What are the different types of energy storage technologies?

This report covers the following energy storage technologies: lithium-ion batteries, lead–acid batteries, pumped-storage hydropower, compressed-air energy storage, redox flow batteries, hydrogen, building thermal energy storage, and select long-duration energy storage technologies.

What is the growth rate of industrial energy storage?

The majority of the growth is due to forklifts (8% CAGR). UPS and data centers show moderate growth (4% CAGR) and telecom backup battery demand shows the lowest growth level (2% CAGR) through 2030. Figure 8. Projected global industrial energy storage deployments by application

What is long-duration energy storage (LDEs)?

Long-duration energy storage (LDES) is one example of an emerging market included in this report. Below is a high-level description of LDES that portrays its evolving profile and opportunity to fill an important storage need. As renewable content on the grid increases, the duration of storage needed to provide reliability also increases.

Is thermal storage viable?

Thermal storage can be viable for long-duration needs of both industrial processes and for the grid. It will likely remain focused on thermal-to-thermal cycles, but not thermal-to-electrical cycles, due to increased capital costs and efficiency issues for the electrical conversion.

Why is the United States a leader in stationary storage deployments?

In contrast to growth in transportation, the United States is a leader in global stationary storage deployments. This is usually because renewables are often the lowest-cost generation source, but require storage to mitigate variability.

Can stationary energy storage improve grid reliability?

Although once considered the missing link for high levels of grid-tied renewable electricity, stationary energy storage is no longer seen as a barrier, but rather a real opportunity to identify the most cost-effective technologies for increasing grid reliability, resilience, and demand management.