U.S. Solar-With-Storage Market is About to Surge: GTM
Solar photovoltaics with battery back-up will grow from $48 million in 2014 to a $1-billion market with 318 megawatts of installed capacity by 2018, according to a report by GTM Research.
“Most of the growth will be in California, the current leader in solar PV and grid batteries, and other states with grid storage incentives or utility-driven procurements under way, like New York and Hawaii,” Greentech Grid reports. “These are also key target markets for the four of the country’s top 10 residential solar installers now offering energy storage, notably SolarCity and NRG Energy.”
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The states that are expected to lead in the solar-storage market “share key characteristics, such as relatively high electricity rates and a growing share of power coming from customer-owned rooftop PV, that are driving solar-storage system paybacks,” St. John writes. By 2018, “nearly one in 10 commercial and industrial solar installations will come with batteries.”