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Smart Grids has been boosted with the pressing need for efficient energy utilization

Press Release   •   Nov 18, 2010 14:16 IST

Global Smart Grid Energy Storage Market 2009-2013

Smart grids have been enabling the integration of renewable energy sources like wind and solar power generation systems to an electric grid. Furthermore, energy storage devices are increasingly being integrated with smart grids to provide additional supply during load balancing. It says “With environment friendly electrical distribution becoming the trend of the day, electrical grids across the world will soon be upgraded to smart grids. ( )

Various government policies to develop alternative energies will further encourage this development.” The Smart Grid Energy Storage market is expected to reach $1,315.7 million in 2013 growing at a CAGR of 39.7%. Various factors are expected to contribute to this growth including increased adoption among residential and small commercial customers. Other key factors that will drive this market include increasing implementation of real-time electricity coupled with the integration of renewable energy sources.

This report has been prepared based on an in-depth analysis of the smart grid energy storage market with the focus on trends across geographies. Inputs from industry experts, vendors and end users were used in the analysis. The report includes a market size estimation and forecasts, vendor landscape, drivers, challenges and trends.

This report analyzes Smart Grid Energy Storage market’s recent performance and provides worldwide market revenue and growth rates from 2009 through to 2013. It provides the market segmentation and forecasts for the market in each region (Americas, EMEA, APAC) for the period 2009 through to 2013.

The major growth drivers include:
- Energy storage systems in smart grids are now been implemented to improve transmission capacity, which is likely to find more political acceptance and which in turn will lead to their widespread adoption
- Lack of flexibility of nuclear and coal power generation is also driving the Smart Grid Energy Storage market
- Increasing renewable energy penetration in the electrical grid (smart grid) has been a major factor for growing energy storage system demand

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