Grid energy storage market to hit 4 GW by 2016, says KEMA
The projected increase in the U.S. market for grid energy storage devices could result in an increase in the demand for copper over the next five years
Burlington, Mass., February 15, 2012 — The projected increase in the U.S. market for grid energy storage devices could result in an increase in the demand for copper over the next five years.
This is according to a market study by leading global energy consulting, testing and certification firm KEMA, conducted for the Copper Development Association, Inc.
The future U.S. grid energy storage market value is forecasted to reach between two and 4 GW in size by 2016. This forecast is based on KEMA's analysis of today's most promising grid energy storage applications, which include ancillary services, renewable energy integration, transmission support and community energy services.
KEMA estimates that the incremental demand in copper due to growth in the U.S. grid storage market over the next five years could reach from roughly 900 to over 3,000 tons of copper.
The recently released study also concludes that the copper intensity of storage installations appears to be significant though varied, ranging from zero to over four tons per megawatt. The copper intensity depends on the installation configuration, type of electrical equipment, and storage technology type.