The global residential solar energy storage market research analysis segments by battery technology (lead-acid battery, Li-ion battery, and others) and by geography (APAC, EMEA, and the Americas). Leading vendors analysed in this global market research are BYD, Samsung SDI, C&D Technologies, Exide Technologies, GS Yuasa, LG Chem, Panasonic, and VARTA Microbattery. The increasing global installation of energy storage systems (ESS) is a noteworthy factor that results in this market’s profound CAGR of more than 67% by 2019.
The Global Residential Solar Energy Storage Market 2015 – 2019 report spreads across 79 pages and providing 34 data exhibits is available at:
The lead-acid battery segment is envisaged to be the largest market segment during the forecast period. Advantages like its ability to withstand overcharging and its role in eliminating voltage fluctuations by providing a continuous power supply are expected to account for its high market share of more than 78% by 2019.
Governments in MEA have set strong regulatory frameworks to promote renewable power. Policy deployment and target setting are on-going phenomena in the region. The success of large-scale deployment of renewable energy installations in MEA can be attributed to the robust regulatory framework prevalent across all countries, which includes policies such as renewable energy targets, renewable energy plans, tradable renewable energy, capital subsidy, and energy production payment. We expect the stringent regulatory framework to play an important role in boosting the growth of renewable energy in MEA.
According to the report, the availability of PV inverters that are integrated with energy storage devices is another factor driving market growth. These inverters help in efficient load management among industries in the renewable energy sector by ensuring a continuous power supply in the grid and minimal interruptions. Also, they increase the reliability of the power grid. Thus, through such integrations, PV inverters have come a long way from being just a simple inverter to being capable of performing important tasks such as connecting the solar grid to the smart grid and enabling power storage.
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The market research analysts estimate the APAC region to account for a market share of more than 50% by 2019. Market growth in this region is augmented by the rising demand for energy from the residential sector. Among all the countries in the APAC region, Japan is considered to be the fastest growing market for solar PVs owing to the increased focused on renewable power sources following the Fukushima disaster of 2011.
Further, the report states that we note that the electricity generation industry currently offers guidelines but does not enforce standards in terms of dealing with PV systems. The researcher suggests that the North American Board of Certified Energy Practitioners’ certification process would likely boost quality, reduce accidents, improve guidelines, and bring down the costs and insurance premiums for solar PV installations.
Key questions answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the global residential solar energy storage market?
- What are the key market trends impacting the growth of the global residential solar energy storage market?
- What are the challenges to market growth?
- Who are the key vendors in the global residential solar energy storage market?
- What are the market opportunities and threats faced by the vendors in the global residential solar energy storage market?
- Trending factors influencing the market shares of the EMEA, Americas, and APAC?
- What are the key outcomes of the five forces analysis of the global residential solar energy storage market?
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