Global Residential Battery Energy Storage Growth Opportunities

November 2021 •
74 pages •
Report ID: 6192541 •
Format: PDF

Summary
Table of contents

The residential battery storage market will continue its recent trajectory of strong growth, with global revenues increasing from $3.05 billion in 2021 to reach $8.11 billion in 2030. High electricity prices, declines in feed-in tariffs and net metering payments, and continued declines in lithium-ion battery prices and associated components are the key drivers. These drivers help create a viable business case for battery energy storage, particularly for households acquiring new systems, where solar + storage propositions are increasingly common. Advanced digital-based value propositions will also become important in the coming years. This allows for value-added functionalities such as electricity aggregation and trade from residential battery cloud-based communities (known as virtual power plants) to the grid under balancing markets for ancillary services. All of these bring additional revenues for householders and solution providers. The additional revenue streams for solution providers also enable them to provide different financing models, aside from direct purchase, such as leasing or as-a-service outcome-based contracts. Germany, the United States, and Japan—key markets in 2021—will remain key markets in 2030 and joined by Australia, South Korea, and China. In Europe, Italy, the United Kingdom, Spain, and Austria will see significant growth. LG Chem, sonnen, Tesla, and BYD are the leading solution providers in the market. Beyond that are over 20 solutions providers that have a strong presence in a few key country markets. As players look to achieve scale, there will likely be some consolidation within the market in the longer term. Partnerships with utilities and automotive companies will be key to future success as electricity and mobility become the same ecosystem.

Ahmad helps you find the right report:

+1 718 618 4302
Contact by email

FAQ

Testimonials

The market research advisor answered my questions quickly and professionally. ReportBuyer's team did their best to ensure that I felt comfortable before making the investment to purchase the report.

Cristian Nunez

Director of Corporate Development Chugach Alaska Corporation

My overall experience with ReportBuyer today has been very positive, and I must thank you for your patience (...). Also, the sample you sent me and the explanations provided were very helpful.

D. Lescuyer

Executive Vice President Oral Business at Skyepharma

The research specialist was very helpful, and proposed the best content for my needs. ReportBuyer also offered a great follow-up, thanks for everything !

P. Thompson

EMEA Managing Director

We were satisfied with the support that ReportBuyer's team provided. Thanks to their recommendations, the report we purchased provided exactly what we want.

Y. Wang

Business Analyst

We didn't have time to do the research internally, and thanks to ReportBuyer's team we were able to find the appropriate data.

S. Chen

Research Coordinator

I was impressed by the customer service: it was fast, responsive, and 100% professional !

D. Krivan

Market Research Analyst

The research specialist provided prompt and helpful service. He also followed up to ensure I had all the information to deliver my business development plan.

C. Adams

Senior Business Development Manager