Community and Residential Energy Storage Systems Market Increasing

July 9th, 2012 by Joshua S Hill

The Community and Residential Energy Storage (CRES) systems market is expected to experience sharp growth over the next 10 years as a result of the expansion of distributed solar photovoltaics capacity, the adoption of plug-in electric vehicles, and the spread of dynamic pricing programs, according to a new report released by Pike Research.

CRES systems are often located on the edge of the power grid, using a range of technologies, including flow batteries, advanced lead-acid batteries, and, most prevalently, lithium ion (Li-ion) batteries. Though, most of the market is still in the technical demonstration phase as developers continue to grow their understanding of the technical requirements of CRES.

The global market for these systems will grow from $19.2 million in 2012 to more than $872 million in 2022, the cleantech market intelligence firm forecasts. Total worldwide installed capacity for community and residential energy storage systems will reach 780 megawatts in 2022.

“The community and residential energy storage sector is still nascent, but market conditions, technology capabilities, and economics are beginning to align in a way that points to significant growth opportunities over the coming decade,” says research analyst Anissa Dehamna. “Several high-profile demonstration projects are currently underway, focused on delivering voltage support, load-leveling/peak-shifting, and islanding services, and aiming to experiment with frequency regulation and spinning reserve services further along in the project.”

Source: Pike Research
Photo Credit: Dolan Technology Center

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Tags: ces, Community and Residential Energy Storage, community energy storage, CRES, quickies, storage systems

About the Author

Joshua S Hill I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Pico

When you write 780 megawatts by 2022 do you mean 780 gigawatts?
- http://cleantechnica.com/ Zachary Shahan
  
  Pike says MW.
  
  just community and residential, not utility-scale.
  
  but find that these market research firms do tend to be conservative. will see what actually happens as prices drop and people realize they can combine solar & storage to save a lot of money.