HIS expects the grid storage project will reach 2GW in 2016, up 20% from the end of 2015,leading by the United States, China and South Korea.
An increasingly significant phenomenon is that, due to significant cost reductions, the advantages of lithium batteries in the electric energy storage relative to the advantages of lead-acid batteries are emerging, and even began to challenge sodium-sulfur batteries and floe batteries in large-scale energy storage in the historical monopoly status.
Lithium market share in the energy storage market has steadily increased, expected to grow from 20% in 2010 to 2016 90%.
HIS statistics show that 90% the tracking of public facilities energy storage projects using the lithium battery technology. Lithium battery cost reduction promote the battery supply chain in automotive and electromagnetic fields.
After years of development, energy storage market competition is intensifying. These companies continue to strengthen energy storage product development ,such as BYD, HS, Samsung SDI, LG Chemical, and Matsushita. For example, in the household sector, the co-sponsored battery system in Australia reached 450 US dollars per kilowatt-hour, which Tesla announced price of 3,000 US dollars / 7 kwh comparable to the system.
Lithium batteries are expanding in the grid-level market applications, while sodium-sulfur batteries and flow battery have occupied this market for years. HIS observed that the grid-class battery delivery price is about 400-500 US dollars per kilowatt-hour in 2016 including the margin and management, and in the next 18 months, there will be 30% of the decline .