Energy Storage Grand Challenge: Energy Storage Market Report

Abstract

As part of the Department of Energy's (DOE) Energy Storage Grand Challenge (ESGC), DOE intends to synthesize and disseminate best available energy storage data, information, and analysis to inform decision-making and accelerate technology adoption. The ESGC Roadmap provides options for addressing technology development, commercialization, manufacturing, valuation, and workforce challenges to position the United States for global leadership in the energy storage technologies of the future. This report provides a baseline understanding of the numerous, dynamic energy storage markets that fall within the scope of the ESGC via an integrated presentation of deployment, investment, and manufacturing data from the best, publicly-available sources. This report covers the following energy storage technologies: lithium ion batteries, lead acid batteries, pumped storage hydropower, comrpessed air energy storage, redox flow batteries, hydrogen, building thermal energy storage, and select long duration energy storage technologies. Not all energy storage technologies and markets could be addressed in this report. Due to the wide array of energy technologies, market niches, and data availability issues, this market report only included a select group of technologies. For example, thermal energy storage technologies are very broadly defined and cover a wide range of potential markets, technology readiness levels, and primary energy sources. In other areas, data scarcity necessitates a greater understanding of future applications and emerging science. Future efforts will update data presented in this report and be expanded to include other energy storage technologies. This data-driven assessment of the current status of energy storage markets is essential to track progress toward the goals described in the Energy Storage Grand Challenge and inform the decision-making of a broad range of stakeholders. At the same time, gaps identified through the development of this report can point to areas where further data collection and analysis could provide an even greater level of understanding of the full range of markets and technologies. Finally, numerous complementary analyses are planned, underway, or completed that will provide a deeper understanding of the specific technologies and markets covered at a high-level in this report.