GTM Research projects that residential batteries and other energy storage systems will be coupled with solar in 9 of 10 storage deployments by 2023. Additionally, the firm projects that residential solar power costs will fall below $2/W by this date.
It’s starting to turn into a story on repeat – solar power plus energy storage – but it is a story that will repeat while we reorganize our power grid. And while utility-scale energy storage is a given, the application is beginning to filter down in a meaningful way to the residential market.
We know that homeowners are interested in energy storage, and now in key markets we’re starting to see significant growth in residential energy storage deployment. And the big three residential solar power companies – SunRun, Sunnova and Tesla – are all pushing this combination as well.
The question that remains is far will we go with this trend. GTM Research, a Wood Mackenzie company, projects that 90% of residential energy storage installations – by 2023 – will be coupled with solar power.
Read more: PV Magazine USA