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Energy Storage for Ancillary Services Will Surpass $3.8 Billion in Annual Revenue by 2023, Forecasts Navigant Research

  Energy Storage for Ancillary Services Will Surpass $3.8 Billion in Annual
  Revenue by 2023, Forecasts Navigant Research

Business Wire

BOULDER, Colo. -- June 14, 2013

Ancillary services, such as frequency regulation and voltage support, are
required to maintain safe, reliable, and secure transmission of electricity on
the grid. As the technical need for ancillary services grows over the next 10
years, the corresponding demand for energy storage systems (ESSs) that support
these services will grow as well. According to a recent report from Navigant
Research, worldwide revenue from ESSs for ancillary services will increase
from less than $590 million in 2013 to more than $3.8 billion in 2023.

“With the integration of intermittent, distributed, renewable sources of
power, the technical challenges of generating, transmitting, and distributing
electricity are increasing,” says Anissa Dehamna, senior research analyst with
Navigant Research. “Along with the growing volatility of load and generation,
moves toward deregulation in high economic growth markets, such as Asia
Pacific, are highlighting the value of ESSs for ancillary services.”

Mechanical technologies, such as pumped hydro, compressed air, and flywheels,
continue to dominate the market for ESSs. However, the emergence of advanced
battery chemistries, such as lithium carbonate, lithium titanate, and advanced
lead-acid, promises to open a new era of innovation in energy storage
technology, according to the report.

The report, “Energy Storage Systems for Ancillary Services”, analyzes the
global market for energy storage to provide ancillary services. The report
provides a comprehensive assessment of the demand drivers and technology
issues associated with the ancillary services market. Key industry players are
profiled in depth and worldwide revenue and capacity forecasts, segmented by
technology and region, extend through 2023. An Executive Summary of the report
is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market
research and benchmarking services for rapidly changing and often highly
regulated industries. In the energy sector, Navigant Research focuses on
in-depth analysis and reporting about global clean technology markets. The
team’s research methodology combines supply-side industry analysis, end-user
primary research and demand assessment, and deep examination of technology
trends to provide a comprehensive view of the Smart Energy, Smart Utilities,
Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional
information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated
to assisting clients in creating and protecting value in the face of critical
business risks and opportunities. Through senior level engagement with
clients, Navigant professionals combine technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting, with
business pragmatism in the highly regulated Construction, Energy, Financial
Services and Healthcare industries to support clients in addressing their most
critical business needs. More information about Navigant can be found at
www.navigant.com.

* The information contained in this press release concerning the report,
“Energy Storage Systems for Ancillary Systems,” is a summary and reflects
Navigant Research’s current expectations based on market data and trend
analysis. Market predictions and expectations are inherently uncertain and
actual results may differ materially from those contained in this press
release or the report. Please refer to the full report for a complete
understanding of the assumptions underlying the report’s conclusions and the
methodologies used to create the report. Neither Navigant Research nor
Navigant undertakes any obligation to update any of the information contained
in this press release or the report.

Contact:

Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com
 
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