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As the global energy storage industry continues to grow and innovate, PCS are emerging as a key technology to facilitate widespread grid integration. This is especially represented in the Asia Pacific region, which is home to the largest and fastest growing markets for energy storage. According to a new report from @NavigantRSRCH, Asia Pacific region is expected to hold 43.2% of the PCS cumulative global market through 2027.
“Although Asia Pacific is expected to control a large global share of the PCS market, North America and Western Europe will also see a high total capacity for new energy storage and large market for PCS revenue,” says Alex Eller, senior research analyst with Navigant. “In addition, a much greater portion of Western Europe’s energy storage capacity is expected to come from distributed systems with higher price points.”
According to the report, leading markets for distributed energy resources (DER) are a large driver of improvements to PCS technology, where regulation is moving to require smart inverters for DER in general. While many PCS are being implemented by companies around the world, several new technological innovations have been introduced to the industry, including smart islanding, backup power, lower costs based on modern materials and designs, and automated backup support.
