Commercial Energy Storage Market is expected to dominated by The Lithium-ion Batteries segment during the forecast periods
Increasing
demand for uninterrupted and reliable power supply and the rise in adoption of
solar rooftop systems by the Commercial sector is also expected to drive the
growth of the market studied.
According to
TechSci Research report, “Global Commercial Energy Storage Market - By
Region, Competition, Forecast & Opportunities, 2028”, The Global Commercial Energy Storage Market is expected
to register CAGR of 6.25%. The Commercial
energy storage policies till now are quite nascent. However, countries, such as
the United States and Germany, through state policy action and regulatory
action, are creating opportunities in the local energy storage markets. The Commercial
energy storage system growth is primarily driven by spurring demand for
electric vehicles to mitigate carbon emission. Moreover, the growing demand for
uninterrupted power supply and frequent power outage in remote areas are likely
to strengthen market prospects. Also, the Commercial energy storage system
assists the grid in maintaining reliability and resilience in operation, which
eliminates bottlenecks in the transmission and distribution of energy.
Transformation
in Germany's energy mix has been taking place for the past few years. Rooftop
solar accounted for a significant share of Germany's total solar energy
generation, mainly due to advanced supporting mechanisms introduced in the
past, such as grants and loans for roof programs. In 2021, Germany introduced a
reform of Renewable Energy Law or EEG 2021, which incorporates the exemption of
EEG levy for the owners of PV systems for self-consumption not exceeding 30kW
in size. Under the previous rules, this limit was set at 10 kW. This EEG levy
is likely to boost the German Commercial battery market as most Commercial systems
are in the aforementioned range.
Further, in
March 2022, the Institute for Power Electronics and Electrical Drives (ISEA)
and RWTH Aachen University found that the home storage systems (HSS) accounted
for 93% of the 1,357 MWh of new energy capacity installed in 2021, while the
rest 7% includes industrial and large-scale storage segments.
As of January
2022, the United Kingdom registered 13.79 GW installed solar capacity, and 26%
(3.25 GW) of the total capacity has come from solar PV installations below 10
kW, mainly consisting of Commercial rooftop solar photovoltaic consumers.
In the United
Kingdom, an average resident consumes between 3kWh and 6kWh of energy daily;
accordingly, system sizes may vary. One of the most common system capacities
installed is a 4-kW system, which is suited to satisfy the energy needs of
three-four people. However, a 5kW solar PV system is typical for a home with
four-five people, while a 6kW solar panel system is suggested for a home with
over five residents. Hence, most Commercial PV systems have a capacity below 10
kW in the country.
Moreover, Italy
introduced a new super bonus incentive scheme, which gives the possibility of
obtaining a tax credit of 110% for the expense from July 2020 until 2023,
encouraging energy efficiency interventions. However, to benefit from the super
bonus, the PV and the storage system must be installed in conjunction with one
of the main interventions. The overall investments made must lead to an
improvement of an energy efficiency rating. In case of ineligibility, obtaining
the 10-year 50% tax credit already in place for small-scale PV generation
assets and BESS is possible.
Browse over xx
market data Figures spread through 180 Pages and an in-depth TOC on " Commercial Energy Storage Market.”
Key market
players in the Global Commercial Energy Storage Market include:
- Tesla, Inc.
- LG Chem Ltd.
- Sonnen GmbH.
- Enphase Energy,
Inc.
- Sunrun Inc.
- Panasonic
Corporation.
- Orison.
- Eguana
Technologies Inc.
- Pika Energy.
- BYD Company
Limited
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“As of February
2020, LG Chem and Span.IO, Inc. launched a battery storage and intelligent home
energy control system which enables customizable backup power. The system
ensure home loads remains powered in the event of power outage. Highly reliable
system is suitable for Commercial battery storage and backup power. In
addition, In January 2020, Kyocera and 24M recently unveiled its Commercial energy
storage system, Enerezza. It is the world’s first system built using 24M’s
novel SemiSolid electrode manufacturing process. The product is designed to
meet varied energy demand and available in 5 kWh, 10kWh, and 15kWh. Hence
market is expected to grow during the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
Commercial Energy Storage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Technology Type (Lithium-ion Batteries, Lead-acid
Batteries, and Other Technology Types), By Power Rating (3-6 kW, 6-10 kW, 10-20
kW), By Connectivity (On-Grid, Off-Grid), By Operation (Standalone, Solar), By
Region, Competition 2018-2028 has evaluated the future growth potential of Global Commercial Energy
Storage Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Commercial
Energy Storage Market.
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