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The Financial Boom of the Energy Storage Device

By Ezra Drissman

Republish: EasyPublish™ Published: 05Mar2010 Word count: 408 Viewed: 254 time(s) Get Free Content For Your Site

For the purpose of defining the genre: energy storage devices include flywheel energy storage systems (FES) capacitors, batteries, fuel cells, compresses air energy storage systems and others. Of these, the FES, capacitors and super conducting magnetic energy storage (SMES) systems hold the largest market shares. The market can further be divided, especially in the field of capacitor technology with the market bearing figures from both the mature (already in use technologies) and the emerging (theory, planned, or in testing technologies).

Marketing reports have stated that the energy storage device field was a booming one with the total growth and financial gains of the industry expected to reach over twelve billion dollars by the end of the decade. With an expected annual growth rate of just under six percent at the time of the released report, the energy storage device industry was expected to continually grow with capacitors, super capacitors and ultra capacitors leading the way. This sector of the industry was expected at the time to see the biggest positive changes. The second largest segment of the industry was the FES.

Like the capacitor market, the flywheel energy storage system market can be divided by two different sectors: the high speed and the low speed flywheel system. Of them, the high speed devices are seeing the briskest sales with the predominant driving factor of the FES market being in the field of uninterruptible power supplies. Other markets have potential growth for this market as well.

SMES is primarily used by the utilities market, making it a small but continually growing sector of the industry. Because this type of energy storage device is more suitable for new environmental concerns and regulations it is gaining more and more attention and gaining funding in the meantime.

One of the huge causes of the financial boom is the need to move away from the old and existing forms of energy storage devices that are already in use. Many of them are faulty, unreliable and may contain hazardous materials. The newer devices may not be as economical at the outset, but they are typically easy to manage and maintain, cheaper to operate, capable of more and safer energy storage and make use of safer and cleaner types of materials as well. With new developments being tested and proven every day, new energy storage devices will continue to create the financial boom as well as safer energy that the economy and the environment need.

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