Residential Energy Storage Systems

Residential Energy Storage Systems

Residential Energy Storage Systems

Report
Format: PowerPoint
Published year: 2016
Publisher: Navigant Research
Language: English
Pages: 19

Summary

While residential battery storage has been a growing market for a number of years, it has mostly been ignored by utilities as a niche product for clean energy connoisseurs. However, momentum is increasing rapidly as utilities begin to recognize the value that residential energy storage (RES) can provide. RES systems have the potential to alter the electricity industry in terms of the grid?s physical structure, as well as business models and utilities? relationships with their customers. Numerous factors are driving this market worldwide, including the growing residential solar PV industry, falling system costs, the need to improve resilience, and the desire to use clean and locally generated electricity. Despite its potential, the RES industry is very much a developing market. With the exception of a small number of early adopter markets, there is little activity in this space throughout most of the world. The economics still do not justify the high upfront cost for installing these systems. Collaborations between utilities and residential system providers have been one of the key factors in the industry?s growth to date. Residential storage offers benefits for utilities and grid operators, perhaps most notably the ability to reduce congestion on the network and limit the need for peak capacity resources. The involvement of utilities will be crucial to significant growth in this market in the United States. This slide-based Navigant Research Utility Technology Disruption report examines the RES market in the United States. The report focuses on the value these systems can provide both customers and grid operators, as well as on collaborations between utilities and leading vendors. System cost projections and adoption forecasts are provided through 2025. Featuring Navigant Research?s Utility Technology Disruption Matrix and Execution Grid, the report also examines implications for traditional utility business models, provides utility case studies, and offers strategic recommendations for industry stakeholders to position for long-term success.
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