Residential Energy Storage Market by Power Rating (3-6 kW, 6-10 kW, 10-20 kW), Connectivity (On-Grid, Off-Grid), Technology (Lead-Acid, Lithium-Ion), Ownership (Customer, Utility, Third-Party), Operation (Standalone, Solar), Region - Global Forecast to 2028

Abstract
At a CAGR of 18.3% over the forecast period, the residential energy storage market is anticipated to increase from an estimated USD 898 million in 2023 to USD 2,081 million by 2028. expanding demand for energy production from renewable sources, along with expanding investments in the renewables industry, are the main market drivers.

“The 6 – 10 kW, by power rating, is expected to be the largest and the fastest-growing market from 2023 to 2028”

The residential energy storage market is categorized by application into three segments: 3-6 kW, 6-10 kW, and 10-20 kW. Among these segments, the 6-10 kW segment is projected to hold the largest market share and exhibit a high CAGR during the forecast period. This dominance can be attributed to the reduced reliance on grid supply enabled by energy storage systems, which serve as backup power sources in the event of grid outages. By offering backup capabilities, the 6-10 kW segment provides homeowners with increased energy security and resilience.

“The lithium-ion segment, by technology, is expected to be the fastest-growing market from 2023 to 2028”

Lithium-ion and lead-acid batteries make up the two technology segments of the residential energy storage market. The market for lithium-ion batteries is expected to grow most rapidly. The strong growth rate can be due to the rising number of lithium-ion battery manufacturing facilities and high expenditure in their R & D.

“The Customer-owned, by ownership type, is expected to be the largest and the fastest-growing market from 2023 to 2028”

The residential energy storage market is categorized based on ownership type, including customer-owned, utility-owned, and third-party-owned systems. Among these segments, the customer-owned segment is projected to experience the highest growth rate during the forecast period, closely followed by the utility-owned segment.

This dominance can be attributed to the advantages customers gain, such as lower energy bills and increased energy independence, through the implementation of residential energy storage solutions. By owning their energy storage systems, residential customers can optimize their energy usage, store excess energy, and rely less on external energy sources, leading to greater cost savings and enhanced self-sufficiency.

Breakdown of Primaries:
To gather and authenticate essential qualitative and quantitative information and evaluate future market prospects, comprehensive in-depth interviews have been conducted. These interviews involved key industry participants, subject-matter experts, C-level executives from prominent market players, industry consultants, and other relevant experts. The primary interviews were strategically distributed among these stakeholders to ensure a comprehensive and well-rounded understanding of the market dynamics, trends, and potential opportunities.

By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: Europe – 35%, North America- 26%, Asia Pacific – 25%, Middle east & Africa – 8% and South America – 6 %.

Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined based on their total revenue as of 2018. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: A few key players with extensive regional coverage dominate the residential energy storage market. These leading market players include Tesla (US), VARTA AG (Germany), Enphase Energy (US), BYD Company Ltd (China), Sonnen GmbH (Germany), LG Energy Solution (South Korea), and other notable companies.

Research Coverage:
The report encompasses a comprehensive analysis of the residential energy storage market, covering various aspects such as power rating, connectivity type, operation type, ownership type, technology, and regional forecasts. It provides a detailed qualitative and quantitative assessment of the market, offering a thorough understanding of its dynamics. The report examines the key market drivers, restraints, opportunities, and challenges, offering valuable insights for stakeholders. Additionally, it delves into crucial aspects of the market, including a competitive landscape analysis, market dynamics, estimation of market value, and future trends in the residential energy storage sector.

Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the relay market and provides them information on key market drivers, restraints, challenges, and opportunities.

Analysis of key drivers (growing investments in R&D of lithium-ion batteries for renewable energy source, The growing adoption of renewable energy sources, such as solar power, is driving the demand for residential energy storage systems), restraints (high upfront cost of residential energy storage systems and Limited subsidies, tax credits, or rebate programs can make the systems less financially attractive for homeowners.), opportunities (Advanced software and control systems can optimize energy usage, intelligently manage charging and discharging, and enable participation in demand response programs.), and challenges (limited energy density and capacity which will impact the duration and power output during extended outages or high-demand periods.) influencing the growth of the residential energy storage market.

Product Development/ Innovation:
Residential energy storage systems utilize rechargeable batteries to store energy from solar arrays or electric grids, enabling them to efficiently perform tasks like peak shaving and load shifting. Thanks to advanced technology-based batteries, these systems overcome the limitations of traditional methods and offer greater flexibility and efficiency in managing energy usage. Residential energy storage market lithium-ion (Li-ion) batteries have a lifespan ranging from 5 to 15 years and an efficiency range of 85% to 98%. Rapid technological advancements and significant cost reductions have made these batteries appear to be very promising. The production and development of electric vehicles (EVs), particularly those spearheaded by Tesla, is expected to have a significant impact on Li-ion battery prices. It is anticipated that this cost decrease will spread to other Li-ion battery uses, such as laptops, portable electronics, and power-generating electronics.

Market Development:
The residential energy storage sector aim to increase the availability of energy storage systems in new geographic regions. Key players are actively expanding their market presence, both domestically and internationally, to access untapped customer bases and leverage regional incentives and policies. Sonnen, a company specializing in intelligent energy storage solutions for residential applications, offers products like the SonnenBatterie. These solutions are designed to seamlessly integrate with renewable energy sources and provide grid services, demonstrating their commitment to enhancing renewable energy adoption and grid integration.

Market Diversification:
The residential energy storage market involves diversifying the range of products, services, and target customer segments to cater to a wider spectrum of consumer needs and preferences. Tesla holds a significant position in this market, offering the Powerwall product line, which includes various models with different capacities to meet diverse customer requirements. Enphase Energy, on the other hand, is recognized for its expertise in microinverter technology and provides residential energy storage solutions through the Enphase Encharge product line. Additionally, Enphase Energy offers comprehensive monitoring and maintenance services for their systems.

Competitive Assessment:
An in-depth assessment reveals the market shares, growth strategies, and service offerings of key players in the residential energy storage market. Prominent companies such as Tesla (US), Sonnen GMBH (Germany), Enphase Energy (US), BYD Company Ltd. (China), and LG Energy Solution (South Korea) among others demonstrate notable positions in the residential energy storage market.

Content
Table of Contents

1INTRODUCTION40
1.1STUDY OBJECTIVES40
1.2MARKET DEFINITION41
1.3INCLUSIONS AND EXCLUSIONS41
1.4STUDY SCOPE42
1.4.1RESIDENTIAL ENERGY STORAGE MARKET SEGMENTATION42
1.4.2REGIONAL SCOPE43
1.4.3YEARS CONSIDERED43
1.5CURRENCY CONSIDERED44
1.6LIMITATIONS44
1.7STAKEHOLDERS44
1.8SUMMARY OF CHANGES45
2RESEARCH METHODOLOGY46
2.1RESEARCH DATA46
FIGURE 1RESIDENTIAL ENERGY STORAGE MARKET: RESEARCH DESIGN46
2.2MARKET BREAKDOWN AND DATA TRIANGULATION47
FIGURE 2DATA TRIANGULATION METHODOLOGY47
2.2.1SECONDARY DATA48
2.2.1.1Key data from secondary sources48
2.2.2PRIMARY DATA48
2.2.2.1Key data from primary sources49
2.2.2.2Breakdown of primaries49
FIGURE 3BREAKDOWN OF PRIMARIES: BY COMPANY, DESIGNATION, AND REGION50
2.3MARKET SIZE ESTIMATION50
2.3.1BOTTOM-UP APPROACH50
FIGURE 4RESIDENTIAL ENERGY STORAGE MARKET: BOTTOM-UP APPROACH51
2.3.2TOP-DOWN APPROACH51
FIGURE 5RESIDENTIAL ENERGY STORAGE MARKET: TOP-DOWN APPROACH51
2.3.3DEMAND-SIDE METRICS52
FIGURE 6RESIDENTIAL ENERGY STORAGE MARKET: DEMAND-SIDE ANALYSIS52
FIGURE 7METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR RESIDENTIAL ENERGY STORAGE SYSTEMS52
2.3.3.1Assumptions for demand-side analysis53
2.3.3.2Calculations53
2.3.4SUPPLY-SIDE ANALYSIS54
FIGURE 8KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF RESIDENTIAL ENERGY STORAGE54
FIGURE 9RESIDENTIAL ENERGY STORAGE MARKET: SUPPLY-SIDE ANALYSIS55
2.3.4.1Assumptions and calculations55
FIGURE 10COMPANY REVENUE ANALYSIS, 202256
2.3.5FORECAST56
3EXECUTIVE SUMMARY57
TABLE 1RESIDENTIAL ENERGY STORAGE MARKET SNAPSHOT57
FIGURE 116 TO <10 KW SEGMENT TO ACCOUNT FOR LARGEST SHARE OF RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, THROUGHOUT FORECAST PERIOD58
FIGURE 12LITHIUM-ION BATTERY-POWERED RESIDENTIAL ENERGY STORAGE SYSTEMS TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD59
FIGURE 13CUSTOMER-OWNED SEGMENT TO LEAD RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, DURING FORECAST PERIOD59
FIGURE 14SOLAR AND STORAGE SYSTEMS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE60
FIGURE 15ON-GRID RESIDENTIAL ENERGY STORAGE SYSTEMS TO CAPTURE LARGER MARKET SHARE60
FIGURE 16EUROPE DOMINATED RESIDENTIAL ENERGY STORAGE MARKET IN 202261
4PREMIUM INSIGHTS62
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN RESIDENTIAL ENERGY STORAGE MARKET62
FIGURE 17DECLINING COSTS OF LITHIUM-ION BATTERIES TO DRIVE RESIDENTIAL ENERGY STORAGE MARKET GROWTH IN COMING YEARS62
4.2RESIDENTIAL ENERGY STORAGE MARKET, BY REGION63
FIGURE 18NORTH AMERICA TO WITNESS HIGHEST GROWTH IN RESIDENTIAL ENERGY STORAGE MARKET DURING FORECAST PERIOD63
4.3RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING63
FIGURE 196 TO <10 KW SEGMENT DOMINATED RESIDENTIAL ENERGY STORAGE MARKET IN 202263
4.4RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE64
FIGURE 20CUSTOMER-OWNED RESIDENTIAL ENERGY STORAGE SYSTEMS HELD LARGEST MARKET SHARE IN 202264
4.5RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE64
FIGURE 21ON-GRID SEGMENT ACCOUNTED FOR LARGER MARKET SHARE IN 202264
4.6RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY65
FIGURE 22LITHIUM-ION TECHNOLOGY ACCOUNTED FOR LARGER MARKET SHARE IN 202265
4.7RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE65
FIGURE 23SOLAR AND STORAGE SYSTEMS HELD LARGER MARKET SHARE IN 202265
5MARKET OVERVIEW66
5.1INTRODUCTION66
5.2MARKET DYNAMICS67
FIGURE 24RESIDENTIAL ENERGY STORAGE MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES67
5.2.1DRIVERS67
5.2.1.1Government initiatives pertaining to energy storage projects67
5.2.1.2Significant demand for electric vehicles68
FIGURE 25GLOBAL ELECTRIC VEHICLE SALES AND MARKET SHARE, 2020–202268
5.2.1.3Increased investments in R&D of lithium-ion batteries69
FIGURE 26DECLINING COST OF LITHIUM-ION BATTERIES (2013–2021)70
5.2.2RESTRAINTS70
5.2.2.1Lack of battery disposal and recycling standards70
5.2.2.2High initial investment70
TABLE 2COST OF RESIDENTIAL ENERGY STORAGE SYSTEMS OFFERED BY KEY PLAYERS71
5.2.3OPPORTUNITIES71
5.2.3.1Rising demand for grid energy storage systems71
5.2.3.2Increasing installation of solar PV modules71
FIGURE 27SOLAR PV INSTALLATION, BY GEOGRAPHY, 2019–202172
5.2.4CHALLENGES72
5.2.4.1Safety concerns for lithium-ion batteries72
5.2.4.2Aging of lithium-ion batteries72
5.3TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES73
5.3.1REVENUE SHIFT AND NEW REVENUE POCKETS FOR RESIDENTIAL ENERGY STORAGE SYSTEM PROVIDERS73
FIGURE 28NEW REVENUE POCKETS FOR PROVIDERS OF RESIDENTIAL ENERGY STORAGE SYSTEMS73
5.4SUPPLY CHAIN ANALYSIS74
FIGURE 29RESIDENTIAL ENERGY STORAGE MARKET: SUPPLY CHAIN ANALYSIS74
5.4.1RAW MATERIAL SUPPLIERS74
5.4.2BATTERY MANUFACTURERS74
5.4.3SOFTWARE SUPPLIERS74
5.4.4ENERGY STORAGE SYSTEM SUPPLIERS74
5.5ECOSYSTEM ANALYSIS75
TABLE 3RESIDENTIAL ENERGY STORAGE MARKET: ECOSYSTEM75
5.6TRADE ANALYSIS76
TABLE 4IMPORT SCENARIO FOR HS CODE 850650, BY COUNTRY, 2020–2022 (USD)76
FIGURE 30IMPORT DATA FOR TOP FIVE COUNTRIES, 2018–2022 (USD THOUSAND)76
TABLE 5EXPORT SCENARIO FOR HS CODE 850650, BY COUNTRY, 2020–2022 (USD)77
FIGURE 31EXPORT DATA FOR TOP FIVE COUNTRIES, 2018–2022 (USD THOUSAND)77
5.7MARKET MAP78
FIGURE 32RESIDENTIAL ENERGY STORAGE: MARKET MAP78
5.8TECHNOLOGY ANALYSIS78
5.8.1LITHIUM-ION78
5.8.2LEAD-ACID79
5.8.3TECHNOLOGICAL ADVANCEMENTS79
5.9KEY CONFERENCES AND EVENTS, 2022–202380
TABLE 6RESIDENTIAL ENERGY STORAGE MARKET: LIST OF CONFERENCES AND EVENTS80
5.10PATENT ANALYSIS81
5.10.1LIST OF MAJOR PATENTS81
TABLE 7RESIDENTIAL ENERGY STORAGE SYSTEMS: INNOVATIONS AND PATENT REGISTRATIONS, JUNE 2020–JUNE 202381
5.11PRICING ANALYSIS83
5.11.1AVERAGE SELLING PRICE OF ENERGY STORAGE SYSTEMS OFFERED BY KEY PLAYERS, BY POWER RATING83
5.11.2AVERAGE SELLING PRICE TREND83
FIGURE 33COST OF RESIDENTIAL ENERGY STORAGE SYSTEMS, 2019–202183
5.12TARIFF AND REGULATORY LANDSCAPE84
5.12.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS84
TABLE 8NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS84
TABLE 9EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS84
TABLE 10ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS85
TABLE 11GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS85
5.12.2STANDARDS AND REGULATIONS85
TABLE 12RESIDENTIAL ENERGY STORAGE MARKET: STANDARDS AND REGULATIONS85
5.13CASE STUDY ANALYSIS87
5.13.1CMEEC AIMS TO ENERGIZE CUSTOMERS AND ENSURE COMMUNITY PROSPERITY BY PROVIDING LOWER-COST ENERGY SOLUTIONS87
5.13.1.1Problem statement87
5.13.1.2Solution87
5.13.2BYD COMPANY LTD. LAUNCHED NEW BATTERY BOX SYSTEM COMPATIBLE WITH ALL PV SOLAR INVERTERS87
5.13.2.1Problem statement87
5.13.2.2Solution87
5.13.3E3/DC FULFILLED DEMAND OF HOMEOWNER WHO WANTED TO ACHIEVE 80% OF ENERGY SELF-SUFFICIENCY WITH SOLAR POWER87
5.13.3.1Problem statement87
5.13.3.2Solution88
5.14PORTER’S FIVE FORCES ANALYSIS88
FIGURE 34RESIDENTIAL ENERGY STORAGE MARKET: PORTER’S FIVE FORCES ANALYSIS88
TABLE 13RESIDENTIAL ENERGY STORAGE MARKET: PORTER’S FIVE FORCES ANALYSIS89
5.14.1THREAT OF NEW ENTRANTS89
5.14.2BARGAINING POWER OF BUYERS89
5.14.3BARGAINING POWER OF SUPPLIERS89
5.14.4THREAT OF SUBSTITUTES90
5.14.5INTENSITY OF COMPETITIVE RIVALRY90
5.15KEY STAKEHOLDERS AND BUYING CRITERIA90
5.15.1KEY STAKEHOLDERS IN BUYING PROCESS90
FIGURE 35INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY TECHNOLOGY90
TABLE 14INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF TOP 2 TECHNOLOGIES (%)91
5.15.2BUYING CRITERIA91
FIGURE 36KEY BUYING CRITERIA FOR TOP TECHNOLOGY-BASED RESIDENTIAL ENERGY STORAGE SYSTEMS91
TABLE 15KEY BUYING CRITERIA, BY TECHNOLOGY91
6RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY92
6.1INTRODUCTION93
FIGURE 37RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 202293
TABLE 16RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD MILLION)93
TABLE 17RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)93
6.2LITHIUM-ION94
6.2.1HIGHER ENERGY DENSITY TO DRIVE GROWTH94
TABLE 18LITHIUM-ION: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)94
TABLE 19LITHIUM-ION: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)95
6.3LEAD-ACID95
6.3.1LONG LIFESPAN OF LEAD-ACID BATTERIES TO DRIVE GROWTH95
TABLE 20LEAD-ACID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)96
TABLE 21LEAD-ACID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)96
7RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING97
7.1INTRODUCTION98
FIGURE 386 TO <10 KW SEGMENT ACCOUNTED FOR LARGEST SHARE OF RESIDENTIAL ENERGY STORAGE MARKET IN 202298
TABLE 22RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2018–2022 (USD MILLION)98
TABLE 23RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2023–2028 (USD MILLION)99
7.23 TO <6 KW99
7.2.1GROWING DEMAND FOR SYSTEMS WITH LOWEST POWER INPUT TO STIMULATE MARKET GROWTH99
TABLE 243 TO <6 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)100
TABLE 253 TO <6 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)100
7.36 TO <10 KW100
7.3.1LONG-DURATION POWER OUTAGES TO PROMOTE USE OF SYSTEMS WITH 6 TO <10 KW POWER RATING100
TABLE 266 TO <10 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)101
TABLE 276 TO <10 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)101
7.410 TO 20 KW102
7.4.1NEED FOR HIGH-POWER APPLIANCES BOOSTING DEMAND FOR SYSTEMS WITH HIGH POWER RATING102
TABLE 2810 TO 20 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)102
TABLE 2910 TO 20 KW: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)103
8RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE104
8.1INTRODUCTION105
FIGURE 39CUSTOMER-OWNED SEGMENT DOMINATED RESIDENTIAL ENERGY STORAGE MARKET IN 2022105
TABLE 30RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2018–2022 (USD MILLION)105
TABLE 31RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2023–2028 (USD MILLION)106
8.2CUSTOMER-OWNED106
8.2.1ABILITY TO RESOLVE ISSUES OF OVERVOLTAGE AND IMBALANCE OF ENERGY SUPPLY AND DEMAND TO DRIVE GROWTH106
TABLE 32CUSTOMER-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)107
TABLE 33CUSTOMER-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)107
8.3UTILITY-OWNED107
8.3.1GLOBAL RENEWABLE ENERGY GENERATION INITIATIVES TO BOOST INSTALLATION OF UTILITY-OWNED ESS107
TABLE 34UTILITY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)108
TABLE 35UTILITY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)108
8.4THIRD-PARTY-OWNED109
8.4.1HIGH UPFRONT COST AND LOW PER CAPITA INCOME TO BOOST DEMAND FOR THIRD-PARTY-OWNED ESS109
TABLE 36THIRD-PARTY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)109
TABLE 37THIRD-PARTY-OWNED: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)110
9RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE111
9.1INTRODUCTION112
FIGURE 40RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2022112
TABLE 38RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2018–2022 (USD MILLION)112
TABLE 39RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2023–2028 (USD MILLION)112
9.2STANDALONE SYSTEMS113
9.2.1LOWER UPFRONT COSTS OF STANDALONE SYSTEMS TO DRIVE MARKET GROWTH113
TABLE 40STANDALONE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)113
TABLE 41STANDALONE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)114
9.3SOLAR AND STORAGE SYSTEMS114
9.3.1HIGH REQUIREMENT FOR ENERGY SELF-SUFFICIENCY TO BOOST DEMAND FOR SOLAR AND STORAGE SYSTEMS114
TABLE 42SOLAR AND STORAGE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)115
TABLE 43SOLAR AND STORAGE SYSTEMS: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)115
10RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE116
10.1INTRODUCTION117
FIGURE 41RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2022117
TABLE 44RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD MILLION)117
TABLE 45RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD MILLION)118
10.2ON-GRID118
10.2.1RISING USE OF ON-GRID BATTERY STORAGE SYSTEMS TO REDUCE ENERGY BILLS118
TABLE 46ON-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)118
TABLE 47ON-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)119
10.3OFF-GRID119
10.3.1FOCUS ON ENVIRONMENTAL CONSERVATION TO PROMOTE USE OF OFF-GRID SYSTEMS119
TABLE 48OFF-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)120
TABLE 49OFF-GRID: RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)120
11RESIDENTIAL ENERGY STORAGE MARKET, BY REGION121
11.1INTRODUCTION122
FIGURE 42EUROPE DOMINATED RESIDENTIAL ENERGY STORAGE MARKET IN 2022122
11.1.1RECESSION IMPACT: INTRODUCTION123
TABLE 50RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (MW)123
TABLE 51RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (MW)123
TABLE 52RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2018–2022 (USD MILLION)124
TABLE 53RESIDENTIAL ENERGY STORAGE MARKET, BY REGION, 2023–2028 (USD MILLION)124
11.2NORTH AMERICA124
FIGURE 43NORTH AMERICA: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE MARKET, 2022125
11.2.1RECESSION IMPACT: NORTH AMERICA125
TABLE 54NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)126
TABLE 55NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)126
TABLE 56NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2018–2022 (USD MILLION)126
TABLE 57NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2023–2028 (USD MILLION)127
TABLE 58NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2018–2022 (USD MILLION)127
TABLE 59NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2023–2028 (USD MILLION)127
TABLE 60NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2018–2022 (USD MILLION)127
TABLE 61NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2023–2028 (USD MILLION)128
TABLE 62NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)128
TABLE 63NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)128
TABLE 64NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (MW)128
TABLE 65NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (MW)129
TABLE 66NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND)129
TABLE 67NORTH AMERICA: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (USD THOUSAND)129
11.2.2US130
11.2.2.1High sales of solar and storage systems to boost market growth130
TABLE 68US: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)130
TABLE 69US: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)131
TABLE 70US: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)131
TABLE 71US: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)131
11.2.3CANADA132
11.2.3.1Supportive policies promoting installation of ESS to drive market growth132
TABLE 72CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)132
TABLE 73CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)133
TABLE 74CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)133
TABLE 75CANADA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)133
11.2.4MEXICO134
11.2.4.1Strong focus on improving power quality and reducing electricity costs to drive market growth134
TABLE 76MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)134
TABLE 77MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)135
TABLE 78MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)135
TABLE 79MEXICO: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)135
11.3ASIA PACIFIC136
FIGURE 44ASIA PACIFIC: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE MARKET, 2022137
11.3.1RECESSION IMPACT: ASIA PACIFIC137
TABLE 80ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)138
TABLE 81ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)138
TABLE 82ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2018–2022 (USD MILLION)138
TABLE 83ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2023–2028 (USD MILLION)139
TABLE 84ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2018–2022 (USD MILLION)139
TABLE 85ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2023–2028 (USD MILLION)139
TABLE 86ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2018–2022 (USD MILLION)139
TABLE 87ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2023–2028 (USD MILLION)140
TABLE 88ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)140
TABLE 89ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)140
TABLE 90ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (MW)141
TABLE 91ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (MW)141
TABLE 92ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)141
TABLE 93ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)142
11.3.2CHINA142
11.3.2.1Rising need for grid stability to boost market142
TABLE 94CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)143
TABLE 95CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)143
TABLE 96CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)143
TABLE 97CHINA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)144
11.3.3INDIA144
11.3.3.1Utilization of distributed renewables energy technology to spur demand for ESS144
TABLE 98INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)145
TABLE 99INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)145
TABLE 100INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)145
TABLE 101INDIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)146
11.3.4JAPAN146
11.3.4.1R&D efforts by battery providers to support market growth146
TABLE 102JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)147
TABLE 103JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)147
TABLE 104JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)147
TABLE 105JAPAN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)148
11.3.5SOUTH KOREA148
11.3.5.1Need to improve power quality and reliability to drive market148
TABLE 106SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)148
TABLE 107SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)149
TABLE 108SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)149
TABLE 109SOUTH KOREA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)149
11.3.6AUSTRALIA150
11.3.6.1Launch of incentives to install battery-powered energy storage systems to drive market growth150
TABLE 110AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)150
TABLE 111AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)151
TABLE 112AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)151
TABLE 113AUSTRALIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)151
11.3.7REST OF ASIA PACIFIC152
TABLE 114REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)152
TABLE 115REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)152
TABLE 116REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)153
TABLE 117REST OF ASIA PACIFIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)153
11.4EUROPE153
FIGURE 45EUROPE: SNAPSHOT OF RESIDENTIAL ENERGY STORAGE MARKET, 2022155
11.4.1RECESSION IMPACT: EUROPE156
TABLE 118EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)156
TABLE 119EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)156
TABLE 120EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2018–2022 (USD MILLION)156
TABLE 121EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY POWER RATING, 2023–2028 (USD MILLION)157
TABLE 122EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2018–2022 (USD MILLION)157
TABLE 123EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OWNERSHIP TYPE, 2023–2028 (USD MILLION)157
TABLE 124EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2018–2022 (USD MILLION)157
TABLE 125EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY OPERATION TYPE, 2023–2028 (USD MILLION)158
TABLE 126EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)158
TABLE 127EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)158
TABLE 128EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (KW)159
TABLE 129EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (KW)160
TABLE 130EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND)161
TABLE 131EUROPE: RESIDENTIAL ENERGY STORAGE MARKET, BY COUNTRY, 2023–2028 (USD THOUSAND)162
11.4.2GERMANY162
11.4.2.1Adoption of rooftop solar energy systems to accelerate market growth162
TABLE 132GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)163
TABLE 133GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)163
TABLE 134GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)163
TABLE 135GERMANY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)164
11.4.3ITALY164
11.4.3.1Superbonus 110% scheme to accelerate market growth164
TABLE 136ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)165
TABLE 137ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)165
TABLE 138ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)165
TABLE 139ITALY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)166
11.4.4UK166
11.4.4.1Strong focus on achieving grid independence to drive demand for residential energy systems166
TABLE 140UK: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)166
TABLE 141UK: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)167
TABLE 142UK: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)167
TABLE 143UK: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)167
11.4.5AUSTRIA168
11.4.5.1High difference between retail electricity prices and subsidized feed-in tariff to foster market growth168
TABLE 144AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)168
TABLE 145AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)169
TABLE 146AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)169
TABLE 147AUSTRIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)169
11.4.6FRANCE169
11.4.6.1Significant efforts to reduce greenhouse gas emissions to propel market growth169
TABLE 148FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)170
TABLE 149FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)170
TABLE 150FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)170
TABLE 151FRANCE: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)171
11.4.7NETHERLANDS171
11.4.7.1Withdrawing from net-metering schemes to support installation of ESS171
TABLE 152NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)171
TABLE 153NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)172
TABLE 154NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)172
TABLE 155NETHERLANDS: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)172
11.4.8SWITZERLAND173
11.4.8.1Government incentives and supportive policy framework to drive market growth173
TABLE 156SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)173
TABLE 157SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)173
TABLE 158SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)174
TABLE 159SWITZERLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)174
11.4.9SPAIN174
11.4.9.1Favorable national incentive package to install PV modules to fuel market growth174
TABLE 160SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)175
TABLE 161SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)175
TABLE 162SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)175
TABLE 163SPAIN: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)176
11.4.10BELGIUM176
11.4.10.1Investment in virtual power plants to boost market growth176
TABLE 164BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)176
TABLE 165BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)177
TABLE 166BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)177
TABLE 167BELGIUM: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)177
11.4.11POLAND178
11.4.11.1Government subsidies to install solar panels to support market growth178
TABLE 168POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)178
TABLE 169POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)178
TABLE 170POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)179
TABLE 171POLAND: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)179
11.4.12CZECH REPUBLIC179
11.4.12.1Favorable regulations for installation of smart home energy management systems to stimulate market growth179
TABLE 172CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)180
TABLE 173CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)180
TABLE 174CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)180
TABLE 175CZECH REPUBLIC: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)181
11.4.13BULGARIA181
11.4.13.1High investment in renewable energy projects to propel market growth181
TABLE 176BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)181
TABLE 177BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)182
TABLE 178BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)182
TABLE 179BULGARIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)182
11.4.14HUNGARY183
11.4.14.1Increased installed capacity of solar power plants to drive market183
TABLE 180HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)183
TABLE 181HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)183
TABLE 182HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)184
TABLE 183HUNGARY: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)184
11.4.15ROMANIA184
11.4.15.1Advancements in battery technology to spur demand for battery-powered ESS184
TABLE 184ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2018–2022 (USD THOUSAND)185
TABLE 185ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY TECHNOLOGY, 2023–2028 (USD THOUSAND)185
TABLE 186ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2018–2022 (USD THOUSAND)185
TABLE 187ROMANIA: RESIDENTIAL ENERGY STORAGE MARKET, BY CONNECTIVITY TYPE, 2023–2028 (USD THOUSAND)186