Residential energy storage (around 5 kWh) and community energy storage (around 100 kWh) offer levelized cost of electricity below retail rates and are favorable in a small number of large-volume regional markets, including Japan and the United Kingdom.
However, residential-level energy storage accounts for only 30 MWh of installed capacity on the grid as of December 31, 2011, leaving many with cause to pause for thought.
In reality, residential energy storage faces an uphill battle. Homeowners in select regions stand to benefit from storage, but it will require time and attention before they are prepared to purchase their own units. Utilities, on the other hand, are not convinced that costly, potentially volatile, distributed assets are the answer to their problems. Therefore, while economic demand is high, actual market growth may be delayed by years, making residential storage a long-term gamble rather than a near-term growth opportunity.
If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.