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Global Residential Battery Energy Storage Growth Opportunities
Global Residential Battery Energy Storage Growth Opportunities
Higher Electricity Prices, Declining Technology Costs, and Desire for Grid Independence are Factors Driving Market Growth
23-Nov-2021
Global
Description
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.
Key Issues Addressed
- What are the key drivers and restraints impacting future growth in the market?
- What is the forecast growth in key country markets in systems, revenues, and kWh storage?
- What are the market shares of leading players in the market, and how did they achieve their positioning?
- What is the main distribution model for the market?
- What are the key growth opportunities for market participants to secure their place in the future market?
Author: Jonathan Robinson
Table of Contents
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Residential Battery Energy Storage (BES) Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Key Findings
Key Findings (continued)
Residential Battery Energy Storage Market Scope of Analysis
Market Segmentation
Key Competitors
Key Growth Metrics for the Residential Battery Energy Storage Market
Distribution Channel Analysis
Growth Drivers for the Residential Battery Energy Storage Market
Growth Restraints for the Residential Battery Energy Storage Market
Forecast Assumptions
Revenue and System Installations Forecast
Cumulative and Annual Capacity Additions Forecast
Revenue Forecast by Region
System Installations Forecast by Region
Revenue and System Installations Forecast Analysis by Region
Revenue and System Installations Forecast Analysis by Region (continued)
Annual Capacity Additions Forecast by Region
Cumulative Capacity Forecast by Region
Pricing Trends and Forecast Analysis
Competitive Environment
System Installations Market Share of Top Participants
System Installations Market Share Analysis
Key Growth Metrics for the Residential Battery Energy Storage Market—North America
Revenue and System Installations Forecast—North America
Cumulative and Annual Capacity Additions Forecast—North America
Revenue Forecast by Country—North America
System Installations Forecast by Country—North America
Annual Capacity Additions Forecast by Country—North America
Revenue, Systems Installations and Annual Capacity Additions Forecast Analysis by Country—North America
Key Growth Metrics for the Residential Battery Energy Storage Market—Europe
Revenue and System Installations Forecast—Europe
Cumulative and Annual Capacity Additions Forecast—Europe
Revenue Forecast by Country—Europe
System Installations Forecast by Country—Europe
Annual Capacity Additions Forecast by Country—Europe
Revenue, System Installations, and Annual Capacity Additions Forecast Analysis by Country—Europe
Revenue, System Installations and Annual Capacity Additions Forecast Analysis by Country—Europe (continued)
Revenue, System Installations and Annual Capacity Additions Forecast Analysis by Country—Europe (continued)
Key Growth Metrics for the Residential Battery Energy Storage Market—Asia & Oceania
Revenue and System Installations Forecast—Asia & Oceania
Cumulative and Annual Capacity Additions Forecast—Asia & Oceania
Revenue Forecast by Country—Asia & Oceania
System Installations Forecast by Country—Asia & Oceania
Annual Capacity Additions Forecast by Country—Asia & Oceania
Revenue, Systems Installations and Annual Capacity Additions Forecast Analysis by Country—Asia & Oceania
Revenue, Systems Installations and Annual Capacity Additions Forecast Analysis by Country—Asia & Oceania (continued)
Growth Opportunity 1: Solar + Storage Value Proposition
Growth Opportunity 1: Solar + Storage Value Proposition (continued)
Growth Opportunity 2: New Business Models for Storage-as-a-Service
Growth Opportunity 2: New Business Models for Storage-as-a-Service (continued)
Growth Opportunity 3: Leverage Data Analytics for Residential Battery Energy Storage
Growth Opportunity 3: Leverage Data Analytics for Residential Battery Energy Storage (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
Popular Topics
Key Issues Addressed
- What are the key drivers and restraints impacting future growth in the market
- What is the forecast growth in key country markets in systems, revenues, and kWh storage
- What are the market shares of leading players in the market, and how did they achieve their positioning
- What is the main distribution model for the market
- What are the key growth opportunities for market participants to secure their place in the future market
Author: Jonathan Robinson
| No Index | No |
|---|---|
| Podcast | No |
| Author | Jonathan Robinson |
| Industries | Energy |
| WIP Number | MF92-01-00-00-00 |
| Keyword 1 | Residential Battery Storage Market |
| Keyword 2 | Battery Energy Storage System |
| Keyword 3 | solar energy storage |
| Is Prebook | No |
| GPS Codes | 9AFE-A4,9AFF-A4,9B00-A4,9851,9852 |
