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Global Residential Solar Energy Storage Market 2017-2021

About Residential Solar Energy Storage

A Solar photovoltaic system, also known as PV system or solar power system, is a system designed to provide usable solar power by means of photovoltaics (PV). The solar PV systems can be broadly classified in residential, commercial and industrial (C&I), and utility segments. The residential solar PV systems are generally mounted on rooftops to save land space. They are small-scale electricity generation systems, not exceeding 20 kilowatts (kW) capacity. Residential solar power plants can be grid-connected or can be installed as decentralized microgrids. The cost of installing a solar PV system is relatively high in the residential segment due to the economies of scale.

Technavio’s analysts forecast the global residential solar energy storage market to grow at a CAGR of 67.82% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global residential solar energy storage market for 2017-2021. To calculate the market size, the report considers the cumulative installations and excludes aftermarket/ services market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Residential Solar Energy Storage Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • East Penn Manufacturing
  • LG Chem
  • Panasonic
  • redT energy storage
  • SAMSUNG SDI
  • Saft
  • sonnen
Other prominent vendors
  • A123 Systems
  • ACME
  • Adara Power
  • BYD
  • Daimler
  • Enphase Energy
  • e-On Batteries
  • E3/DC
  • Exide Technologies
  • Fronius International
  • GESS
  • GS Yuasa International
  • HOPPECKE Batterien
  • IBC SOLAR
  • KOSTAL Solar Electric
  • KYOCERA
  • Nedap
  • neovoltaic
  • Primus Power
  • Redflow
  • Sharp Electronics
  • Sinetech
  • SENEC
  • SMA Solar Technology
  • Sony Energy Devices
  • Tesla
  • Trojan Battery Company
  • VARTA
  • ViZn Energy Systems
  • ZEN Energy
Market driver
  • Reduction in PV and energy storage systems costs
  • For a full, detailed list, view our report
Market challenge
  • Availability of alternative technologies
  • For a full, detailed list, view our report
Market trend
  • Residential energy storage as virtual power plants
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Residential Solar Energy Storage Market 2017-2021

Technavio recognizes the following companies as the key players in the global residential solar energy storage market: East Penn Manufacturing, LG Chem, Panasonic, redT energy storage, SAMSUNG SDI, Saft, and sonnen.

Other Prominent Vendors in the market are: A123 Systems, ACME, Adara Power, BYD, Daimler, Enphase Energy, e-On Batteries, E3/DC, Exide Technologies, Fronius International, GESS, GS Yuasa International, HOPPECKE Batterien, IBC SOLAR, KOSTAL Solar Electric, KYOCERA, Nedap, neovoltaic, Primus Power, Redflow, Sharp Electronics, Sinetech, SENEC, SMA Solar Technology, Sony Energy Devices, Tesla, Trojan Battery Company, VARTA, ViZn Energy Systems, and ZEN Energy.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is residential energy storage as virtual power plants. With solar power prices spiraling down, there has been a steady increase in PV adoption, which has led to a continuous increase in the number of installations in the residential and commercial sectors. However, the highly intermittent nature of standalone solar power system is a major concern. Power output from solar PV is dependent on factors such as efficiency of the panel, solar irradiation of the region, and the degree of shading that varies as per the time of day and the amount of cloud covering the region.”

According to the report, one of the major drivers for this market is Reduction in PV and energy storage systems costs. Worldwide, the growing focus of countries in terms of shifting to renewable power generation has led to millions of PV systems to be deployed across the world, to meet the power needs. In countries where feed-in tariffs exist, excess power is sent to the grid in exchange for a small compensation. Energy storage systems are complementing the solar PV systems by storing the excess power for later use, thereby increasing renewable power penetration as well as increasing the use of cheaper and cleaner power.

Further, the report states that one of the major factors hindering the growth of this market is Availability of alternative technologies. One of the biggest challenges energy storage systems face is its competition with well-established power sources, such as diesel generators and upcoming technologies including fuel cells that are cleaner and have higher efficiency.



Companies Mentioned

East Penn Manufacturing, LG Chem, Panasonic, redT energy storage, SAMSUNG SDI, Saft, and sonnen. A123 Systems, ACME, Adara Power, BYD, Daimler, Enphase Energy, e-On Batteries, E3/DC, Exide Technologies, Fronius International, GESS, GS Yuasa International, HOPPECKE Batterien, IBC SOLAR, KOSTAL Solar Electric, KYOCERA, Nedap, neovoltaic, Primus Power, Redflow, Sharp Electronics, Sinetech, SENEC, SMA Solar Technology, Sony Energy Devices, Tesla, Trojan Battery Company, VARTA, ViZn Energy Systems, and ZEN Energy.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Solar PV market overview
      • Table Solar power plant overview
      • Table Global solar PV market 2016-2021 (GW)
  • Market landscape
    • Market overview
      • Table Market overview
    • Market size and forecast
      • Table Global residential energy storage market 2016-2021 ($ millions)
      • Table Solar PV penetration level
      • Table Services provided by energy storage
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by technology
    • Global residential solar energy storage market by technology
      • Table Global residential solar energy storage market by technology 2016 and 2021 (%)
      • Table Global residential solar energy storage market by technology 2016-2021 ($ millions)
    • Global residential solar Li-ion battery market
      • Table Global residential solar Li-ion battery market 2016-2021 ($ millions)
    • Global residential solar lead-acid battery market
      • Table Global residential solar lead-acid battery market 2016-2021 ($ millions)
      • Table AGM and gel lead-acid battery in comparison to flooded lead-acid battery
  • Geographical segmentation
    • Global residential solar energy storage market by geography
      • Table Global residential solar energy storage market by geography 2016 and 2021 (%)
      • Table Global residential solar energy storage market by geography 2016-2021 ($ millions)
    • Residential solar energy storage market in EMEA
      • Table Residential solar energy storage market in EMEA 2016-2021 ($ millions)
    • Residential solar energy storage market in APAC
      • Table Residential solar energy storage market in APAC 2016-2021 ($ millions)
    • Residential solar energy storage market in the Americas
      • Table Residential solar energy storage market in the Americas 2016-2021 ($ millions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Indexed cost of solar PV system 2008-2015
      • Table Savings from feed-in without energy storage and with energy storage
      • Table Average electricity price in EU and US 2012-2015 ($/kWh)
    • Market challenges
      • Table Challenges faced while using Li-ion batteries
      • Table Recycling effects of lead-acid batteries
      • Table Electricity generation efficiency 2015 (%)
  • Market trends
    • Residential energy storage as virtual power plants
      • Table Power generation pattern by 1 kW solar module in a day
      • Table Major virtual power plants across the world
    • Market attracting new vendors
    • Increasing green construction spending and zero energy homes
      • Table Green construction spending in residential US 2010-2016 ($ millions)
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
      • Table Other prominent vendors (indicative list)
  • Key vendor analysis
    • East Penn Manufacturing
      • Table East Penn Manufacturing: Key products
    • LG Chem
      • Table LG Chem: Key products
    • Panasonic
      • Table Panasonic: Key products
    • redT energy storage
      • Table redT energy storage: Key products
    • SAMSUNG SDI
      • Table Samsung SDI: Key products
    • Saft
      • Table Saft: Key products
    • sonnen
      • Table sonnen: Key products
  • List of Abbreviations
  • Explore Technavio

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