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Energy storage trends and opportunities in emerging markets
A market research report by ESMAP (Energy Management Assistance Program) of IFC (International Finance Corporation) - a World Bank Group
Energy storage technologies are emerging as a major disruptor of the traditional approach to centralised power generation, transmission and distribution, as well as a key enabler of a new flexible approach to distributed generation, transmission, distribution and application of electric power and energy.
"Energy storage deployments in emerging markets worldwide are expected to grow over 40% annually in the coming decade, adding approximately 80 GW of new storage capacity to the estimated 2 GW existing today" - ESMAP/IFC World Bank report.
This market research and report will be of particular relevance to persons, companies and organisations interested in the business opportunities of energy storage in developing markets, including sub-Saharan Africa, in the years ahead.
The 50-page report provides a comprehensive market overview of battery and other energy storage technologies, associated price and usage trends, population and energy usage trends, regulatory frameworks and market structures, and the physical grid infrastructure, architecture and performance conditions in emerging markets, and in particular - sub-Saharan Africa.
The report covers the market drivers, cost trends, barriers and applications across the energy storage value chain for utility-scale, customer (behind-the-meter) and remote power system applications.
A regional market analysis and forecast is provided for Sub-Saharan Africa, and a number of case studies of energy storage in emerging markets are presented.
Extract from the Executive Summary of the report
Installations of stationary ESSs are increasing dramatically around the world as system costs are rapidly decreasing and as energy markets are being reformed to allow for the use of more distributed resources. The International Energy Agency (IEA) estimates that by 2020, developing countries will need to double their electrical power output to meet rising demand.
It is estimated that by 2035, these nations will represent 80% of the total growth in both energy production and consumption. In order to meet worldwide goals for reduction of greenhouse-gas emissions, a substantial portion of this new generation capacity will likely come from renewable sources.
While the costs for renewable generation continue to fall, integrating and effectively using these new resources, especially in regions with weak grid infrastructure, will require energy storage. Furthermore emerging economies must bring reliable electricity service to about 1,2-billion people who currently lack access.
Experience over the past several decades has shown that the traditional, centralised grid cannot or will not cost-effectively provide even basic electrical service to underserved populations in a reasonable amount of time. Distributed and remote power systems have enormous potential to provide service around the world, but are subject to a number of barriers.
This report will provide an overview of energy storage developments in emerging markets along with details on the services energy storage systems can provide at the utility-scale, in buildings, and in remote power systems. Key trends and barriers for the technology in emerging markets will also be explored in depth. Finally, case studies are included to highlight successful projects around the world that demonstrate both the challenges and potential for energy storage in emerging markets.
Here are some energy storage applications in emerging markets
- Utility scale battery energy storage
- Pumped water energy storage
- Railway-based potential energy storage
- Hydrogen / gas energy storage
- Molten salt energy storage
- Battery technologies
- Industrial, commercial and domestic applications
- Energy storage for electric vehicles
- Energy storage for smart grids
- Energy storage for micro-grid / remote power applications
- Fuel cell energy storage systems and applications
- Flywheel energy storage systems and applications
- Energy storage for remote power supplies for telecoms, etc.
- Integration of energy storage with wind and solar power
- Energy storage for power quality and frequency control
- Energy storage for synthetic inertia
- UPS and other standby power supply applications
- Energy storage for consumer electronic products
- Energy harvesting and storage