A raise is predicted to come in the Residential PV storage global market
The latest report done by the research group IHS shows that installations of residential PV storage systems will go up to 2.5 GW until 2017. The report also says the Germany’s energy storage subsidy has quick started the flow.
If encouragements and With incentives and bonuses like FITs being cut keep coming, than it is highly desirable for end-consumers to self-consume. Lately, the idea of sending the extra energy generated by a PV system into the grid and retail electricity prices became very unattractive.
“Residential PV customers are striving to maximize their own consumption of the energy they are generating,” announced Abigail Ward, PV analyst at IHS. “This is because rising electricity prices and decreasing feed-in-tariffs (FITs) are serving as a disincentive for consumers to export their power to the electricity grid”, he added.
The total amount of installations is said to grow up to 2.5 GW by 2017, a leap from 12 MW in 2012. The number of PV residential energy storage installations is predicted to be higher than the total number of residential solar systems in Germany today.
“An energy storage solution enables a PV system owner to shift energy from when it is generated to a later time for consumption,” in Ward’s terms . “As a result, demand for residential energy storage products will continue to accelerate as PV energy reaches grid-parity in a number of countries.”
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