In United Kingdom, where green energy, carbon reduction mandates and nuclear-power phase-outs are pushing more and more volatility onto the grid, Energy Storage is a viable solution to mitigate this volatility. Hence, United Kingdom is expected to invest heavily in Energy Storage market. Modernizing the electric system will help the nations meet the challenge of handling projected energy needs€”including addressing climate change by integrating more energy from renewable sources and enhancing efficiency from non-renewable energy processes. Advances to the electric grid must maintain a robust and resilient electricity delivery system, and energy storage can play a significant role in meeting these challenges by improving the operating capabilities of the grid, lowering cost and ensuring high reliability, as well as deferring and reducing infrastructure investments. Finally, energy storage can be instrumental for emergency preparedness because of its ability to provide backup power as well as grid stabilization services.
Energy storage technologies€”such as pumped hydro, compressed air energy storage, various types of batteries, flywheels, electrochemical capacitors, etc., provide for multiple applications: energy management, backup power, load leveling, frequency regulation, voltage support, and grid stabilization. Importantly, not every type of storage is suitable for every type of application, motivating the need for a portfolio strategy for energy storage technology.
In reviewing the barriers and challenges, and the future for energy storage, a strategy that would address these issues should comprise three broad outcome-oriented goals:
1. Energy storage should be a broadly deployable asset for enhancing renewable penetration specifically to enable storage deployment at high levels of new renewable generation
2. Energy storage should be available to industry and regulators as an effective option to resolve issues of grid resiliency and reliability
3. Energy storage should be a well-accepted contributor to realization of smart-grid benefits specifically enabling confident deployment of electric transportation and optimal utilization of demand-side assets.
What the Report Offers
· Market Definition for the specified topic along with identification of key drivers and restraints for the market.
· Market analysis for the United Kingdom energy storage systems for grids Market, with region specific assessments and competition analysis on a global and regional scale.
· Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
· Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
· Identification and analysis of the Macro and Micro factors that affect the United Kingdom energy storage systems for grids market on both global and regional scale.
· A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.