Press release
Solar Energy Storage Market Astonishing Growth | Top Competitors like Carnegie Clean Energy, BMW, Kokam, BYD, Primus Power, Samsung, Maxwell Technologies, EnerSys, LG Chem, Leclanche, FIAMM, Vionx BAE
Asia Pacific solar energy storage market is anticipated to exceed 40% by 2025. Stringent government norms coupled with public and private investments in renewable energy solutions across the region inculcating partial decarbonization activities will positively influence the business outlook. Growing investor inclination toward new renewable projects after post-COP21 agreement has witnessed a rapid expansion of the conventional bond industry. The existing regulatory policies and fiscal incentives across the region favor these prospects. Moreover, solar is a relatively abundant and effective energy source which enhances its penetration in many countries inducing long-term policies to emphasize renewable growth in their overall conventional energy portfolio.
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Solar Energy Storage Market in 2018 valued over USD 170 million and is predicted to grow over 35% CAGR by 2025. Strict regulatory norms in line with rising environmental concerns to reduce emissions through the installation of effective energy conservation measures will boost the industry growth. Moreover, ongoing technological advancements & upgrades to provide a cost-competitive business outlook will augment the industry dynamics.
Large scale investments has benefitted lithium ion segment on account of their deployment across a wide range of applications. Rapid inclination toward cost reduction potential through an increase in competitive supply chains, material improvements and scale of production capacity will positively influence the product demand. In addition, large scale technological development of EVs favored by ongoing solar integration will augment the industry dynamics.
Off-grid conventional energy solutions, including mini-grids & stand-alone systems, to provide access to energy have appeared as a prominent, cost-competitive solution. Growing inclination toward research and development have decreased technology costs which favor the innovation in financing catering & delivery models including local entrepreneurs, private sector & the communities. Henceforth, positive consumer tendencies along with positive industry and regulatory outlook to incorporate a sustainable energy scenario will complement business outlook.
Favorable government norms on account of self-consumption and subsidies from grid operators & distribution companies with an aim to achieve grid feed-in will augment the business potential. Moreover, the industry is anticipated to gain momentum on account of PV installation on small scale systems and substantial growth potential across applications behind the meters. Furthermore, BES integration will increase owing to declining costs along with batteries retrofitting with small scale photovoltaics are the key factors driving energy storage demand.
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Product flexibility, competitive pricing, reliability and brand value are few key factors to validate solar energy storage market competitiveness. Moreover, extensive R&D investments and self-attained product patents coupled with flexible process implications across the integrated distribution channels, have further augmented the business portfolio. Prominent solar energy storage market players include Carnegie Clean Energy, BMW, Kokam, BYD, Primus Power, Samsung, Maxwell Technologies, EnerSys, LG Chem, Leclanche, FIAMM, Vionx BAE, Saft, Adara Power, Ecoult and Aquion.
Table of Content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Solar Energy Storage Industry Insights
Chapter 4. Global Solar Energy Storage Market, By Composition
Chapter 5. Global Solar Energy Storage Market, By Capacity
Chapter 6. Global Solar Energy Storage Market, By Installation
Chapter 7. Global Solar Energy Storage Market, By Region
Chapter 8. Company Profiles
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Related Report:
Global Residential Solar Energy Storage System Market Insights, Forecast to 2025
The Residential Solar Energy Storage System market was valued at Million US$ in 2018 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Residential Solar Energy Storage System.
https://www.marketstudyreport.com/reports/global-residential-solar-energy-storage-system-market-insights-forecast-to-2025
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