batteries for homes, businesses surged in u.s. in second quarter - home battery system1
(Reuters)-The U. S.
As utilities connected fewer large projects to the grid, the energy storage market fell by 11% in the second quarter, but due to state incentives in California and Hawaii and lower technology prices, batteries deployed in homes and businesses have set a record. Overall, the U. S.
During this period, 38 MW of new energy storage was deployed, down from 42 MW.
According to a report released by GTM Research and the Energy Storage Association on Thursday, it was 8 MW a year ago.
More than 40% of them are installed in homes and businesses, up from 9% in the first quarter.
According to GTM analyst Ravi Manghani, the energy storage market is still small but growing rapidly as the cost of the battery system is down 10 to 15% from last year.
Batteries can help solve the intermittent nature of solar power generation, but the cost is still high and they need government support to provide financial support to their customers.
For example, California requires utilities to purchase energy storage systems to help ensure a reliable power supply following a major gas leak near Los Angeles.
These systems have created a surge in utilities.
The storage market at the end of 2016 and the first quarter of 2017, so the decline in the second quarter is expected.
California is the largest market for residential and commercial facilities, with 604 KW and 12,030 KW respectively, thanks to a national incentive plan that can halve the cost of batteries.
Earlier this year, state regulators doubled funding for the project.
Top battery manufacturers include Tesla, LG Chemical, and Samsung SDI.
Businesses are increasingly using batteries to reduce high utility costs based on peak demand.
The home battery system allows customers to store solar energy generated during the day for use after the day.
But most homeowners who buy batteries paired with solar systems want the batteries to be used primarily for backup power in the event of a power outage, Manghani said.
Hawaii is the second.
The largest residential storage market in 552 KW.
Due to the very high electricity bill and the lack of a net metering plan, the battery is an attractive option for many homeowners in Hawaii.