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Residential ESS Market Is Likely to Experience a Tremendous Growth by 2029

09-27-2023 01:26 PM CET | Energy & Environment

Press release from: Orion Market Research

Residential ESS Market Is Likely to Experience a Tremendous

The global residential Energy Storage System (ESS) market is anticipated to grow at a considerable CAGR of 23.8% during the forecast period (2023-2030). Advanced residential ESS launches are anticipated to drive the growth of the global residential ESS market. In May 2023, LG Energy Solution unveiled a new residential ESS "Prime+" featuring flexible capacity that meets individual home backup needs of American households. The Prime+ storage solution connects two 10H or 16H Prime battery modules in parallel to offer a capacity of 19.2-32kWh, with a maximum output of 9.6kW from the inverter. The simple modular architecture of the batteries and the plug-and-play design of the inverter ensure easy installation and unparalleled compatibility with any existing PV systems. 

Further, in June 2023, US-based startup Lunar Energy introduced a residential integrated energy management cabinet system that stores solar energy on 5 kWh battery system to provide up to 30 kWh of backup power. The company has announced the release of its first consumer hardware product, Lunar System, which is a residential distributed generation cabinet that integrates rooftop solar generation, battery storage, and load control in one product suite. The DG cabinet by the company features the Lunar Battery, a lithium-ion battery with capacities ranging from 10 kWh to 30 kWh, in 5 kWh increments, along with a 10 kW hybrid inverter to support home HVAC systems and household appliances.

Furthermore, in September 2022, AlphaESS launched its residential ESS for the North American market at this year's RE+ (SPI) expo, following the inauguration of the new office and service center in Denver, Colorado. The two variations of the UL-certified systems, SMILE-SP and SPB series, are available with AC and DC coupling to meet the different needs of consumers, with a 7.6/9.6kW Hybrid Inverter and a standard 8.2kWh battery pack which can support max 11.5kWp /15kWp PV input and expandable to 49.2 kWh.

To Request a Sample of our Report on Residential ESS Market :  https://www.omrglobal.com/request-sample/residential-energy-storage-system-market

Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030

Segment Covered- 

o             By Technology Type

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- Tesla Inc., Panasonic Holdings Corp., Sonnen GmbH, VARTA AG, and Enphase Energy Inc. among others.

A full Report of Residential ESS Market is Available @  https://www.omrglobal.com/industry-reports/residential-energy-storage-system-market

Residential ESS Market Report Segment

By Technology Type

Li-Ion Batteries
Lead-Acid Batteries
Other Technologies

 Residential ESS Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

ABB Ltd. 
BYD Company
Deutsche Energieversorgung GmbH (SENEC)
Eaton Corp.
Eguana technologies, Inc. 
Enphase Energy, Inc.
Hitachi energy Ltd.
Huawei Technologies, Co. Ltd.
LG Energy Solution Ltd.
Panasonic Corp.
Saft Groupe SA
Samsung SDI Co. Ltd.
Siemens AG
Sonnen GmbH
Sunverge Energy LLC
Tesla Inc.
VARTA AG 

Reasons to buy from us -

We cover more than 15 major industries, further segmented into more than 90 sectors.
More than 120 countries are for analysis.
Over 100+ paid data sources mined for investigation.
Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/residential-energy-storage-system-market

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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