Market for battery energy storage systems to reach 24,5 GWh by 2025
The global market for battery energy storage systems (BESS) is set to grow by a rate of approximately 19 per cent per year until 2025, a recent study finds, which was published on Tuesday alongside Batterietagung 2018 conference in Münster, Germany.
The annual BESS market volume is expected to grow to 24,5 GWh until 2025, starting from 6 GWh in 2017, according to the CEO of market research firm Avicenne Energy, Christophe Pillot.
The overall market for Lithium-Ion Batteries is set to reach a volume of 490 GWh by 2025.
A research paper from Forschungszentrum Jülich, also presented during Batterietagung 2018, says that in Germany currently are 55 BESS projects with a system size of more than 1 MW in operation. Their cumulated storage capacity sums up to approximately 500 MWh. The main application field is the provision of primary control Power (PCP).