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Novel business models create opportunities for the growth of additional revenue streams, noted Frost & Sullivan’s Energy & Environment team.
“Battery manufacturers are working toward providing modular, containerized systems that can be easily transported and quickly installed,” said Frost & Sullivan Energy & Environment Principal Consultant Suchitra Sriram.
“These modular systems will also be able to withstand higher temperatures and work under extreme physical conditions. Moreover, manufacturers are acknowledging the need to offer modularity in terms of battery sizing to meet diverse application needs,” she added.
Battery Energy Storage Systems for Grid Applications in Asia-Pacific, Forecast to 2021 is part of Frost & Sullivan’s Energy Storage Growth Partnership Subscription. The key objective of the study is to understand the dynamics of the utility-scale, grid-connected BESS market for utility application. The study covers the geographic markets of India, China, Southeast Asia (Vietnam, Indonesia, Thailand, Malaysia, the Philippines, Singapore, Myanmar), East Asia (Japan, Taiwan, South Korea) and Australia-New Zealand.
Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan’s thought leaders.
The most successful companies in the Asia-Pacific BESS market are those with a strong local presence. Battery manufacturers are finding increasing value in partnering with System Integrators (SIs) all along the value chain in order to entrench themselves in the market and offer robust value to clients. As SIs act as a bridge between utilities and vendors, these partnerships are inevitable and help vendors establish a direct relationship with utilities.
Over the next three to five years, the markets with the biggest opportunities in BESS utility-scale projects are likely to be China, Japan, South Korea and Australia. The application scope of BESS across these markets is as follows:
“Next-generation business models will redefine business propositions and influence future technology and product development. For instance, an emerging business model is one in which private parties own the energy storage system and offer services to transmission and distribution companies,” noted Sriram.
“Virtual power plants are another key model for OEMs in Asia-Pacific, while many others are working on providing additional revenue streams that increase utilities’ net present value (NPV) over time,” she added.