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Upper Lake, CA, United States, 2012/08/20 - According to ElectroniCast, the consumption value of LICs in wind power generation is forecast to reach over $150 million in 2021 - ElectroniCastConsultants.com.
ElectroniCast Consultants, a leading market & technology forecast consultancy, today announced their market forecast of the worldwide consumption of lithium-ion capacitors (LICs) used in wind power (wind turbines) generation.
ElectroniCast estimates that in 2011, the worldwide consumption value of lithium-ion capacitors used in wind power generation applications was less than $1 million. From 2016-2021, the total consumption value is forecast an increase nearly 80 percent per year, reaching over $150 million in the year 2021. Market forecast data in this study report refers to consumption for a particular calendar year; therefore, this data is not cumulative data.
A capacitor is an electrical device that stores or releases electricity through rapid electrostatic reactions. Compared with a battery that stores electricity through slow chemical reactions, a capacitor makes it possible to charge and discharge electricity almost instantaneously with a long cycle life.
Lithium-Ion Capacitors (LICs) have a higher power density as compared to batteries and they are safer in use than Lithium-Ion Batteries (LIBs), since thermal runaway reactions may occur with LIBs. Compared to an Electric Double-Layer Capacitor (EDLC), the lithium-ion capacitor has a higher output voltage. They both have similar power densities, but energy density of a lithium-ion capacitor is higher.
Wind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity. In relationship to the use of lithium-ion capacitors, this ElectroniCast study deals mostly with small-scale wind power, which is the name given to wind generation systems with the capacity to produce up to 100 kW of electrical power.
The future of the lithium-ion capacitor (LIC) market, despite exciting innovative devices driven by technological advances and ecological/energy-saving concerns, still face challenges in overcoming performance/price limitations and in attracting widespread consumption. The use of LICs in wind power generation applications is increasing, initiating from government-based initiative – then to commercial/business – and eventually to the consumer-level.
The ElectroniCast market forecast of consumption is presented for two major End-User categories: Government/Commercial and Residential/Non-Specific (Other). The Government/ Commercial category is forecast to maintain its market leadership role during the forecast period, with 91% of the worldwide market in 2011 and eventually falling to 73% as Residential/Other applications begin using the (new) solution. There are many different sources of energy (coal, nuclear, natural gas, hydro, oil), therefore, the use of wind turbine-based products, as well as other alternative or renewable energy solutions (naturally replenished) are constantly striving to serve the needs of consumers.