Lithium-ion battery technology remains the top choice of energy storage system for new projects worldwide, according to a new report.
The Navigant Research report, Energy Storage Tracker 3Q16, revealed lithium-ion batteries accounted for 83 per cent of newly announced energy storage system capacity during the third quarter of this year.
The report also showed the adoption of distributed energy storage systems, flow batteries and hybrid battery systems are also on the rise.
These systems are advantageous in that they can provide multiple services to the grid based on dynamic conditions and specific requirements.
“While Li-ion leads in terms of technology, distributed energy storage systems (DESSs) are becoming increasingly popular in several regions, accounting for around 14 per cent of new system capacity announced in 2016—the highest percentage of any year on record,” research associate Ian McClenny said.
“DESSs are generally much smaller than utility-scale systems and are expected to thrive as they become more cost-effective and productized, leading to more streamlined installation and opening new markets.”
Nearly two gigawatts (GW) of new ESSs have been announced in 2016 so far, and several projects have reached commercial operation this quarter alone.