As we have seen, there is a rising trend in the installation of both wind and solar PV’s that are leading to the need for advanced energy storage systems. At the same time, governments, cities, and municipalities are calling for more stringent energy efficiency standards, mostly in efforts to reduce greenhouse gas emissions.
As businesses and governments try to improve energy efficiency, they are turning to Building Energy Management Solutions (BEMS). One company providing these services is ICT Solutions that provides smart home, smart office, and city management software that help with advanced monitoring of facilities leading to a reduction in consumption and managing the scheduling of resources using PRT.
According to reports, Advanced Energy Storage Systems in grid storage, transportation, and other industries currently includes CAES, Flow Batteries, lithium ion batteries, PHS, NaS batteries, super capacitors, and more. This market, worth $12.89 billion in 2015, is expected to grow at a compound annual growth rate of 14% to $15.96 billion by 2020 according to Markets and Markets.
Installation of advanced battery energy storage technology is currently in the highest demand in North America while the Asia-Pacific region is increasingly adopting the technology at a rapid rate, with South Korea and China leading the pack. One implementation of this technology in South Korea and China is the building of battery storage plants.
At the heart of these developments is the need for continuous energy solutions, and this will lead to huge growth in thermal energy storage. Businesses across the world are becoming increasingly aware of the benefits of energy management solutions in the face of the seeming inevitability of carbon taxes and tax breaks or other advantages for the implementation of these systems.
The following video from Energonix, “The Smart Energy Storage Technology,” explains more about advanced energy storage solutions.