U.S. Energy Storage Management Systems to Grow Tenfold by 2019
The U.S. market for intelligent energy storage management systems (ESMS) is poised to grow tenfold by 2019, as batteries move to the centre of utilities’ business strategies, according to a new study by GTM Research.
“As energy storage proliferates, many users are learning that they can’t just put energy storage and power control systems together to create value,” writes consultant James Belcher. “Batteries have a finite asset life, and their use affects asset life and return on investment. Getting the most value out of these energy storage installations requires the use of intelligent energy storage management systems.”
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The report traces market drivers and barriers for ESMS, including increased electricity consumption, falling battery costs, access to capital, and increasing use of solar generation and electric vehicles. It provides case studies of four ESMS installations, reviews key energy storage vendors, and concludes with a detailed forecast of the market potential through 2019. (The full report costs US$2,995, but GTM is providing the table of contents and selected figures as a free download.)