The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Coupled Solar and Energy Storage Market to Grow

The symbiotic match between the solar and energy storage sectors shows significant market promise and could see the sector yielding a US $2.8 billion market over the next five years,

Assessing the emerging market for combined solar and energy storage, Lux Research analysts found that residential applications dominate through 2018. As lithium-ion (Li-ion) batteries and overall storage arrays fall in price, residential systems will gain the most, growing to 382 MW in 2018, the report suggests. Meanwhile, the light commercial segment will increase to 220 MW although heavy commercial/industrial systems will lag, growing only to 73.3 MW.

Combined market for intergrated solar and storage

The off-grid market enjoys higher profit margins, but the much larger market for grid-tied systems means they dominate the solar and energy storage market. Grid-tied solar installations will comprise 675 MW, or nearly 95 percent of the combined 711 MW market, while off-grid applications including telecom power claim the remaining 5 percent, the report, ‘Batteries Included: Guarging Near-Term Prospect for Solar/Energy Storage Systems’, states.

Dominated by grid installations, this market segment will be a boon to energy storage producers but have only a modest impact on the solar market, Lux Research says.

“Developers are pushing packaged solar and storage systems in order to stand out as value-adding leaders, but not all benefit equally,” said Steven Minnihan, Lux Research Senior Analyst and a co-author of the report.

He added: “Residential energy storage will see a boost [in] adoption due to solar, but the addition of storage will barely move the needle for solar players, driving a paltry 1 percent increase in global PV sales.”

Considering geographical differences, Lux consider Japan as the worldwide market leader. Hit by high electricity prices and seeking alternative energy after the nuclear woes, Japan will install 381 MW of solar coupled with storage by 2018, leading all other markets by a wide margin, the analysis suggests. Germany will come in second at 94 MW, while the U.S. will be third at 75 MW.

In addition, Lux argues that policies may dramatically increase the market for energy storage technologies. This year, Germany set aside $67 million to subsidize solar-tied energy storage and the U.S. Senate introduced a program that could fund $7.5 billion worth of new storage projects, or about 7.5 GWh of capacity, the analysis notes.

Image: The combined maket for integrated solar and storage, via Lux Research

Untitled Document

Get All the Renewable Energy World News Delivered to Your Inbox

Subscribe to Renewable Energy World or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

RELATED ARTICLES

Solar water heating

California Regulators Propose Expansion of Eligibility Requirements for Solar Water Heating Program

Jennifer Delony The California Public Utilities Commission has proposed expanding the eligibility requirements for customers seeking ...
Solar

Florida Supreme Court Takes Up Solar Question

Wayne Barber Because Florida remains one of only four states where current laws expressly deny citizens and businesses the freedom...
solar net metering

Lithuanian Net Metering Hits Snag from Outset

Linas Jegelevicius The much anticipated net metering in Lithuania has hit a major snag from the very start – the introduced network oper...
Solar energy

Colorado PUC Orders No Changes to Solar Net Metering

Vince Font In what is being lauded as a “fair outcome” for consumers, utilities and the solar industry alike, the Colorado Publi...

PRESS RELEASES

Canadian Solar Wins Five Solar Power Projects Totaling 185 MW in Brazil

These power projects were won under a 20-year Power Purchase Agreement (PPA) with the B...

$100 Off of 5-day Advanced PV Project Experience. Download a Topic Schedule.

Assemble, ground, energize, and commission a complete grid-tied SolarEdge system from s...

Former Australian Prime Minister Kevin Rudd talks politics of fear vs. politics of hope

Rudd, who led the Australian parliament from 2007 to 2010, told the Summit audience tha...

Intersolar AWARD „Solar Projects in India“ – Applications being accepted until September 18

The Intersolar AWARD in the category Solar Projects in India honors projects in the fie...

FEATURED BLOGS

Washington, DC Bridges the Solar Gap

The District of Columbia has enjoyed 15 years of strong economic growth. But prosperity is spread unevenly across the...

Sell Through Hypothesis

You first learned to hypothesize, or make educated guesses, in grade school science class. Now it’s time to ref...

Cronimet / THEnergy study: In solar for mines size does not always matter - Reducing CAPEX with energy efficiency and load shifting

Munich, September 2015. Mining companies are constantly gaining interest in solar solutions because frequently solar ...

Final Program Now Available for GRC Annual Meeting & GEA Geothermal Energy Expo

GRC Annual Meeting & GEA Geothermal Energy Expo - Final Program from

FINANCIAL NEWS

David Appleyard is a contributing editor. A freelance journalist and photographer, he has some 20 years' experience of writing about the renewable energy sector and is based in Europe.

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @jennrunyon

FEATURED PARTNERS



EVENTS

Successfully Integrating Solar: A Proactive Approach

•      What does the increasing solar penetrati...

GRC Annual Meeting & GEA Geothermal Energy Expo

GRC Annual Meeting & GEA Expo:   Register Now for the 2015 GRC ...

GRC Fieldtrip - Long Valley Geology

Led by: Gene Suemnicht and Duncan Foley     &nb...

COMPANY BLOGS

Vacancy? No Problem!

Have you ever tried to sell an efficiency product or service to a prospe...

Going The Extra Mile

Selling efficiency takes perseverance, creativity, and a willingness to ...

Speaking Out For Hydro

In January, a columnist with Canada’s The Globe and Mail newspaper...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS