Flywheel Energy Storage Market Increasing Due to Investment in Smart Grid Construction

Author:Companies and Markets     Source:Companies and Markets     Click:500     Publish time:2013/1/11 14:27:32

The flywheel energy storage market has been forecast to rise at a compound annual growth rate (CAGR) of 12.35% through to 2015, driven by the increasing investment in smart grid construction and the increasing investment in energy storage technology.

Flywheel energy storage (FES) works by accelerating a rotor (flywheel) to a very high speed and maintaining the energy in the system as rotational energy. When energy is extracted from the system, the flywheel's rotational speed is reduced as a consequence of the principle of conservation of energy; adding energy to the system correspondingly results in an increase in the speed of the flywheel.

It is predicted that by 2035 global energy demand will increase tremendously, but energy consumption patterns are likely to vary in each country. The current demand for energy is expected to be more than double globally by 2020.

It is not possible to meet the future demand with the existing power generation capacity. Therefore the storage of energy will help to maintain a backup to cater to high future demand. Large-scale grid energy storage systems will meet this need and flywheel energy storage systems will enable this grid power storage to take place. Consequently, the growing energy demand will increase growth within the global flywheel energy storage market.

Key players currently dominating the flywheel energy storage market include Active Power Inc., Amber Kinetics Inc., Beacon Power LLC, and VYCON Inc.

For more information on the flywheel energy storage market, see the latest research: Flywheel Energy Storage Market

Keywords:Flywheel Energy Storage Market Increasing Due to Investment in Smart Grid Construction
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