- What is the size of the RESS marketplace overall and for specific technologies?
- Are battery-based RESS solutions expected to displace the use of fossil-fuel gensets?
- What are the benefits of battery-based RESS in addition a home backup power source during a grid outage?
- How are supply chain issues expected to affect forecasts in the short and long term?
- How do the RESS sales channels affect revenue in the coming decade?
1Q 2022
Market Data: Residential Energy Storage Systems
Energy Storage Technologies for Residential Applications: Global Capacity and Revenue Forecasts
Residential energy storage systems (RESSs) allow homeowners to exert a degree of control over the power within their residence rather than passively relying on the local utility for service. Three technology options exist for RESS solutions. The traditional approach that has been available for decades is a fossil fuel-based genset. The second option is a battery-based storage system, and the third option involves thermal energy storage (TES), where a substance is kept in an insulated container for later use providing heat or cooling to the residence.
An increasing number of homeowners are investing in RESS solutions to reduce inconveniences associated with power outages and in some cases, reduce costs and increase their use of renewable power. While gensets continue to be popular, the most significant trend is the increasing adoption of battery-based RESSs. This trend follows the increasing adoption of solar panels by homeowners because the sale of battery-based RESSs is almost always accompanied by solar panels.
This Guidehouse Insights report examines the global market for RESS solutions that offer homeowners the ability to manage or dispatch power independent of the power grid. Market conditions, technology issues, and trends are analyzed to forecast the continued adoption and success of these systems. The report includes estimates of power capacity sold annually, cumulative capacity, and vendor revenue forecasts from 2021 to 2030 for five global regions (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Pages
27
Tables | Charts | Figures
47
Key Questions Addressed
Who Needs This Report
- Genset manufacturers
- Solar panel manufacturers
- Battery manufacturers
- Home automation system manufacturers
- Advanced thermostat manufacturers
- Home energy report manufacturers
- Utilities
- Electrical contractors
- Investor community
Table Of Contents
1. Executive Summary
1.1 Key Market Trends
1.2 Market Outlook
2. Market Issues
2.1 Market Overview
2.1.1 Residential Energy Storage Application Overview
2.2 Market Drivers
2.2.1 Resilience, Safety, and Convenience Benefits of RESSs
2.2.2 More Resilience, Safety, and Convenience Benefits from Battery-Based RESSs
2.3 Market Barriers
3. Market Forecasts
3.1 Introduction and Methodology
3.2 Global Forecasts
3.2.1 RESS Forecasts by Geography
3.2.2 Battery-Based Residential Energy Storage
3.2.3 Fossil Fuel Gensets
3.2.4 TES
4. Conclusions and Recommendations
5. Acronym and Abbreviation List
6. Table of Contents
7. Table of Charts and Figures
8. Scope of Study, Sources and Methodology, Notes
List of Charts and Figures
- RESS Annual Power Capacity
Deployments by Technology, World Markets: 2021-2030
- RESS Cumulative Power Capacity Deployments by Technology, World Markets: 2021-2030
- RESS Annual Vendor Revenue by Technology, World Markets: 2021-2030
- RESS Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Battery-Based RESS Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Battery-Based RESS Cumulative Power Capacity Deployments by Region, World Markets: 2021-2030
- Battery-Based RESS Annual Vendor Revenue by Region, World Markets: 2021-2030
- Fossil Fuel-Powered Genset Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Fossil Fuel-Powered Genset Annual Vendor Revenue by Region, World Markets: 2021-2030
- Thermal
Energy Storage Annual Power Capacity Deployments by Region, World Markets:
2021-2030
List of Tables
- RESS Annual Power Capacity Deployments by Technology, World Markets: 2021-2030
- RESS Annual Power Capacity Deployments by Technology, North America: 2021-2030
- RESS Annual Power Capacity Deployments by Technology, Europe: 2021-2030
- RESS Annual Power Capacity Deployments by Technology, Asia Pacific: 2021-2030
- RESS Annual Power Capacity Deployments by Technology, Latin America: 2021-2030
- RESS Annual Power Capacity Deployments by Technology, Middle East & Africa: 2021-2030
- RESS Cumulative Power Capacity Deployments by Technology, World Markets: 2021-2030
- RESS Cumulative Power Capacity Deployments by Technology, North America: 2021-2030
- RESS Cumulative Power Capacity Deployments by Technology, Europe: 2021-2030
- RESS Cumulative Power Capacity Deployments by Technology, Asia Pacific: 2021-2030
- RESS Cumulative Power Capacity Deployments by Technology, Latin America: 2021-2030
- RESS Cumulative Power Capacity Deployments by Technology, Middle East & Africa: 2021-2030
- RESS Annual Vendor Revenue by Technology, World Markets: 2021-2030
- RESS Annual Vendor Revenue by Technology, North America: 2021-2030
- RESS Annual Vendor Revenue by Technology, Europe: 2021-2030
- RESS Annual Vendor Revenue by Technology, Asia Pacific: 2021-2030
- RESS Annual Vendor Revenue by Technology, Latin America: 2021-2030
- RESS Annual Vendor Revenue by Technology, Middle East & Africa: 2021-2030
- RESS Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- RESS Cumulative Power Capacity Deployments by Region, World Markets: 2021-2030
- RESS Annual Vendor Revenue by Region, World Markets: 2021-2030
- Battery-Based RESS Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Battery-Based RESS Cumulative Power Capacity Deployments by Region, World Markets: 2021-2030
- Battery-Based RESS Annual Vendor Revenue by Region, World Markets: 2021-2030
- Battery-Based RESS Annual Energy Capacity Deployments by Region, World Markets: 2021-2030
- Diesel Genset Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Diesel Genset Cumulative Power Capacity Deployments by Region, World Markets: 2021-2030
- Diesel Genset Annual Vendor Revenue by Region, World Markets: 2021-2030
- Natural Gas Genset Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Natural Gas Genset Cumulative Power Capacity Deployments by Region, World Markets: 2021-2030
- Natural Gas Genset Annual Vendor Revenue by Region, World Markets: 2021-2030
- Fossil Fuel-Powered Genset Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Fossil Fuel-Powered Genset Cumulative Power Capacity Deployments by Region, World Markets: 2021-2030
- Fossil Fuel-Powered Genset Annual Vendor Revenue by Region, World Markets: 2021-2030
- Thermal Energy Storage Annual Power Capacity Deployments by Region, World Markets: 2021-2030
- Thermal Energy Storage Cumulative Power Capacity Deployments by Region, World Markets: 2021-2030
- Thermal Energy Storage Annual Vendor Revenue by Region, World Markets: 2021-2030
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