Solar Energy Storage Market Analysis- Annual Installations to Exceed 3 GW Over 2019-2025

The global solar energy storage market is expanding at an unprecedented pace owing to the increased adoption of renewable energy sources by various sectors of the economy to replace the traditional forms of energy usage. Additionally, numerous initiatives of businesses and government agencies to explore sustainable and efficient power sources and their storage has contributed to the enhancement of solar energy storage industry share.

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The Li-ion batteries require low maintenance and do not require scheduled recycling. Their self-discharge technique is less as compared to other batteries making them well suited for modern fuel gauge applications. Several automotive companies are preferring Li-ion batteries, for instance, Toyota has deployed solar rooftops at its facilities and aims to explore synergies with lithium ion batteries. These module-based batteries will be provided with stationary storage for solar energy which may reduce the cost of energy storage. The need to store solar energy for further use by way of charging the electric vehicles will propel solar energy storage market outlook over the forecast years.

The Li-ion batteries require low maintenance and do not require scheduled recycling. Their self-discharge technique is less as compared to other batteries making them well suited for modern fuel gauge applications. Several automotive companies are preferring Li-ion batteries, for instance, Toyota has deployed solar rooftops at its facilities and aims to explore synergies with lithium ion batteries. These module-based batteries will be provided with stationary storage for solar energy which may reduce the cost of energy storage. The need to store solar energy for further use by way of charging the electric vehicles will propel solar energy storage market outlook over the forecast years.

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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Similarly, the adaption of solar power ranging from the production of electricity to its usage in electric cars has further steered solar energy storage industry trends. Several investments from major companies like Samsung, LG Chem, BMW, Maxwell Technologies, Primus Power and others have eased the availability of efficient storage solutions and created future opportunities in the sector. According to a report by Global Market Insights Inc., solar energy storage market is estimated to exceed an annual installation of 3 GW by 2025.

Major Key Points from Table of Content:

Chapter 4    Global Solar Energy Storage Market, By Composition

4.1    Global Solar Energy Storage Industry share by composition, 2018 & 2025

4.2    Lead acid

4.2.1    Global market from lead acid, 2014 – 2025

4.2.2    Global market from lead acid, by region, 2014 – 2025

4.3    Lithium ion

4.3.1    Global market from lithium ion, 2014 – 2025

4.3.2    Global market from lithium ion, by region, 2014 – 2025

4.4    Flow battery

4.4.1    Global market from flow battery, 2014 – 2025

4.4.2    Global market from flow battery, by region, 2014 – 2025

4.5    Others

4.5.1    Global market from others, 2014 – 2025

4.5.2    Global market from others, by region, 2014 – 2025

Chapter 6    Global Solar Energy Storage Market, By Installation

6.1    Global solar energy storage market share by installation, 2018 & 2025

6.2    On-grid

6.2.1    Global market from on-grid, 2014 – 2025

6.2.2    Global market from on-grid, by region, 2014 – 2025

6.3    Off-grid

6.3.1    Global market from off-grid, 2014 – 2025

6.3.2    Global market from off-grid, by region, 2014 – 2025

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