June 7, 2018 Read More →

California, Hawaii markets drive surge in residential storage

Greentech Media:

The historically tiny residential energy storage segment won big in Q1 2018, according to the latest deployment data.

Utility-scale projects, the usual workhorse of the energy storage industry, dropped massively compared to last year’s Q1, when the Aliso Canyon procurements came online and set a record for energy capacity. What saved the quarter from historically low performance turned out to be the aggregate growth of all the little systems popping up in customers’ homes.

“Residential storage has been growing in popularity and prominence,” said Brett Simon, senior analyst at GTM Research. “It’s getting cheaper. Folks are more aware of it and are asking for it. Solar installers are doubling down on it as a new business model.”

Residential deployments beat commercial deployments, 15.9 megawatts to 11.7 megawatts, according to the latest Energy Storage Monitor from GTM Research and the Energy Storage Association. Even more impressively, home batteries rivaled utility-scale deployments, which only clocked in at 16 megawatts.

That’s an unprecedented and jolting development that is worth emphasizing. Ever since GTM Research began tracking storage deployments in 2013, residential batteries appeared as the faintest of slivers on the industrywide bar graph, nonzero but totally insubstantial.

Dialing into the numbers, it’s clear that California and Hawaii drove this newfound strength with state-level growth that merits no less than the technical designation: “bonkers.”

More: Residential batteries almost beat out utility-scale deployments last quarter

 

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