Flywheel Energy Storage System Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Drivers:

• Supportive government policies for the United States towards energy storage technologies
• Increasing need for uninterrupted power supply in multiple sectors
• Rising demand for grid flexibility and reliability
• Growing need to optimize renewable energy asset utilization
• Increasing need for faster ramp rates with much greater efficiency than traditional generation methods

Flywheel Energy Storage Systems:

Flywheel energy storage system consists of carbon fiber rotor, frictionless magnetic bearings, motor/generator, frictionless enclosure, and advanced electronics that operate the entire system, switching between charge and discharge mode.

A flywheel is a rotating mass that stores kinetic energy as a mechanical battery. The amount of energy stored in an FES system is primarily determined by the rotor's moment of inertia (weight) and rotational speed. When surplus energy exists, the motor/generator draws power, spinning the rotor faster to a higher velocity to store energy. When energy is required again, the rotor's inertia drives the motor-generator, slowing the rotor and producing electricity.

Single flywheel modules connect like building blocks to create a flywheel energy storage system of any size, from 100 kW to multi-MW power plants.

Flywheels have a short duration of around 15 minutes, making them perfect for applications that require only a brief period of use or as backup power to bridge the gap between the grid and larger backup sources.

Flywheels are ideal for power-oriented applications that require many charging and discharging cycles.

Advantages:

• The steadier operation reduces generator wear and tear and associated system operation and maintenance costs.
• Charge and discharge rates are symmetrical, unlike some other technologies, which means the units recharge as quickly as they discharge, boosting their operating efficiency
• The lifetime cost of a flywheel storage system is much lower than competitor systems, with a lifespan of over 20 years in high-cycle applications
• Flywheel storage manages short-term fluctuations and extends the life of other balancing assets.
• Maximizes Replacement of fossil fuel energy generation with renewable energy sources
• When compared to electrochemical storage, they can run for a long time (up to 1 million cycles) without experiencing any adverse effects

Restraints:

• The limited number of applications due to its short duration limits the amount of investment in this category
• High energy installation cost when compared to other energy storage technologies

Recent developments:

• On October 25, 2021, Active Power began its USA Tour to bring its containerized POWERHOUSE UPS to users' doorsteps. Through this, they would like to exhibit how efficiently the POWERHOUSE can be transported, connected to standby generators, and online within hours at any desired site
• In 2021, The French start-up Energiestro developed a concrete flywheel to store solar energy innovatively. Currently being tested in France, the storage solution will be initially offered in France's overseas territories and Africa
• On April 10, 2020, the China Energy Storage Alliance (CNESA) released China's first group standard for flywheel energy storage systems, General technical requirements for flywheel energy storage systems."

Opportunities:

• Significant growth potential in markets like the United States, Europe, Asia, and the UK as critical backup power for data centers and hospitals
• Microgrids

Publisher's Global Flywheel Energy Storage systems (FESS) Market report provides insights into the current global and regional Global market demand scenario and its outlook.

This study offers a detailed analysis of various factors instrumental in affecting the Global Flywheel Energy Storage systems market's growth. The study also comprehensively analyses the market based on geography (North America, Europe, Asia-Pacific, and the Rest of the world).

This report also includes the latest market trends, drivers and restraints, present and future opportunities, new projects, the global impact of Covid-19 on the Global Flywheel Energy Storage systems market, and significant developments.

Further, the report will also provide Global Flywheel Energy Storage systems market size, demand forecast, and key competitors in the market.


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