Grid-Scale Energy Storage in North America 2013: Applications, Technologies and Suppliers Chet Lyons, Consultant

We are now entering the early growth stages of what will surely become a giant global industry - energy storage - which will both support and compete with conventional generation, transmission and distribution resources. The evolution of the industry will lead to new business models and the creation of new companies that make, apply and operate storage assets to help the grid work more reliably and cost-effectively, while decreasing unwanted environmental impacts. While in North America right now most grid-scale applications lack the right mix of regulatory support, costs, revenues and other attributes to be economically viable opportunities, some applications can and will generate an attractive return on investment today and represent a sizable and accessible market. These applications include frequency regulation, T&D deferral and/or substitution, renewable integration, and building energy management (BEM). At just over 300 pages, this comprehensive new report pinpoints the most promising energy storage applications, geographic markets and market segments, and discusses the best business models and competitive strategies. The report also profiles over 150 companies that are active in the North American storage industry, including 25 that are particularly well positioned to succeed.

Leaders (15 of 25)

Innovators (15 of 72)

Seekers (15 of 22)

Supporters (15 of 18)

Disruptors (15 of 22)

Source: GTM Research

Table Of Contents
1. Executive Summary 2. Introduction and Overview
2.1 Why This Report? 2.2 What is in This Report and How to Use it 7.6 Foreign Markets 7.7 Safety and Environmental Concerns 7.8 Impact of Natural Gas Pricing 7.9 Disruptive Technologies 7.10 Project Financing

12. Strategy Principles and Avoiding Common Failure Patterns

12.1 Deliver Total Customer Value 12.2 Adapt to Long Project and Sales Lead Times 12.3 Make Technologies and Companies Bankable 12.4 Avoid the Trap of Multiple Value Streams 12.5 Focus on Applications with Proven Market Demand 12.6 Use Partners to Deploy in Multiple Markets 12.7 Rethink Approaches to Capital Formation

3. Key Lessons Learned

3.1 Whats Working 3.2 What Isnt Working 3.3 What CEOs Think About Key Issues 3.4 The Best Grid-Scale Storage Applications 3.5 The Most Promising Markets and Segments 3.6 Business Strategies That Can Win 3.7 Market Predictions 3.8 Game Changers 3.9 Summary and Recommendations

8. The Best Grid-Scale Energy Storage Applications

8.1 Fast Response Frequency Regulation 8.2 Renewables Energy Balancing for Grid Stability 8.3 Transmission and Distribution Deferral/ Substitution 8.4 Peak Power Substitution 8.5 Building Energy Management

13. The Future of The Energy Storage Industry

13.1 Emerging Grid-Scale Applications 13.2 Disruptive Technologies

9. The Best Geographic Markets and Segments

9.1 Organized RTOs/ISOs 9.2California 99.3Texas 9.4 Islands and Small and/or Weak Grids 9.5 Municipal Utilities and Cooperatives 9.6 Federal and State Government 9.7 Military Microgrids

14. Industry Segmentation

14.1 GTM Researchs Categorization of Industry Players 14.2 Classic Segmentation View of Players 14.3 25 Companies Well Positioned for Success

4. Regulatory and Public Policy Market Drivers

4.1 Regulatory Reform is Key to Large-Scale Market Demand 4.2 FERC Regulations 4.3 State Policy and Legislation 4.4 Federal Policy and Legislation

15. Company Profiles

15.1Leaders 15.2Innovators 15.3Seekers 15.4Disruptors 15.5Supporters

5. Other Industry Market Drivers

5.1 Renewables Integration 5.2 Improved Cost Performance 5.3 Understanding of Storage Benefits is Improving 5.4 Industry Lobbying and Education

10. Case Study on Beacon Power Corporation

10.1Overview 10.2 Events that Led to Beacons Bankruptcy and Sale 10.3 Was the DOEs Investment in Beacon in the National Interest?

16. Appendix
16.1 Storage Applications Overview 16.2 Storage Technologies Overview 16.3 History of Beacon Power Corporation 16.4 Index of Companies by Industry Segment 16.5 Index of Storage Companies by Technology Type 16.6 Comprehensive Index of 150 Companies (Alphabetical List) 16.7 Industry Associations 16.8 Department Of Energy 16.9 Key State and Municipal Agencies 16.10 Utility and Related Organizations 16.11 Federal Energy Regulatory Commission 16.12 North American Electric Reliability Corporation 16.13 The Essential Grid-Scale Energy Storage Library 16.14Acronyms 16.15 Other Resources

6. Market and Industry Constraints

6.1 More Regulatory Push Needed to Create Market Demand 6.2 Balance Sheets Will Play a Defining Role 6.3 Project Financing for Grid-Scale Storage 6.4 Fragmented Regulations Increase Market Entry Costs 6.5 Utility Industry Culture 6.6 Manufacturing Capacity Shortage

11. Business Strategies That Can Win

11.1 Be a Low-Cost Provider 11.2 Pursue Niche Applications and Markets 11.3 Deliver Safety as A Defining Differentiator 11.4 Bring Project Financing Into the Picture 11.5 Become A Merchant Project Developer 11.6 Enter Fast-Growth Markets Early 11.7 Leverage Niche Distribution Channels 11.8 Be Disruptive 11.9 Recruit Corporate Strategic Partners 11.10 Deploy Internationally 11.11 Transitional Strategies 11.12 Fast Follower Market Entry

7. What Storage Company CEOs Think About Key Issues

7.1 Cost of Storage 7.2 The Future of Li-Ion Batteries 7.3 Power Versus Energy Applications 7.4 Regulatory and Policy Intervention 7.5 Transitional Business Strategies

Companies Covered

1Energy Systems 24M A123 Systems ABB AES Energy Storage Altairnano Amber Kinetics Ambri American Electric Power American Vanadium Amprius Apex Compressed Air Energy Storage Aquion Arista Power Arizona Public Service Ashlawn Energy Axion Power International BASF Beacon Power Beckett Energy Systems Black & Veatch Boeing Research and Technology Bosch Energy Storage Solutions Braemar Energy Ventures Bright Energy Storage Technologies BYD America C&D Technologies CALMAC Cellstrom-Gildemeister Chevron Technology Ventures Chrysalix Energy Venture Capital City University of New York Energy Institute CODA Energy Con Edison Convergent Energy + Power Corvus Energy Cubit Power Systems Dayton T. Brown, Inc. Deeya Energy Demand Energy Dow Kokam Dresser-Rand Duke Energy Renewables Dynapower EaglePicher Technologies East Penn Manufacturing Eaton Corporation eCamion Edison International

Electrovaya EnerDel Energy Cache Energy Strategies Group Energy Technology Ventures EnerSys EnerVault EnStorage Eos Energy Storage Exergonix Fiamm Energy Storage Solutions Flextronics Energy Fluidic Energy Foresight Renewables Solutions Gaelectric GE Transportation General Compression Google.org Gravity Power Greensmith Energy Management Systems Growing Energy Labs, Inc. (GELI) Halotechnics Highview Power Storage Hitachi Maxell IBM Ice Energy Intertek Ionex Energy Storage Systems Isentropic Johnson Controls Power Solutions Khosla Ventures Kleiner Perkins Caufield & Byers Kokam Co., Ltd. Ktech Corporation LeChase Construction LG Chem, Ltd. LightSail Energy Long Island Power Authority Megawatt Storage Farms National Grid NAVITASMAX NextEra Energy Resources NGK Insulators Northern Power Systems NRG Energy NRstor OBrien & Gere Pacific Gas & Electric Panasonic / Sanyo

Parker Hannifin Pellion PolyPlus Battery Co. Power Tree Corp. Presidio Venture Partners Primus Power Princeton Power Prudent Energy Public Service Corporation of New Mexico QuantumScape RedFlow RES Americas RockPort Capital Partners S&C Electric Saft America Samsung Energy Solutions San Diego Gas & Electric Schneider Electric Seeo Sharp Laboratories of America Siemens Silent Power Sion Power Corporation Solar Grid Storage SolarCity Sony Corporation of America Southern California Edison Starwood Energy Group Global Steffes Stem Sumitomo Corp. of America SunEdison Sunverge Energy SuperPower SustainX TAS Energy Temporal Power Third Power (formerly Triple Point Energy) Toshiba International Corporation UniEnergy Technologies United Technologies Urban Electric Power Valence Technology VantagePoint Capital Partners Viridity Energy ViZn Energy Systems (formerly Zinc Air) VYCON Xtreme Power ZBB Energy Corporation

Grid-Scale Energy Storage in North America 2013: Applications, Technologies and Suppliers Chet Lyons, Consultant
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