Grid-Scale Energy Storage System Market to See 35.5% Cagr Globally by 2019, Says a Research Report Available at Reports and Intelligence

Reports and Intelligence adds a report titled “Global Grid-scale Energy Storage System Market 2015-2019.” The report states that the global grid-scale energy market is expected to register a CAGR of 35.5% during the forecast period i.e. 2013-2018.

Grid-Scale energy storage refers to a technology used for the storage of electricity on large-scale, which is stored in an electrical power grid for later use. Grid-scale energy storage system are used with the purpose of storing energy, which can be consumed later in future during blackouts, power shortages or high demand for power supply. Grid-scale energy systems mainly includes flywheel, advanced batteries, pumped hydro storage systems and some other emerging technologies for example; compressed air energy storage (CAES).

Get access to detailed report at: http://www.reportsandintelligence.com/global-grid-scale-energy-storage-system-2015-2019-market

When the generated amount of electricity is greater than the demand or consumption, the excess energy is saved in the grid-scale energy storage systems. The stored amount of energy helps the consumers with their need for electricity during high demand scenarios. Grid storage systems works on the mechanism of storing the electricity during off-peak period and then supplying it during the on-peak period.

The growing need to reduce power blackouts and the growing demand for decentralized power generation are some of the major factors driving the growth of the global market. However, power utilities lack in upgrading the power grid systems, which could hamper the market growth, states the report.

The report on the global grid scale energy storage systems market provides detailed analysis of the market trends and various factors influencing the growth of the global market. The report also evaluates the growth potentials of the grid-scale energy storage systems market with a global perspective. The report is an extensive study on the market dynamics and provides...