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The international market research institute Reportlinker.
com recently released a residential battery energy storage market research report that the global residential battery energy storage market will reach $3.
6 billion
by 2022.
The report believes that with better market conditions, rapidly decreasing prices and technological innovations, the global residential battery storage market will show an amazing growth rate
by 2022.
Stimulated by feed-in tariffs and net metering revisions, as well as rapid price reductions in battery prices, government subsidies and tax incentives, the residential battery energy storage market will usher in a period
of rapid growth during the forecast period.
Coupled with the falling cost of renewable energy such as photovoltaics and growing environmental awareness, the policy-driven market for global solar grid trading has shifted to a self-consumption-driven market
.
At a time when the price of the system still exceeds the customer's acceptance of broad-based adoption, the business case for increasing such systems is to increase the digital integration
of these systems.
In addition, the availability of residential storage increases the attractiveness for customers to enter the demand-responsive market through similar aggregators, further increasing the value stackup
.
These features allow revenue streams to be opened up to customers and allow vendors to provide system financing support, such as loan, lease, or power purchase agreement (PPA) models
with reduced or zero down payment.
The benefits of significantly reducing upfront costs for customers through such models, combined with providing revenue streams, cost savings through self-consumption, additional cost savings benefits when combined with electric vehicles, and providing customers with a reliable supply of green energy are expected to drive this market forward even before the system price reduction reaches an acceptable level of widespread adoption
.
From a country perspective, Germany and Japan are currently the largest markets for residential battery energy storage, but considering the above factors, the market is expected to diversify significantly, with the United States and Australia expected to be the two largest breakthrough markets, and other European markets such as Italy and the United Kingdom will also grow
significantly during the forecast period.
The international market research institute Reportlinker.
com recently released a residential battery energy storage market research report that the global residential battery energy storage market will reach $3.
6 billion
by 2022.
The report believes that with better market conditions, rapidly decreasing prices and technological innovations, the global residential battery storage market will show an amazing growth rate
by 2022.
Stimulated by feed-in tariffs and net metering revisions, as well as rapid price reductions in battery prices, government subsidies and tax incentives, the residential battery energy storage market will usher in a period
of rapid growth during the forecast period.
Coupled with the falling cost of renewable energy such as photovoltaics and growing environmental awareness, the policy-driven market for global solar grid trading has shifted to a self-consumption-driven market
.
At a time when the price of the system still exceeds the customer's acceptance of broad-based adoption, the business case for increasing such systems is to increase the digital integration
of these systems.
In addition, the availability of residential storage increases the attractiveness for customers to enter the demand-responsive market through similar aggregators, further increasing the value stackup
.
These features allow revenue streams to be opened up to customers and allow vendors to provide system financing support, such as loan, lease, or power purchase agreement (PPA) models
with reduced or zero down payment.
The benefits of significantly reducing upfront costs for customers through such models, combined with providing revenue streams, cost savings through self-consumption, additional cost savings benefits when combined with electric vehicles, and providing customers with a reliable supply of green energy are expected to drive this market forward even before the system price reduction reaches an acceptable level of widespread adoption
.
From a country perspective, Germany and Japan are currently the largest markets for residential battery energy storage, but considering the above factors, the market is expected to diversify significantly, with the United States and Australia expected to be the two largest breakthrough markets, and other European markets such as Italy and the United Kingdom will also grow
significantly during the forecast period.
