Albany, NY, Jan. 21, 2016 (GLOBE NEWSWIRE) -- The report, titled “Global Residential Solar Energy Storage Market 2015-2019”, states that the global residential solar PV market, which has seen steady growth over the past four to five years, is greatly affected by the factor of energy storage.
As energy storage potential grants a solar PV unit the ability to store surplus energy for use during outages, it plays a vital role in the overall popularity of a PV system. Storage of power generated from PV cells is especially very useful when the energy generated is more than the demand. Storage of energy ensures smoother and regular supply of power and is a highly researched field.
With the rising demand for PV installations for residential purposes, the market for residential solar energy storage is also rising at a very high pace. The report states that the market is expected to expand at a 67.7% CAGR between 2014 and 2019.
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The report presents a detailed analysis of the present state of the global market for residential solar energy storage, evaluates the key elements of the market, and presents forecasts for the period between 2014 and 2019. The report studies the key drivers and restraints ahead of the market and analyzes their impact on the overall development of the market. Statistics regarding demand and supply dynamics of the market, an overview of the market’s regulatory framework, and competitive landscape are also given in the report.
The report also studies the key trends observed in the market in past years and the way they have affected the market’s development over the years. In the same way, the report also studies the trends prevalent in the current market and their effect on the future development of the market.
Browse Report description and TOC:
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The report segments the global market on the basis of two key criteria: battery technology and geography. On the basis of battery technology, the report segments the market into li-ion battery, lead-acid battery and others. Based on geography, the market is segmented into EMEA, APAC, and the Americas.
Of the key battery technologies available in the market, the market segment of lead-acid battery is expected to emerge as the largest market segment over the report’s forecast period. Factors such as the ability of lead-acid batteries to endure overcharging and eliminate voltage fluctuations by providing a continuous supply of power are expected to benefit the market for lead-acid batteries over the report’s forecast period. It is estimated that lead-acid batteries will gain around 78% share in the global market for residential solar energy storage by 2019.
The report also presents an overview of the competitive landscape of the global market for residential solar energy storage, analyzing financial and strategic business data of some of the leading businesses operating in the market. Detailed business profiles of some of the leading businesses are also presented in the report, which include companies such as VARTA Microbattery, C&D Technologies, BYD, Exide Technologies, Panasonic, GS Yuasa, LG Chem, and Samsung SDI.
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