Installed Hybrid Energy Storage System Power Capacity is Expected to Exceed 2 GW in 2026, According to Navigant Research
Hybrid energy storage systems offer increased efficiency and lifetime as well as the ability to do more with less overall storage capacity, report finds
BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the global market for utility-scale and customer-sited hybrid energy storage systems (HESSs), providing forecasts for power capacity, energy capacity, and revenue, segmented by region, technology, and market segment, through 2026.
The stationary energy storage industry is now exploring grid-scale hybrid solutions, or HESSs, which integrate two or more energy storage technologies with complementary operating characteristics. These systems deliver power capacity, energy duration, and cycle life in a single system that is not achievable by any one energy storage technology. Click to tweet: According to a new white paper from @NavigantRSRCH, global installed HESS power capacity is expected to grow from 78.6 MW in 2017 to 2.1 GW in 2026.
"Much of the growth of the HESS industry is expected to occur alongside the maturation of pure-play battery energy storage technology," says Ian McClenny, research analyst with Navigant Research. "The future of the HESS industry in global markets will be largely decided by customer and grid operator needs, evolving market structures to value flexible resources favorably, and the local utilities' views on new technology."
HESSs have the potential to change the energy storage landscape and give customers more efficient, cost-effective options to service their needs, according to the report. The advantages to deploying HESSs over typical stationary ESSs include lower cost, increased system efficiency, increased system lifetime due to optimized operation, and the ability to do more and last longer with less overall storage capacity.
The report, Hybrid Advanced Battery Markets, analyzes the global market for utility-scale and customer-sited HESSs. The study examines the market drivers and barriers and technological trends affecting the deployment of HESSs around the world. Global forecasts for power capacity, energy capacity, and revenue, segmented by region, technology, and market segment, extend through 2026. The report focuses on current and future technologies in the HESS market, including battery-battery, battery-capacitor, and other hybrid systems. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant's professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant's practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.