Market

The global energy market is projected to grow by over two-thirds within the next three decades.

The global electricity market will be forced to spend over $10 trillion on infrastructure within the next three decades to expand supply capacity in a bid to meet demand.

The energy sector will have to compete with other sectors of the economy for capital in times when the world’s capital needs are far greater than ever before - making it even more critical to find a low cost solution to long term infrastructure and supply challenges.

The environmental consequences of global warming from the greenhouse effect means that a greater proportion of electricity will need to be generated from clean renewable sources.

The Lloyd Energy Storage Technology is able to make a major contribution to addressing those challanges. It will do this by reducing the cost of new infastructure through better utilisation of, and extending the life of, existing assets, as well as facilitating a more rapid uptake of renewable energy.

The market for energy storage can be broadly categorised into grid and off-grid applications. Grid applications for energy storage have the ability to save utilities millions of dollars by scheduling transmission upgrades more effectively. Energy storage also gives consumers the ability and benefit of using lower cost energy at times of high prices. Off grid applications, where power is typically generated by Diesel Gensets, are a standout case for the environment. In this application energy storage is used to store renewable energy and makes it available when required.