Market Research Report
Residential Energy Storage - Advanced Lead-Acid, Flow, and Li-Ion Batteries for Residential Applications: Global Capacity and Revenue Forecasts
|Published by||Guidehouse Insights (formerly Navigant Research)||Product code||369044|
|Published||Content info||40 Pages; 30 Tables, Charts & Figures
Delivery time: 1-2 business days
|Residential Energy Storage - Advanced Lead-Acid, Flow, and Li-Ion Batteries for Residential Applications: Global Capacity and Revenue Forecasts|
|Published: March 22, 2019||Content info: 40 Pages; 30 Tables, Charts & Figures||
As the behind-the-meter (BTM) distributed energy storage market continues to mature, several factors have propelled residential energy storage systems (RESSs) to the forefront of industry consciousness. These factors include technological progress, legislative and regulatory tailwinds, and new grid challenges associated with intermittent renewable generation. Despite the global RESS market gaining momentum with soaring growth rates in geographies like California, Hawaii, Germany, and Australia, long-standing uncertainties concerning feasible uses and cost-effectiveness remain.
RESSs can be a highly flexible and valuable resource, improving efficiencies for system owners and the power grid. While residential battery storage has grown in select geographies for several years, the market has been driven primarily by early adopters concerned with the environment or self-sufficiency more than economic self-interest. Many utilities see RESSs as an avenue to improve their services and relationships with customers at a time when new technologies are presenting a real risk of load defection. In recognizing these benefits, particularly the ability to reduce congestion on the network and limit the need for peak capacity resources, utilities around the world have launched programs to deploy RESSs.
This Navigant Research report analyzes global and regional drivers behind increased RESS deployments. The study examines utility involvement, cost declines, government incentives, and increased solar PV integration, as well as barriers to deployment. Capacity and revenue forecasts, broken out by region and battery technology, extend through 2028. The report also discusses emerging market participation models that enable continued RESS growth around the world.