GLEN ALLEN, USA: The market for battery and supercapacitor storage systems for Smart Grid applications will grow from $1.5 billion in 2012 to $8.3 billion in 2016, according to a new report from NanoMarkets.
Key insights:
* NanoMarkets believes that new battery technologies will be needed to meet the demanding storage requirements of the Smart Grid and that lead carbon, Sodium Sulfur (NaS) and flow battery technology will take a growing share of Smart Grid storage applications.
Flow batteries show especial promise and NanoMarkets believes that revenues from these type of batteries will reach $510 million by 2016. Another technology that should be fully commercialized in a five-to-eight-year timeframe is the ultrabattery which is an advanced lead acid battery that integrates supercapacitor technology.
* NanoMarkets' report says that initially current UPS strategies for retail electrical supply will be extended for use in peak shaving applications. The second major growth area for Smart Grid storage will emerge to provide grid stability for intermittent generating sources -- primarily on-grid wind and solar.
Battery-based grid storage will also be a key requirement for microgrids for regions that currently lack reliable grid infrastructure as well as for military support applications.
* Current national and international goals for alternative energy deployment will not be met without extensive new storage capability installed in national grids. Without such installation the required grid stability and peaking shifting capability needed to meet these goals cannot be attained.
* NanoMarkets believes that supercapacitor demand from the Smart Grid will reach $1.1 billion by 2016. Because of their fast discharge rate and low maintenance, the demand for supercapacitors will find their most extensive in frequency regulation applications.
The other area where significant growth for supercapacitors is expected is in regenerative braking for grid-connected light rail systems.
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