Published: Oct, 2014
Transparency Market Research has announced the addition of market research report on the Energy Storage Technologies Market titled “Energy Storage Technologies Market - Global and China Forecast, Share, Size, Growth And Industry Analysis (2010-2017)".
Browse Full Energy Storage Technologies Market - Global and China Forecast, Share, Size, Growth And Industry Analysis (2010-2017) Report @ https://www.transparencymarketresearch.com/energy-storage-technologies-market.html
Energy storage technologies provide numerous benefits to electric grids and are employed by utility companies for a myriad of purposes.
Besides the many complexities involved in the generation of power, a major challenge that every utility company faces is deciding on the amount of power to be generated and distributed on the grid on any typical day. Making sure that the right amount of power is generated and distributed is critical for the grid infrastructure – too much power can destroy the electronics and less power can result in power fluctuations and brownouts in many regions.
It is thus necessary to either accurately measure power requirements/demands or employ ways to store the surplus amount of power generated on any typical day. However, it is quite obvious that accurate measurement of power requirements by end users cannot be made – only predictions can be made by using past-data and some complex formulas. And so, storage technologies are the only ways to manage disproportion in the amount of power generated and distributed.
Energy storage facilities are very essential for the proper working of traditional energy sources such as natural gas or coal-based power plants. Such plants require a large amount of time as well as money to turn on and off. The slow ramp-up times of these bulk-power generation facilities is also a big issue – proper response to sudden rise in power demands is never possible, potentially resulting in brownouts and poor quality of power. And so it is always feasible for such plants to generate energy in bulk and store it for future use.
Storage technologies are also becoming increasingly popular due to a rise in the use of renewable energy sources. As is often stated, these energy sources are of intermittent nature, i.e., one can only generate solar power when the sun is shining or wind power when winds are blowing. By storing the power thus generated and using it as per demands, energy storage technologies can continue to power the grid even when it is not possible to generate the power, for instance when the sun is not shining or the winds are not blowing.
But storage of power from a variety of sources is not the only use of energy storage technologies. Storage technologies also improve the quality of power by regulating frequencies, and allow the generation of power in bulk when times are most efficient and processes are cheapest. Altogether, energy storage technologies allow today’s electrical systems to run more efficiently, which directly results in lower prices, more reliability and lesser emissions.
The energy storage technologies market includes technologies such as lithium ion batteries, flywheels, lead acid cells, super capacitors, NiCD, NiMH among many other developing ones. Geographically, Asia leads the market, which is followed by North America and Europe.
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