Global Electric Power Generation Transmission And Distribution Market

Electric Power Generation, Transmission, And Distribution Global Market Forecast To 2022

Asia Pacific was the largest region in the global electric power generation, transmission, and distribution market, accounting for 45% of the market in 2018. Western Europe was the second largest region accounting for 22% of the global electric power generation, transmission, and distribution market. Africa was the smallest region in the global electric power generation, transmission, and distribution market.

Electric power generation companies are increasingly using batteries to store solar energy during daylight hours. These energy-storage sites consist of large lithium-ion batteries. These batteries store enough energy to serve as a back-up in case of fuel shortages. They are designed to absorb solar power and feed it back to the grid. These systems minimize the need for capital intensive power generation plants, thereby enhancing transmission and distribution efficiencies and thus reduce operational costs. For example, San Diego Gas & Electric operations center has installed energy-storage systems with big batteries to store electric power. Arizona Public Service Co. has installed a USD 2 million battery system in Phoenix to store energy. In 2016, lithium-ion battery prices fell by 70% and are expected to shrink further in future, thus driving their use in power grids.

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