Fluence, Nidec ASI, Tesla and RES are the leading players in the increasingly competitive utility-scale energy storage market, according to a new report from Navigant Research. These leaders are “actively pushing the boundaries” of how energy storage is viewed in the industry and are working to open new markets.
But companies that are currently trailing the leaders are also well-positioned to capitalize on new markets and project opportunities, Navigant says. Dramatic growth is expected in the market, and all players covered in the report are positioned to be successful as the market grows, according to the research. However, some are more likely to thrive as they build on the strong foundation and capitalize on complementary offerings, including ESS hardware and renewable energy project development.
The report, Navigant Research Leaderboard: Utility-Scale Energy Storage Systems Integrators, compares the strategy and execution of 12 leading ESSIs focused on the utility-scale market. These companies are rated on 12 criteria, including vision, go-to-market strategy, partners, production strategy, technology, geographic reach, sales/marketing/distribution, product performance, product quality and reliability, product portfolio, pricing, and staying power.
Moving Past Project Development to Integrated Solutions
The utility-scale energy storage market has grown increasingly competitive since 2016 as projects become economically viable for a range of new applications in new geographies. As the market matures and expands, the role of energy storage systems integrators (ESSIs) such as Fluence and others has become the most important element in the value chain when it comes to ensuring successfully built and profitable energy storage systems.
Companies in the ESSI space are moving beyond simply providing project development services to offering integrated hardware and software solutions for a range of ESS customers. These companies are responsible for both the design and management of an energy storage project, typically using robust software and controls platforms to maximize the value of a project both to the grid and to the system owners.
While there are several competing utility-scale energy storage technologies with differing characteristics matched for certain applications, battery ESSs are emerging as the leading technology globally for new projects.
In addition to the leading players in the market, the Navigant Report looks at “contenders” – including Powin Energy, Greensmith, LG CNS, NEC Energy Solutions, and NextEra Energy Resources – “challengers,” and “followers.”