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Residential ESS market to grow six times by 2030

Posted on - 11 Jan 2024

Category - News & Views

A report by BNEF suggests that the total capacity of residential storage batteries will rise from 17.4GW at the end of 2023, to 107.6GW by the end of 2030, an increase of more than six times and a CAGR of nearly 30% over that time period. The last year has seen substantial growth in the European market due to concerns over energy security. German and Italian combined capacity additions now dwarf annual US additions, and Asia is starting to emerge strongly as well. There are a number of schemes to promote residential battery use, particularly in Japan and Australia, as...

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BNEF China ESS Europe Growth LFP Residential Storage US