generated using generally smaller, “alternative” sources such as wind, solar, tidal, and geothermal. As these smaller power generation approaches proliferate, the problem of off-peak generation becomes important: What if power is generated when it is not needed? What should be done at night, or when the wind does not blow, or when it blows too hard? Power system designers are now rolling out ways to store alternative power so that it can be used when needed.

At the same time, the power generation mix is roiling. Historically low natural-gas prices are beginning to rise. The Japanese nuclear power infrastructure has stabilized, but there are profound concerns about the Japanese nuclear power situation in general and the overall safety and desirability of nuclear power in particular. After eight years of a U.S. administration that strove to wind down coal-burning power plants, the new U.S. political power brokers are very pro-coal.

Despite scientific consensus around and historic responses to global climate change, leaders at the very highest levels are backing down on moving away from fossil fuels. Solar, wind, geothermal, and tidal/wave power generation technologies have advanced to the point where they can compete with conventional methods in terms of efficiency, cost-effectiveness, and environmental impact. This is vital, because government incentives may be ending or at least retreating.

With this in mind, this report measures and examines the emerging market for utility-scale, alternative electric power storage, including the use of batteries, fuel cells, capacitive storage, and flywheel energy storage. These storage approaches can be deployed using stationary facilities, mobile arrays, banks of parked electric vehicles, and, increasingly, smart grids that can combine a variety of approaches.

Reasons for Doing This Study
This report can provide valuable information in terms of assessing investment in specific technologies and, therefore, should benefit investors directly or indirectly. Others may find the broad discussions of energy policy and environmental impact to be of considerable value in understanding the opportunities and problems in the near term to middle term.

Scope of Report
As defined by this report, alternative electrical power storage includes approaches that use primarily electric and high-speed kinetic approaches as opposed to larger-scale kinetic approaches such as pumped hydro and compressed air.

As such, alternative electrical power storage includes:
• Batteries (including lead acid, nickel-based, lithium-based, sodium-sulfur, and redox flow systems).
• Fuel cells, which can be powered by hydrogen generated by excess capacity.
• Flywheel energy storage, which stores excess energy in a high-speed rotating kinetic battery.

Capacitive energy storage, which uses an electronic rather than an electrochemical approach to store electrical energy.

As defined by this report, alternative electrical power storage refers primarily to power generated by means other than coal, oil, natural gas, nuclear, and hydroelectric (wind, solar, geothermal, and tidal/wave). However, the alternative market is discussed in relation to this established “conventional” market. It should also be noted that many of the energy-storage technologies discussed in this report can also be used during conventional power generation for peak shifting.

This report discusses the North American, European, Far Eastern, and Rest of World market in terms of units, value and megawatt capacity. A target market based on optimistic, pessimistic, and consensus alternative energy adoption and power storage potential is provided. This is compared to the conventional power generation target and peak-shifting opportunities. Major utility-scale alternative electrical power companies are listed and characterized, and energy-storage system companies and integrators are profiled in detail.

Note that there is a significant distinction between the term “alternative power” and the more commonly used term “renewable energy.”

The distinction is as follows:
• “Alternative power” is generated using processes beyond commonly used coal, oil, natural gas, nuclear, and hydropower.
• “Renewable energy” is generated using processes that do not expend mined or pumped resources such as coal, oil, natural gas, and nuclear. However, in addition to all of the alternative fuels, renewable energy also includes hydropower.

An in-depth analysis of technical and business literature and published dissertations; a review of the history of the technologies involved; and interviews with industry experts, company representatives, federal government researchers, and university scientists provided an assessment of the outlook for alternative power storage.

Information Sources
Both primary and secondary sources were used in preparing this report. Although many segments of the industry are well documented, much of this information is based on informed estimates or predictions, rather than hard facts. The distinction between these estimates and hard facts can be vital; , wherever possible, sources are identified.

This report is intended to provide a unique analysis of the alternative electrical power storage market. It will be of interest to a variety of current and potential alternative energy makers, users, and integrators as well as battery, fuel-cell, capacitive energy–storage, and flywheel energy-storage system makers and component makers. BCC Research wishes to thank those companies, government agencies, and university researchers that contributed information for this report.

An in-depth analysis of technical and business literature and published dissertations; a review of the history of the technologies involved; and interviews with industry experts, company representatives, federal government researchers, and university scientists provided an assessment of the outlook for alternative power storage. Other information sources included product literature from suppliers, scientific references, conferences, and patent searches.

Both primary and secondary research methodologies were used in preparing this report, which is based on interviews with commercial and government sources, literature reviews, and patent examinations. Throughout the report, past market data is expressed in current dollars, and estimates and projections are in constant 2017 dollars. Historic markets (2011 and 2016) and the projected market for 2017 and 2022 are provided. Long-term markets prospects (beyond 2022) are discussed in more general terms.

Note that value is expressed in million dollars and shipments are expressed in tons. In both cases totals are rounded to the nearest integer (i.e., less than $500,000 is expressed as 0.) Values are based on the equivalent of “wholesale” (i.e., prices based on metal exchanges or internal captive production value estimates).

Most market summaries are based on a consensus scenario that assumes no unanticipated technical advances and no unexpected legislation. When appropriate, pessimistic, consensus, and optimistic market scenarios characterize several developmental markets. Totals are rounded to the nearest million dollars. When appropriate, information from previously published sources is identified to allow a more detailed examination by clients.

Geographic Breakdown
In this report, the geographic regions considered for market analysis include, and only include:
• North America.
• Europe.
• Far East.
• Rest of World.

Summary and Highlights
When considering the alternative power storage market, it is important to keep in mind that alternative power storage is just a part of the overall power storage market.

On one hand, the overall power storage market includes grid power storage (load leveling, peak shaving, etc.), in which power was not generated using alternative methods such as wind, solar, tidal/wave, or geothermal. At the same time, alternative power can be stored using techniques beyond the battery, fuel-cell, capacity, and flywheel approaches considered in the scope of this report. For instance, pumped hydro, compressed air, and hydrogen-for-combustion fuel are other potential approaches.

With this in mind, as defined in this report, the global alternative electrical power storage market in 2017 will be worth more than $1.3 billion, including more than $1.1 billion worth of electrochemical batteries. This market is expected to grow at a compound annual growth rate (CAGR) of 34% between 2017 and 2022 under a consensus scenario. This will result in a global market of approximately $5.7 billion in 2022 under a consensus scenario, including $5.4 billion worth of electrochemical batteries.
Most of this value and growth will result from alternative power storage systems used in the wind power and the solar power (especially photovoltaic) industries.

BCC Research anticipates a $700-million wind power storage market and a $600-million solar power storage market in 2017 under a consensus scenario. An optimistic but still possible scenario could see a wind power market worth $3.5 billion by 2022 (based on a 38% CAGR).

Alternative power storage units range from small kilowatt units to giant developmental modules or arrays that can store megawatts of power. In 2017, BCC Research predicts that $766-million worth of small-scale batteries will be sold under a consensus scenario. This market is forecast to grow at about a 36% CAGR to more than $3.5 billion by 2022.

The following table summarizes the global historic and projected alternative power storage market under a consensus scenario. Please refer to this report’s “Alternative Power Storage Market” section for detailed definitions of each market as well as point-by-point lists and discussions of influencing factors and optimistic and pessimistic scenarios.

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