A battery energy storage system is a system that
stores energy by using battery technology so that the stored power can be used
later whenever required. The global battery energy storage system market is
segmented based on geographic regions and technology.
Batteries are the most widely used energy storage systems around the
world. Price is a key factor for the adoption of energy storage systems. The
costs of the battery systems have been declining significantly since 2010. This
price decline is attributed to the improvements in hardware and the
standardization of system design and engineering. The prices of battery systems
are expected to decline to half of the present prices during the forecast
period.
The sales of battery systems have been rising considerably due to the
high adoption of energy storage systems. Rising sales have been accompanied by
increasing economies of scale, which have ultimately resulted in the reduction
in the prices of battery systems. Thus, the declining costs of battery systems
will encourage the sales of battery
energy storage systems and lead to the growth of the global battery energy
storage system market at a CAGR of 9.15% during the forecast period.
Browse Full Report - http://bit.ly/2oJO3ob
No comments:
Post a Comment