Global Residential Battery Energy Storage Market Report 2018 – Forecast to 2022 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The "Global
Residential Battery Energy Storage Market, Forecast to 2022"
report has been added to ResearchAndMarkets.com's
offering.

The residential battery storage market is expected to show enormous
growth over the period of 2016 to 2022, from a market of USD744 million
in 2016 to USD3.6 billion by 2022.

The market is being spurred on by feed-in tariff and net metering
revisions in historic residential PV hotspots, subsidies and tax
incentives, rapid price reductions in lithium-ion battery prices, and
rising electricity tariffs. This is resulting in a shift from policy
driven markets for solar power grid trade to self-consumption driven
markets.

Increasing the business case for such systems, at a time where system
prices are still beyond customer acceptance levels for broad based
adoption, is an increase in digital integration into these systems. This
is allowing for value added functionalities such as electricity
aggregation and trade from residential battery cloud based communities,
or virtual power plants (VPPS), to the grid under balancing markets for
ancillary services.

Furthermore, the availability of residential storage increases the
attractiveness for customers to enter the demand response market through
similar aggregators, further increasing the value stack. Such
functionalities allows for the opening up of income streams to customers
as well as allowing suppliers to offer system financing support, such as
reduced or zero down payment loan, lease or power purchase agreement
(PPA) models.

Significant reductions in upfront costs to customers through such
models, combined with the provision of income streams, cost savings
achieved through self-consumption, additional cost saving benefits when
combined with electric vehicles, and the benefits of a reliable, green
energy supply to customers is expected to drive this market forward,
even before system price reductions have reached levels seen as
acceptable for broad based adoption.

Germany and Japan currently represent the largest markets for
residential storage by a significant margin, but considering the above
drivers, the market is expected to diversify significantly, with the US
and Australia representing the two largest break-out markets and other
European markets of Italy and the UK to show significant growth.

Key Issues Addressed

• Where is the opportunity and what are the key levers for growth?
• What are the presiding policies influencing the market by country?
• What are the developing business models?
• What is the structure of the distribution channel and who are the key
  players?
• Who are the key suppliers, what are their market shares and what are
  their products?

For more information about this report visit https://www.researchandmarkets.com/research/nnd4q5/global?w=4

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Related
Topics: Battery
Technology, Energy
Storage