According to a recent report released by GTM Research and the Energy Storage Association, 2015 is shaping up to be the biggest year yet in the energy storage sector, with a projected deployment of 220 MW. This amount is expected to more than double on an annual basis. The energy storage market is broken into three segments:residential, non-residential and utility, all of which grow fast.
Battery storage systems are able to generate much more value when the same device or fleet of devices is able to provide multiple, stacked services to a variety of electricity system stakeholders. Battery energy storage systems are able to provide over a dozen services to the electricity grid, including energy arbitrage, frequency regulation, voltage support, distribution and transmission deferral, transmission congestion relief, time-of-use bill management, demand charge reduction and backup power. Broadly, energy storage is becoming an increasingly flexible and cost-effective tool for grid operators to help manage instability on their networks.