Market Overview

Navigant Research Report Shows Asia Pacific, Western Europe, and North America are Expected to Account for Nearly 90% of the Global Energy Storage for EV Charging Market Through 2027

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Energy storage for EV charging provides many benefits to the
greater EV charging market, including reduced demand charges and
improved grid stability

A new report from Navigant
Research
examines the global market for EV charging, providing
market forecasts segmented by charger location, charger power level,
technology, and region, extending through 2027.

As energy storage becomes a key technology for front-of-the-meter and
behind-the-meter applications, grid operators, commercial business
owners, and homeowners are increasingly looking to storage solutions
like energy storage for EV charging (ESEV) to help mitigate electricity
reliability and cost issues. Click
to tweet
: According to a new report from @NavigantRSRCH,
Asia Pacific, Western Europe, and North America are expected to account
for nearly 90% of the global energy storage for EV charging market power
capacity through 2027.

"Navigant Research believes several different solutions can address the
peak demand of EVs and the associated charging issues, including EV
charging strategies that contain the impact on the grid and the
deployment of smart grid technologies like distributed generation, smart
monitoring systems, and especially energy storage," says Ian McClenny,
research analyst for Navigant. "In addition, ESEV systems represent a
solution to common problems EV customers face—cost and power supply
issues in the form of harmonic currents and poor power factors because
of non-linear charging equipment."

According to the report, energy storage plays a fundamental role to the
smart grid and the integration of the new power systems related to
future EV charging stations. Navigant Research found the numerous
benefits to the greater EV charging market provided by ESEV, including:
reduced demand charges to customers, decreased charging times, reduction
in customer range anxiety, a better business case for EV owners and
charging station operators, improvement in grid stability, and reduction
in carbon footprint for all parties involved.

This report, Energy
Storage for EV Charging
, examines the EV charging market, how
energy storage can play a vital role, and key technology considerations
that will drive this industry forward. The study analyzes the market
issues, including market segmentation and the supply chain, associated
with energy storage-enabled EV chargers. Global market forecasts,
segmented by charger location, charger power level, technology, and
region, extend through 2027. The report also examines the architectures
related to ESEV, as well as how EV charging companies are teaming up
with energy storage developers to learn how to integrate and monetize
energy storage systems. An Executive Summary of the report is available
for free download on the Navigant
Research website
.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team's research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant's
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant's
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report,
Energy Storage for EV Charging, is a summary and reflects
Navigant Research's current expectations based on market data and trend
analysis. Market predictions and expectations are inherently uncertain
and actual results may differ materially from those contained in this
press release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report's
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

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