Global Grid Connected Battery Energy Storage System Market to Gain from Favorable Government Policies aimed at Commercializing Renewable Energy

Published Date : Sep 26, 2016

ALBANY, NY, Sep 26, 2016: has announced the addition of a new report to its repository, which provides insights into the factors influencing the deployment of grid connected battery energy storage system across the world. The report is titled “Grid Connected Battery Energy Storage System - Market Size, Competitive Landscape, Key Country Analysis And Forecasts To 2020” and is available for sale on the company website.

The report provides an overview of the energy storage market, defining the various technologies used for storing energy and their maturity level. It also includes an in-depth reports of the global battery energy storage system (BESS) market and opportunities witnessed across lucrative markets such as in India, Japan, China, Chile, Germany, France, South Korea, Australia, the UK, and the US. The report provides a detailed reports of the regional and country-level markets for BESS. It also analyzes the value for the historical and forecast periods.

For the purpose of the study, the global grid connected battery energy storage system market has been segmented based on parameters such as technology and application, besides geography. The key regional segments of the market are the Americas, Europe, and Asia Pacific. The report also gauges the competition prevailing in the market to identify the winning strategies adopted by the leading players.  

The global grid connected battery energy storage system market is expanding at a robust pace, propelled by impressive technological breakthroughs and the growing manufacturing capabilities. The expansion demonstrated by the market has caught attention of governments worldwide, who are now rolling out favorable initiatives such as preferential tariffs, subsidies, and targets thus benefiting the core market significantly. The commercialization of the utility-scale grid connected solutions is likely to accelerate in the forthcoming years, bringing lucrative prospects for companies having the technological ability to compete.

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The growth witnessed in the variable renewable energy generation, particularly photovoltaics and wind, has greatly influenced regulatory policies relating to the interconnection of renewable energy with the grid. This has considerably bolstered the demand for grid-modernization and robust storage technologies such as the battery energy storage systems.

Furthermore, the development of ancillary battery markets for hybrid and electric vehicles, wearable gadgets, and consumer electronics has reduced costs of incurred on technological developments as well as manufacturing capacity. Given the scenario, the battery technology is projected to be one of the most promising options for distributed storage for future commercialization.

The aforementioned factors are likely to have a positive impact on the leading companies operating in the market such as ABB Ltd, BYD Company, Panasonic Corporation, S&C Electric, Siemens AG, GS Yuasa International, and others. The report includes a detailed reports of the strategies adopted by these companies and their impact on the market.

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