Worldwide Residential PV Storage Capacity to Reach 2.5 GW by 2017
Incentives and subsidies will drive the adoption of residential PV storage over the next 4 years, according a report by IHS. The residential segment for PV storage will experience a 200-fold increase, from a mere 12 MW today to 2.5 GW by 2017. The report also believes that more consumers will be looking to “self-consume”, instead of contributing excess power generated through PV to the central grid. One reason for this predicted trend is the escalation of commercial electricity prices. Plummeting FITs also serve as another disincentive for residential customers to transmit surplus energy in their storage devices to the grid.
Germany, with its German Energy Storage Subsidy, is viewed as the standard bearer for the market. Sam Wilkinson, co-author of the report, said that “not only will the incentive reduce the upfront cost of residential storage solutions deployed in Germany by up to 30%, it will also generate volume in this immature market — and price reductions achieved by mass production will also benefit installations in other countries.”
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