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A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines
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The global battery energy storage industry is predicted to have double-digit growth, and this will be driven by both front of the meter and behind the meter applications. Falling battery costs, increased grid modernization initiatives, rapid growth in variable renewable energy generation, participation of battery storage in various wholesale electricity markets, government incentives, and the trend towards self-consumption are driving the demand for battery energy storage systems.Many battery manufacturers are beginning to incorporate energy intelligence into storage systems and are unlocking multiple revenue opportunities by allowing energy storage systems at the customer site to participate in the local energy market. The major growth opportunities can be derived from the residential and the commercial and industrial (C&I) solar storage market, which is poised to accelerate. This is because business models such as community energy trading and energy storage-as-a-service are expected to be the key driving factors.For this research, Frost & Sullivan used a unique and robust platform called Frost Radar to analyze the market and identify Companies to Action (C2A). We analyzed more than 100 companies that fall into the Frost & Sullivan definition of battery energy storage systems and then narrowed this down to 27 companies based on their growth indicators and recent innovations. Frost & Sullivan has evaluated and positioned these 27 companies based on 2 major indices, Growth and Innovation, and each of these indices has 5 criteria.Companies that are positioned in the radar are: LG Chem, Samsung SDI, Tesla, Panasonic, BYD, Sonnen, SMA, Solarwatt, VARTA Storage, Sungrow, Enphase, Younicos, SENEC, RedFlow, Akasol, Kokam, Leclanche, JLM Energy, RedT, Primus Power, Powervault, Moixa, Ecoult, SAFT, NEC, ViZn Energy Systems Inc., and IBC Solar.The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
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