Copper Development Association, United States
pp. 295 - 298
Keywords: energy, grid technology, copper, electrical transmission
The future U.S. market for grid energy storage continues to grow making the associated copper demand for storage applications robust, according to a study commissioned by the Copper Development Association (CDA). There is a tremendous potential for growth in this sector because it has been fueled by investments and governmental policies, and a need to stabilize peak load times. Copper’s superior electrical conductivity makes it the material of choice to ensure safe, reliable and efficient transmission of electricity in all energy markets and grid technologies. According to industry analysts forecast, the global market for energy storage could be upward of 300 GW in size and $200–$600 billion in value over the next 10 to 20 years. Some of the most promising grid energy storage applications – ancillary services, renewable energy integration, transmission support and community energy services – could reach between two to four gigawatts in size by next year.