Total worldwide installed capacity for community and residential energy storage systems will reach 780 megawatts in 2022.
“The community and residential energy storage sector is still nascent, but market conditions, technology capabilities, and economics are beginning to align in a way that points to significant growth opportunities over the coming decade,” says research analyst Anissa Dehamna.“Several high-profile demonstration projects are currently underway, focused on delivering voltage support, load-leveling/peak-shifting, and islanding services, and aiming to experiment with frequency regulation and spinning reserve services further along in the project.”
One of the key factors influencing the growth of the CRES market will be the attitudes and objectives of utilities. Because it is not a part of a utility’s mandate to integrate or experiment with new technologies, utilities must make extraordinary efforts to engage in energy storage projects based on newer technologies.On the other hand, some utilities are keen to understand the operation, benefits, and business cases for CRES.It is likely that in each key region (North America, Western Europe, and Asia Pacific), one or several key, progressive utilities will be the first to trial CRES.
Pike Research’s report, “Community and Residential Energy Storage”, assesses the market opportunity for battery-based energy storage systems in community and residential deployments.Key applications covered include voltage support, frequency regulation, islanding, and peak shaving using lithium ion, advanced lead-acid, and flow battery technologies.The study includes profiles and SWOT analysis for key industry players as well as global revenue and installed capacity forecasts, segmented by technology and region, for the period from 2012 to 2022. An Executive Summary of the report is available for free download on the firm’s website.