Alternative Electrical Power Storage Market to Grow 5.4% Annually Through 2016


Source: Marketwire

ROCKVILLE, MD -- (Marketwire) -- 06/13/11 -- has announced the addition of the new report 'Electrical Power Storage Technologies for Alternative Energy Sources,' to their collection of Energy market reports. For more information, visit

Utility-scale power generation has moved beyond the tried and true coal-fired, oil-burning, natural gas, nuclear, and hydroelectric stage. Significant amounts of electric power are generated using generally smaller 'alternative' sources like wind, solar, tidal, and geothermal. As these smaller power generation approaches proliferate, the problem of off-peak generation becomes important. What to do at night, or when the wind doesn't blow, or when it blows too hard? Power system designers must begin to investigate ways to store alternative power so that it can be used when needed.

The global alternative electrical power storage market in 2011 will be worth more than $325 million, including more than $236 million worth of electrochemical batteries. This market is expected to grow at a compound annual growth rate (CAGR) of 5.4% between 2011 and 2016 under a consensus scenario resulting in a $423 million global market in 2016, including $322 million worth of electrochemical batteries.

BCC Research anticipates a $175 million wind power market and a $147 million solar power market in 2011 under a consensus scenario. An optimistic but still possible scenario could see a wind power market worth more than $240 million by 2016, reflecting a 7% compound annual growth rate (CAGR).

In 2011, BCC Research forecasts much larger fuel cell systems will be shipped. This sector is estimated at $25 million in 2011 and is expected to increase at a 12% compound annual growth rate (CAGR) to reach $44 million in 2016.

This report is intended to provide a unique analysis of the alternative electrical power storage market and will be of interest to a variety of current and potential alternative energy makers, users, and integrators as well as battery, fuel cell, capacitive energy storage and flywheel energy storage system makers and component makers.

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