DUBLIN--(BUSINESS WIRE)--Aug 3, 2018--The "Global Residential Energy Storage Systems Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The expanding residential solar PV industry, rising electricity costs, reduction in system costs, and preference toward the use of clean and locally generated electricity for more energy independence, are some of the factors driving the residential energy storage market. Evolving business models and involvement of utilities in residential energy storage space is expected to further enhance the adoption of residential energy storage systems (RESS).

Over the past decade, solar photovoltaic (PV) power has experienced dramatic deployment growth, coupled with substantial decreases in system prices. Battery storage systems are increasingly being combined with residential solar PV installations because of their ability to make solar dispatchable by supplying stored electricity at later times of the day, when it would be more economical to do so.

In the RESS market, Asia-Pacific holds the majority share in terms of revenue. Australia, Japan, China, and India are the key regions, and they are likely to exhibit immense growth potential over the forecast period. Japan is one of the leading countries in terms of renewable energy integration. The country is promoting installation of batteries in homes by providing various incentives.

In India, several key factors are driving the market for energy storage, perhaps most notably, the ambitious National Solar Mission. In 2014, Prime Minister Narendra Modi announced a national target to install 100 GW of solar PV capacity by 2022, which would make the country one of the largest solar power markets in the world.

Companies Mentioned

Deutsche Energieversorgung GmbH Hitachi Chemical Co. Ltd LG Chem Ltd Panasonic Corporation Saft Groupe SA Samsung SDI Co. Ltd Sonnen GmbH Sunverge Energy LLC Tesla Inc.

Key Topics Covered:

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Value Chain Analysis

6. Industry Attractiveness - Porter's Five Force Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

10. Competitive Landscape

11. Appendix

For more information about this report visit https://www.researchandmarkets.com/research/mnbzhf/global?w=4

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SOURCE: Research and Markets

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PUB: 08/03/2018 11:31 AM/DISC: 08/03/2018 11:31 AM

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