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    Frost & Sullivan Examines Decade of Strong Growth in the Global Energy Storage Market

  • Apr 21, 2021

    Renewable power investment continues to accelerate, driven by a combination of technology and project costs reductions, supportive regulations and growing pressure to decarbonize the power sector. Nonetheless, large-scale penetration of renewables needs additional support to ensure a fully functioning and balanced grid, and battery storage solutions are the perfect fit. Players in the market have effectively refined their offerings to meet the needs of the mainstream market. Residential battery storage systems are equipped with a sleeker design, while commercial and industrial storage solutions can be sized and optimized to meet the specific needs of the customer. Grid-scale solutions are attracting investors looking to maximize returns from the power sector. The total battery energy storage systems (BESS) market is forecast to reach $40 billion annually by 2030, up from $6.5 billion in 2020.

    Frost & Sullivan experts Jonathan Robinson, Energy Research Director, and Maria Benintende, Principal Analyst, invite you to join them for the Growth Opportunity briefing, "Global Energy Storage: How will Decarbonization and Decentralization Accelerate Deployment?," on April 28 at 10 a.m. EST. The session will discuss growth expected to continue throughout the 2020s, changes in market dynamics and key technology trends for the future.

    For more information and to register for the webinar, please visit: http://frost.ly/5id

    Attend this briefing to:

    • Understand how the role of battery storage will evolve within the wider energy ecosystem.
    • Deep dive into the key market metrics, trends, and competitive developments for the residential and grid markets. 
    • Discover the latest status of technology trends within the market; lithium-ion dominates thinking, but alternative technologies are vying for future share.
    • Identify the major growth opportunities for BESS solution providers, investors, utilities, and adjacent OEMs.

    The event will be recorded and available on-demand at http://frost.ly/1ti. 

    About Frost & Sullivan

    For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion

    SOURCE: Frost & Sullivan

  • Industry News

    General Fusion is working with Canadian Nuclear Laboratories in a vital project to advance fusion energy technology. Through this collaboration, General Fusion and Canadian Nuclear Laboratories will develop tritium extraction techniques for use in commercial fusion power plants.

    Hydro One announced the completion of critical upgrades to its Hawthorne Transmission Station (TS), first commissioned more than 60 years ago. By replacing aging infrastructure and energizing five new transformers at the station, these upgrades will help drive economic growth by increasing the amount of available power and improving reliability to the region.

  • Keeping Current

    OUELLET GROUP INC. announces the acquisition of Innovair Corporation, a major supplier of air conditioning and heat pump equipment in Latin America and the United States.

    "This new acquisition allows us to grow further and develop new markets," said Martin Beaulieu, President "It also helps us to consolidate our position as a major player in the North American market while continuing to offer high-quality service and innovative products."

    Owned by the Beaulieu family, with its head office in L’Islet, Quebec, Ouellet Group owns Ouellet Canada in L’Islet, Dettson Industries in Sherbrooke, Hazloc Heaters in Calgary, Nanjing Ouellet – a manufacturing plant located in China – and Britech in Toronto.

    SERVICE WIRE announces that Kerith Richards has been selected as one of tED Magazine’s prestigious “30 Under 35” winners. Kerith represents some of the best and brightest in the electrical industry today.

    A natural born leader, Kerith is an early trailblazer for young women in the electrical industry. She is successfully making a name for herself in this competitive space. She has a very unique dual role at Service Wire as a full-time sales rep in the U.S. Northeast and the regional sales manager for all ten Canadian provinces.

    Kerith has mastered the intricacies of working with international customers—understanding different product nomenclature, codes, and listings to ensure the right product is delivered on time.

    IDEAL INDUSTRIES (CANADA) CORP. National Sales Manager, Sean Bernard announces a new partnership with Resilient Sales Corporation.

    Effective August 1st, 2021, Resilient Sales Corporation, led by its Principal Sean Atkinson, will serve as IDEAL's agency partner for the Northern Ontario region – servicing distributor partners within the region bordered by Bracebridge to the south, Algonquin Park/Quebec border to the east, Timmins to the North and Lake Huron/Lake Superior to the west.

    E.B. HORSMAN & SON announce that its Terrace branch moved down the street to a new building located on 2915 Molitor Street, Terrace on July 12th, 2021.

    The newly constructed 20,000 square foot building was custom-built to replace the 7,200 square foot location on 5000 Pohle Avenue. The building will also offer three commercial spaces for lease to local businesses.

  • Product Showcase

    Hammond Power Solutions (HPS) has a new addition to their line of power quality products – HPS Centurion P Passive Harmonic Filter.

    It is specifically engineered to mitigate harmonic currents created by non-linear loads. The initial product release has ratings from 5 to 500 horsepower. It improves power quality by simultaneously reducing harmonics and improving true power factor, resulting in an efficient and reliable solution.

    Get an easy, flush receptacle installation in new concrete with Arlington's FLB6230MBLR Cover Kit. It fits most manufacturers' 4-1/2" concrete boxes, including Arlington's FLBC4500 and FLBC4502 boxes. This LISTED kit includes a 6" brass cover with flip lids, gaskets, receptacle AND a leveling ring. Also available nickel-plated.

    Click HERE for more information.

    www.aifittings.com

  • Product Safety Alert