Grid Scale Battery Storage Market 2014 2024

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Grid Scale Battery Storage Market
Forecast 2014-2024
Prospects for Energy Storage Technologies (EST) Companies

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Grid Scale Battery Storage Market Forecast 2014-2024:
Key areas covered in this report will enable you to:
• Gain an understanding of capital expenditure on grid scale battery storage over the next 10
years, with detailed global CAPEX forecasts from 2014 to 2024.
• Acquire the market shares and CAPEX forecasts for each of the five technology submarkets
analysed in the report:
o Lithium-ion batteries
o Sodium-based batteries
o Flow batteries
o Advanced lead acid batteries
o Other battery system
technologies
• Learn the individual market shares and CAPEX forecasts of the leading seven national markets
for energy storage technologies, each assessed by analysing country-specific economic,
political and social drivers and restraints to the market:
o US
o Japan
o China
o Italy
o Germany
o South Korea
o United Kingdom
o The analysis of the
aggregated value of the rest
of the world market
o The market outlook for
Australia, Canada, France,
Spain and the Middle East
and Africa
• Receive forecasts and analysis underpinned by extensive expert consultation. Transcripts of 4
original interviews are included within the report with expert insight from:
o Roger Lin, Director of Product Marketing at A123 Systems;
o Ted Wiley, Vice President – Product & Corporate Strategy at Aquion Energy;
o John Wood, Chief Executive Officer at Ecoult;
o Mio Nakatsuji-Mather, System Integrator Engineer at RedFlow Ltd.
• Gain insight into the energy storage technologies market via 98 tables, charts, figures and
graphs detailing and quantifying the market in detail over the period 2014-2024.
• Learn which markets present investors with the highest and lowest barriers to entry.
• Gain knowledge of who the leading players are within the grid scale battery storage industry,
with 2013 CAPEX and market shares, together with analysis, for the 5 leading companies in the
market. Profiles of 23 other major market players are also included.
• Receive a PEST analysis identifying the political, economic, sociological and technological
factors affecting CAPEX on grid scale battery storage from 2014 onwards.
• Evaluate the intertwined effects of political, social and economic factors that will determine the
market dynamics of the grid scale battery storage sector in the next decade.

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4.5 Other Battery Storage Technologies Market Forecast 2014-2024
Table 4.10 and Figures 4.15 and 4.16 display the CAPEX forecast on other GSB over the
upcoming 10 years. This forecast is worldwide and the market share given shows the percentage
of the global market that other GSB technologies possess versus the submarkets analysed in
Chapters 4.1, 4.2, 4.3 and 4.4.
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-24
CAPEX ($m) 15 17 20 26 31 42 66 96 152 223 342 463 1,479
AGR (%) 17.8 18.6 29.4 16.3 37.5 56.4 45.5 58.3 46.7 53.4 35.4
2019-24 47.6
39.0
30.9CAGR (%) 2014-19
CAGR (%) 2014-24
0
10
20
30
40
50
60
70
0
50
100
150
200
250
300
350
400
450
500
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
AGR(%)
CAPEX($m)
Year
Market value AGR %
Source: Visiongain 2014
Table 4.10 Other Battery Storage Technologies Market Forecast by National Market
2014-2024 ($m, AGR %, Cumulative)
Figure 4.15 Other Battery Storage Technologies Market Forecast by National
Market 2014-2024 ($m, AGR %)

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5.8 The South Korean Grid Scale Battery Storage Market Forecasts
2014-2024
Table 5.12, Figure 5.20 and Figure 5.21 show visiongain’s forecast for the South Korean GSB
market over the next 10 years.
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-24
CAPEX ($m) 30 30 35 38 43 51 77 123 193 360 433 592 1,974
AGR (%) 1.0 15.6 9.8 12.3 18.4 50.8 60.6 56.9 86.5 20.3 36.7
2019-24 50.5
34.7
20.5CAGR (%) 2014-19
CAGR (%) 2014-24
0
10
20
30
40
50
60
70
80
90
100
0
100
200
300
400
500
600
700
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
AGR(%)
CAPEX($m)
Year
Market value AGR %
Table 5.12 South Korean Grid Scale Battery Storage Market Forecast 2014-2024
($m, AGR %, CAGR %, Cumulative)
Figure 5.20 South Korean Grid Scale Battery Storage Market Forecast 2014-2024
($m, AGR %)

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7. Expert Opinion
7.1 A123 Energy Solutions
A123 Energy Solutions is an operating unit of A123 Systems. Founded in 2001, A123's proprietary
Li-ion nanophosphate technology is built on novel nanoscale materials initially developed at the
Massachusetts Institute of Technology (MIT). A123 leverages more than 1 million square feet of
manufacturing facilities in Asia, Europe and North America to mass-produce advanced battery cells
and systems to meet increasing global demand. A123 Energy Solution is headquartered
in Westborough, Massachusetts, US, and was acquired by the Chinese company Wanxiang Group
in January 2013 after filing for bankruptcy in October 2012.
Roger Lin is Director of Product Marketing at A123 Systems since March 2010, after joining the
company as Product Manager in 2005. Before that, Mr Lin worked for six years as Research
Engineer at Saint-Gobain and for two years as Analyst at YankeeTek Ventures. He graduated with
a BSc in Engineering, Ceramic from Rutgers University and holds a MEng in Materials Science
and Engineering from the Massachusetts Institute of Technology (MIT). Visiongain interviewed Mr
Lin in February 2014 and would like to thank him for his invaluable comments.
7.1.1 The Role of A123 Energy Solutions in the Grid Scale Battery
Storage Market
Visiongain: Can you describe the role of A123 Energy Solutions in the GSB storage market?
Roger Lin: A123 Energy Solutions is an independent operating unit of A123 Systems and is one of
the world leaders in Li-ion energy storage on the grid. We have between 110 MW and 120 MW of
installed grid scale battery capacity as of today and deployed our lithium iron phosphate (LFP)
battery systems in almost every continent in the world in at least two dozen different project
locations. Our oldest project dates back to 2008 and has been running in commercial service since
then. We installed one of the largest battery systems in the world, a 32 MW system in West
Virginia performing renewable integration and frequency regulation and we also have a whole host
of different battery systems performing services in pilots for utility companies, in the northern part
of the UK. In January 2014 we announced our most recent installation, a 1 MW-3 MWh system
near Seville, Spain. A123 Energy is also very active in helping the industry understand why energy
storage is important and how to make safe and reliable battery systems. The industry witnessed
some accidents in the past and we aim to assist the industry to avoid these types of accidents in
the future: this is one of the main things on which we are focusing this year. Operators looking at

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8.1 NGK Insulators Ltd
NGK Insulators Ltd 2013
CAPEX on Projects $65m
Global Grid Scale Battery
Storage Market Share
16.4%
Estimated Total Company
Revenue
JPY 305.0bn ($3.0bn)
(Forecast – FY 2013 ending on March 31
st
2014)
Headquarters Nagoya, Japan
Ticker 5333:TYO
IR Contact pr-office@ngk.co.jp
Website www.ngk.co.jp
NGK Insulators was the largest grid scale battery storage company in 2013, with projects for an
aggregated annual CAPEX of $65m or 16.4% of global CAPEX on GSB for the year, according to
visiongain’s calculations.
NGK Insulators is a multinational company that was founded in Japan in 1919 to produce
insulating metals. It has now over 50 subsidiaries covering three core areas: power, ceramics and
electronics. One segment of the power division is the company’s provision of NaS batteries,
designed specifically for grid scale battery systems. NGK Insulators jointly developed the NaS
battery technology in co-operation with Japan’s largest utility company, Tokyo Electrical Power
Company (TEPCO), producing battery modules with capacities that could range from 10 MW to
100 MW. In other words, the NaS module was specifically designed for large grid scale
applications, partly due to its high operating temperatures. Today, the company can count on more
than 300 MW deployed around the world, 190 MW of which are based in its Japanese home
market.
NGK Insulators’ batteries use a solid beta aluminium oxide electrolyte, making them more reliable
and efficient when the operating stability of the equipment is taking into account. However, the
company suffered a major set-back in September 2011, when a fire incident occurred at a NaS
battery installation at Mitsubishi Materials’ Tsukuba plant in Joso City, Japan, leading to intense
media focus on the safety of NGK Insulators’ batteries. The Nagoya-based company issued an
Table 8.2 NGK Insulators Ltd Overview 2013 (Total Revenue, CAPEX on Its Projects,
Global CAPEX Share %, Total Company Revenues, HQ, Ticker, IR Contact, Website)

Grid Scale Battery Storage Market 2014 2024

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