According to a new white paper from Navigant Research, global installed hybrid energy storage system power capacity is expected to grow from 78.6 MW in 2017 to 2.1 GW in 2026.
A new report from Navigant Research examines the global market for utility-scale and customer-sited hybrid energy storage systems, providing forecasts for power capacity, energy capacity, and revenue, segmented by region, technology, and market segment, through 2026.
The stationary energy storage industry is now exploring grid-scale hybrid solutions, or hybrid energy storage systems, which integrate two or more energy storage technologies with complementary operating characteristics. These systems deliver power capacity, energy duration, and cycle life in a single system that is not achievable by any one energy storage technology.
“Much of the growth of the hybrid energy storage system industry is expected to occur alongside the maturation of pure-play battery energy storage technology,” says Ian McClenny, research analyst with Navigant Research. “The future of the HESS industry in global markets will be largely decided by customer and grid operator needs, evolving market structures to value flexible resources favorably, and the local utilities’ views on new technology.”
Hybrid energy storage systems have the potential to change the energy storage landscape and give customers more efficient, cost-effective options to service their needs, according to the report. The advantages to deploying hybrid energy storage systems over typical stationary energy storage systems include lower cost, increased system efficiency, increased system lifetime due to optimized operation, and the ability to do more and last longer with less overall storage capacity.