Energy Storage Value Chain Monitor

The energy storage market is a culmination of four influencing factors: renewable generation penetration, new business models in the power grid, EV roadmaps and charging infrastructure​, and conventional generation solutions. Given the increasing importance of these factors, especially aggressive renewable energy targets and EV growth plans, the demand for energy storage is continually increasing. Using top-of-the-line analytics tools, PTR’s Energy Storage Service provides an in-depth analysis of energy storage systems, the installed base, technologies, applications, and the energy storage value chain by country and region to help you gain a better understanding of the overall energy storage ecosystem. ​

From a global lens, over the past decade, the regional split of the Battery Energy Storage Systems (BESS) installed base shows that the Asia Pacific region hosts the greatest number, followed by Europe, North America, the Middle East & Africa region, and then South America. In the APAC, Europe, and North America regions, the technology split is mostly Mechanical and Electromechanical as to where in the Middle East & Africa  and South America regions, this division is mostly Mechanical and Thermal.

Globally, Mechanical still dominates the overall market with a staggering 94% share, with Electrochemical at 4%, followed by Thermal, Electrical, Chemical, etc. In recent years, there has been a huge surge in the deployment of Lithium-ion based storage systems (which dominate the Electromechanical split), from small residential or commercial systems of few kW up to colossal installations of 50-100 MW. Falling Lithium costs is one of the major drivers for shift towards Lithium batteries. Moreover, Lithium-ion batteries are well-suited to shorter duration grid ancillary applications, making them the preferred choice.

Taking a look at North America in particular, the United States has the highest installed base partially attributed to mandated energy storage procurement targets for investor-owned utilities. Frequency remains a key energy storage use case in this region. Installations in the PJM area have contributed to this, where rapid deployment of utility scale BESS was done by the independent power producers because of a specific market product for fast-frequency regulation. Recently, however, a wider array of applications is seen with more and more projects catering to multiple revenue streams and exploring new financial models.

Over in the East, China has the highest deployments in the APAC region. The refinement of policy related to ancillary services has created a wave of energy storage construction and development in the country. On average, it takes approximately 2 years for a BESS to be deployed after getting announced. Due to the strength of the local battery supply chain, China’s reliance on other countries for procurement of batteries is little, thereby cutting down on this procurement time.

In understanding the various technologies in this segment, their market trends and drivers, policies that impact market dynamics, and concrete figures of what’s out there, what’s expected to come out there, and what future forecasts looks like, PTR’s Energy Storage Service serves to consolidate all of the relevant information into its Project Database, Power BI Report, and Storage News App. Where it takes a plethora of knowledge and drawing fine distinctions to extract meaningful insights, PTR does that for you so that all you have to do is figure out the action steps you want to take as a result.

• What are the recent project developments around the world?
• Who is working with whom across the value chain?
  1. Developers
  2. System Integrators
  3. Battery/PCS providers
  4. Software Providers
• Competitive Analysis from different lenses?
  1. Global Player Positioning
  2. Regional Level
  3. Country Specific Level
  4. Company Specific Analysis
• Which technologies are dominating the stationary storage landscape?

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