Many emerging grid storage technologies are unproven and pose high capital costs compared to conventional generation, transmission, and distribution grid infrastructure. There are, however, a handful of regions around the globe where grid storage is cost effective for specific applications – but the market is highly fragmented and dependent on several key regional drivers. The lack of clear historical market trends makes it necessary to understand the local factors that are driving massive growth in a relatively small grid storage market. Lux evaluated the cost effectiveness of eight grid storage technologies in six applications throughout 44 countries, including all 50 U.S. states, and found that the global demand for grid storage will reach $113.5 billion by 2017. Lux compared the impact of renewable portfolio standards, the pay-for-performance ruling, and government subsidies on global demand to identify the technologies, applications, and regions with the most promise for grid storage.
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