LYON, France – March 11, 2016: We need to develop innovative technologies for batteries to answer growing EV/HEV market demand and to fully exploit renewable energy generation. Batteries will increasingly be part of our daily life. Batteries, power electronic devices, photovoltaic and wind systems, energy management and electricity supply – all these market segments are connected. Yole Développement (Yole), the “More than Moore” market research and strategy consulting company, follows the battery industry’s progress every day. But not only this – its expertise spans numerous industrial fields including compound semiconductors, power electronics, photovoltaics and more. Consequently Yole analyzes technical and market trends and identifies the synergies between different sectors.
How do EV/HEVs drive battery technology development? How will battery energy storage impact renewable energies deployment? How can batteries create themselves a “second life”? Is the idea of an electric vehicle as a source of electricity for a home a dream or reality? Yole will be providing an insight into these synergies and battery applications trends at Energy Storage Europe 2016 event, on March 16 in Dusseldorf, Germany.
Batteries are clearly at the heart of this story and the EV/HEV market segment is its closest ally. The annual demand for EV/HEV batteries will reach about 250 GWh by 2023 (Source: Energy Management for smart grid, cities and buildings: opportunities for battery electricity storage solutions, Yole Développement, May 2015). This figure shows the growing level of business opportunities for existing and new battery makers. Equally, there are numerous R&D investments exploring disruptive battery technologies. What will happen?
- Because of increasing demand coming from the EV/HEV sector, battery manufacturers will increase their production capacities. In parallel, because of the high volumes specific to the automotive sector, battery manufacturing costs will therefore decrease.
- To address this growing demand, industrial companies will develop their R&D activities to produce more efficient and cheaper batteries. These innovative solutions will then be available for new market segments, such as energy storage for renewable energy systems, including wind and PV systems.
PV and wind now account for a high percentage of electricity generation in several countries. To illustrate this trend, we can look at PV inverters, which is the most important power electronics element in PV installations. PV inverter demand should reach 93.3 GW by 2021, announces Yole’s Senior Analyst, Dr Milan Rosina.
Within these markets, players are looking for solutions to stabilize electricity grids. Batteries could be the right answer. Clearly, the deployment of new renewable energy installations will be strongly linked to the development of battery-based solutions. (Source: Opportunities for power electronics in renewable electricity generation, Yole Développement, January 2016).
And the story does not stop here. In a global approach, battery manufacturers and their partners explore new concepts to use BEVs and PHEVs as energy storage systems. Named “V2X” , this approach is an important part of global energy management thinking. It includes numerous applications such as vehicle-to-grid (V2G), vehicle-to-vehicle (V2V), vehicle-to-home (V2H) and more. This concept is in development but lot of governments and industrial companies are involved and solutions could be on the market soon.
Stationary batteries are also being considered. However, creating a second life for each battery will reduce the environmental impact of EV/HEV and make so electric mobility even “greener”.
Dr Milan Rosina from Yole will participate at the Energy Storage Europe 2016 event (March 15-17 in Dusseldorf, Germany) and will present the status of the battery market today, with a special focus on the EV/HEV market segment. His presentation, entitled “How EV/HEV drives battery technology development” takes place on March 16 at 1:30 PM.
Combining his technical expertise and his knowledge of the energy management and photovoltaic/wind industries, Yole’s analyst invites you to discover the synergies between several markets: batteries, power electronics, energy management, EV/HEV, photovoltaics and wind.
Discover an overview of this growing industry and the latest technology innovations. Register today and attend Dr Rosina’s presentation at Energy Storage Europe 2016.
EV/HEV : Electric Vehicle / Hybrid Electric Vehicle
BEVs and PHEVs : Battery Electric Vehicles and Plug-in Hybrid Electric Vehicles V2X : Vehicle to Everything
About Energy Storage Europe 2016:
About the trade fair as well as the ESE and IRES conferences
Energy Storage Europe 2016 is the trade fair with the world’s largest conference program on energy storage. The conference consists of the 5th Energy Storage Conference (ESE) and the 10th International Renewable Energy Storage Conference (IRES 2016). The focuses are economy and finance (ESE) as well as science and social policy (IRES). The 5th OTTI-Conference Power-to-Gas and 9th Storage Day side events are taking place at the same time at the exhibition centre in Düsseldorf. From 15 to 17 March 2016, a total of 140 exhibitors and 3,000 participants from more than 45 countries are expected. More information on www.energy-storage-online.com
About Opportunities for Power Electronics in Renewable Electricity Generation report: