Open Access
Table 3
Key driving factors in energy storage market.
| Aspects | Driving factors | |||
|---|---|---|---|---|
| Entry | Exit | Innovation | Growth | |
| Technical | ● Availability of reliable grids ● Backup security |
Lack of suitable locations (i.e., PHS) | ● Extended use of renewable energy sources ● Transformation of energy sector (including new applications such as electric mobility) ● Technological discoveries and breakthroughs |
Synergy between RE systems (i.e., solar PVs) and energy storage |
| Economic | ● Benefits from using different tariffs at different time ● Network investment return ● Demand management incentives |
Cost-effectiveness of the system | Changes in energy storage needs, and patterns of access are changing (move in the direction of quick and powerful response to the needs of the grid) | ● Demand charge reduction for commercial and industrial customers ● Advanced economics |
| Environmental | Change from utilization of fossil fuels to electricity (i.e., electric mobility) | Environmental concerns/toxicity of materials | Environmental concerns/toxicity of materials | Trend for a sustainable lifestyle |
| Regulatory | ● Regulatory framework and roadmap ● Frequency regulation in selected markets ● State-level incentives |
Changes in regulatory framework and policies | Changes in regulatory framework and policies | ● Regulatory framework and roadmap ● State-level incentives |
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