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Battery Storage to Become a Critical Smart Energy Enabler in the Commercial and Industrial Segment, Reaching an Aggregated Capacity of 124 GWh by 2030

 

March 14, 2024 (Investorideas.com Newswire) Battery Energy Storage Systems (BESS) are fast becoming essential components of overall smart energy approaches, not only inside public grids and at consumers' premises, but they are now also adopted by Commercial and Industrial (C&I) enterprises as key building blocks of their smart energy strategies. According to a new report from global technology intelligence firm ABI Research, the worldwide aggregated battery storage capacity in the C&I segment will reach 124 GWh by 2030, growing at a CAGR of 31,6%.

"Battery storage offers a wide range of benefits, ranging from buffering unpredictable renewable energy generation and addressing volatile pricing to higher levels of energy availability, quality, resilience, independence, and flexibility. Additionally, C&I BESS systems are instrumental in meeting sustainability and decarbonization targets and play a critical role in stabilizing public grids," explains Dominique Bonte, VP of End Markets and Verticals at ABI Research.

To derive maximum operational and financial benefits from battery storage, enterprises are advised to:

The BESS market is currently dominated by Chinese suppliers such as BYD, Tecloman, CATL, Cubenergy, and LiFe-Younger, which largely control the sourcing of battery materials, minerals, and components. A more level international playing field is expected to develop in the future.

The industrial segment currently represents more than 60% of all BESS C&I capacity, with mining operations and hyper-scaler data centers as the main early adopters and leading innovators.

These findings are from ABI Research's Battery Energy Storage Systems for Enterprises and Industries: Renewables Buffering, Pricing Volatility Mitigation, and Power Resilience application analysis report. This report is part of the company's Smart Energy for Enterprises and Industries research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present an in-depth analysis of key market trends and factors for a specific technology.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

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