Thus, the companies are leveraging high-efficiency lithium-ion batteries coupled with renewable energy such as solar at several sites. Therefore, the telecom tower companies are continuously moving toward energy-efficient solutions, as fuel costs amount to 30% of the telecom towers' operational expenditures. However, unregulated diesel prices and carbon dioxide emissions are acting as barriers to the use of diesel generators. Owing to unstable electrical power, the telecom tower companies are adopting diesel generators, batteries, and other devices, to provide back-up and assure network availability. The stationary energy storage segment includes batteries that find applications in telecom, data centers, UPS, ESS, medical equipment, railroad signaling, diesel generator starting, controls, solar power generation systems, wind power generation systems, and switchgear applications. Stationary Energy Storage as a Significant Segment Moreover, with the rising renewable energy, such as wind and solar, the region is expected to dominate the market during the forecast period. Europe is expected to dominate the market, with the majority of the companies commercializing the battery technology are located in the region. As the sodium-ion battery is an alternative with additional benefits, storing the energy of solar and wind, thus it is expected to have an opportunity with the growing solar and wind energy market. By 2050, solar PV, wind, and hydro, together, are estimated to produce approximately 80% of the global electricity generation. By 2030, solar, along with wind, is expected to produce more than 50% of the total generation in Australia, Germany, Mexico, and the United Kingdom. Wind and solar PV power are expected to drive strong growth in renewable energy, while hydro is likely to remain a key source. The amount of energy generated by renewable sources, such as solar and wind, is increasing, and energy stores are an essential process to ensure continuity of energy supply. Stationary Energy Storage is expected to be the one significant application of the sodium-ion battery. However, the non-matured technology of the battery is expected to hinder the market growth during the forecast period. Uses of sodium-ion batteries for electricity storage, generated through solar or wind create no air pollution. The primary driver of the market is the increasing demand for cleaner energy, with rising greenhouse gas emissions around the world. Sodium-ion battery is expected to be an alternative to the lithium-ion battery for energy storage, as it is much safer to use and is cheaper. The sodium-ion battery market is expected to grow at a CAGR of around 5% during the forecast period.
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