Residential Energy Storage Market Trends Segment Analysis and Future Scope

1. Residential Energy Storage Market To Touch USD 3,099.8 Million by 2030 1 © Prescient & Strategic Intelligence Private Limited. All rights reserved

2. The residential energy storage market will reach USD 3,099.8 million by 2030, powering at a rate of 18.2% in the years to come. This is because of the rampant infra expansion, increasing consumer expenditure on energy storage, rising private and government investments in renewable energy production, growing concern of people with regards to degradation of the environment, rising interest in accomplishing self- sufficiency, high research and development outlay, and booming consumption of energy in developing nations. Download analysis/residential-energy-storage-market/report-sample sample pages of this report: https://www.psmarketresearch.com/market- The customer-owned category dominated the industry in the past, and it will continue like this in the years to come as well. The key reason for this will be the numerous advantages of customer-owned ESSs, for example decreased electricity cost per kilowatthour; growing requirement for rooftop PV solutions, and the mounting emphasis on accomplishing self-sufficiency. Also, the utility-owned category had a significant revenue. This is because of the increasing requirement for grid-scale electrical energy stowage technologies and support of the government for utility providers. The 6 to 10 kW category had a revenue share of approximately 50%, in 2022, and this trend will continue in the years to come as well. This is because of the increasing consumption of energy, growing occurrence of long power cuts, faults in grid, and rising requirement for a larger amount of stable power. The lithium-ion category had the larger revenue share of more than 80%, in 2022, and it will continue like this in the years to come as well. This is as a result of the fact that these batteries are more dependable and stable and can be recharged over and over again. Browse the full report at: https://www.psmarketresearch.com/market-analysis/residential-energy- storage-market Moreover, as opposed to the conformist rechargeable batteries, Li-ion batteries have improved energy densities, lower self-discharge rates, and higher voltage capacities which improve power efficiency by letting a single cell for holding charge for long. Europe residential energy storage market was a regional leader with a share, of around 40%, in 2022, and this dominance will be continued in the future as well. This is because of the fast acceptance of rooftop solar power, a government subsidy of 30% for the battery system, increase in the rate of urbanization, and existence of numerous industry players. 2 © Prescient & Strategic Intelligence Private Limited. All rights reserved

3. Furthermore, the growing requirement for EVs and expanding implementation of virtual power plants increase the installation rate of these sort of systems. The increasing use of EVs produces a substantial load on the current grid infra, and to reduce the load, governments in the EU inspire EV owners to connect energy storage solutions at home, for charging the vehicles. Due to the rising consumer spending on energy storage, the demand for residential energy storage solutions will continue to grow in the years ro come as well. 3 © Prescient & Strategic Intelligence Private Limited. All rights reserved

4. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 4 ©P&SIntelligence.Allrightsreserved 4 © Prescient & Strategic Intelligence Private Limited. All rights reserved