Commercial Energy Storage Market – Increasing demand for uninterrupted and reliable power supply and the rise in adoption of solar rooftop systems by the Commercial sector is also expected to drive the growth of the market studied.
According to TechSci Research report, “Global Commercial Energy Storage Market – By Region, Competition, Forecast & Opportunities, 2028”, The Global Commercial Energy Storage Market is expected to register CAGR of 6.25%.The Commercial energy storage policies till now are quite nascent. However, countries, such as the United States and Germany, through state policy action and regulatory action, are creating opportunities in the local energy storage markets. The Commercial energy storage system growth is primarily driven by spurring demand for electric vehicles to mitigate carbon emission.
Moreover, the growing demand for uninterrupted power supply and frequent power outage in remote areas are likely to strengthen market prospects. Also, the Commercial energy storage system assists the grid in maintaining reliability and resilience in operation, which eliminates bottlenecks in the transmission and distribution of energy.
Transformation in Germany’s energy mix has been taking place for the past few years. Rooftop solar accounted for a significant share of Germany’s total solar energy generation, mainly due to advanced supporting mechanisms introduced in the past, such as grants and loans for roof programs. In 2021, Germany introduced a reform of Renewable Energy Law or EEG 2021, which incorporates the exemption of EEG levy for the owners of PV systems for self-consumption not exceeding 30kW in size. Under the previous rules, this limit was set at 10 kW. This EEG levy is likely to boost the German Commercial battery market as most Commercial systems are in the aforementioned range.
Further, in March 2022, the Institute for Power Electronics and Electrical Drives (ISEA) and RWTH Aachen University found that the home storage systems (HSS) accounted for 93% of the 1,357 MWh of new energy capacity installed in 2021, while the rest 7% includes industrial and large-scale storage segments.
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As of January 2022, the United Kingdom registered 13.79 GW installed solar capacity, and 26% (3.25 GW) of the total capacity has come from solar PV installations below 10 kW, mainly consisting of Commercial rooftop solar photovoltaic consumers.
In the United Kingdom, an average resident consumes between 3kWh and 6kWh of energy daily; accordingly, system sizes may vary. One of the most common system capacities installed is a 4-kW system, which is suited to satisfy the energy needs of three-four people. However, a 5kW solar PV system is typical for a home with four-five people, while a 6kW solar panel system is suggested for a home with over five residents. Hence, most Commercial PV systems have a capacity below 10 kW in the country.
Moreover, Italy introduced a new super bonus incentive scheme, which gives the possibility of obtaining a tax credit of 110% for the expense from July 2020 until 2023, encouraging energy efficiency interventions. However, to benefit from the super bonus, the PV and the storage system must be installed in conjunction with one of the main interventions. The overall investments made must lead to an improvement of an energy efficiency rating. In case of ineligibility, obtaining the 10-year 50% tax credit already in place for small-scale PV generation assets and BESS is possible.
Key market players in the Global Commercial Energy Storage Market include:
- Tesla, Inc.
- LG Chem Ltd.
- Sonnen GmbH.
- Enphase Energy, Inc.
- Sunrun Inc.
- Panasonic Corporation.
- Orison.
- Eguana Technologies Inc.
- Pika Energy.
- BYD Company Limited
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“As of February 2020, LG Chem and Span.IO, Inc. launched a battery storage and intelligent home energy control system which enables customizable backup power. The system ensure home loads remains powered in the event of power outage. Highly reliable system is suitable for Commercial battery storage and backup power. In addition, In January 2020, Kyocera and 24M recently unveiled its Commercial energy storage system, Enerezza.
It is the world’s first system built using 24M’s novel SemiSolid electrode manufacturing process. The product is designed to meet varied energy demand and available in 5 kWh, 10kWh, and 15kWh. Hence market is expected to grow during the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Commercial Energy Storage Market – Global Industry Size, Share, Trends, Opportunity, and ForecastSegmented By Technology Type (Lithium-ion Batteries, Lead-acid Batteries, and Other Technology Types), By Power Rating (3-6 kW, 6-10 kW, 10-20 kW), By Connectivity (On-Grid, Off-Grid), By Operation (Standalone, Solar), By Region, Competition 2018-2028has evaluated the future growth potential of Global Commercial Energy Storage Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Commercial Energy Storage Market.
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