Green power waits on battery catch-up
Recent research reports suggest the energy storage market is about to take off.
Experts predict the global energy storage market for renewable power sources will grow at a rate of 65.7 per cent for the 2015-2019 period.
“Lead-acid batteries are traditionally used in the renewable energy industry to store solar energy, and have applications in off-grid renewable applications such as solar, wind, and limited grid connected PV storage,” one analyst said.
“However, the renewable industry is likely to face a shift in the forecast period.”
“The solar energy storage using lead-acid batteries are expected to replace it with batteries with high efficiency, which are less bulky and have a high energy density.”
The report says the booming battery energy storage market is being driven by the need to maintain grid stabilisation, as well as transmission and distribution (T&D) deferral.
It is also by boosted by a growing awareness and interest in renewable sources, such as wind and solar PV, and the need to optimise the ways that the variable renewable power methods are fed into grids.
The report argues that energy storage batteries are central to enabling efficient power supply to grid while covering for the sometimes fickle nature of renewable energy sources.
But it indicates that new technology is needed, as the operational challenges of lead-acid batteries are now hindering market growth.