The U.S. solar energy storage market is alive and thriving — and not just for off-grid photovoltaic installations.
According to a new report from GTM Research, the residential battery market is shifting gears in 2017. This year will be the first time that energy storage for residential grid-tied PV system installations across the country outnumbers storage deployments for off-grid home photovoltaic systems.
Residential Solar Energy Storage Statistics for 2016
Due to the nature of off-grid residential deployments, data isn’t easy to find. However, off-grid PV applications have always dominated the U.S. battery storage market.
According to the report, this held true for the 127 megawatt-hours of storage deployed in 2016. Researchers estimate that of the 4,400 residential solar battery systems installed throughout the country, 86 percent were for off-grid photovoltaic homes.
Growth in Solar Storage for Residential Grid-Tied PV System Installations
In 2017, GTM Research expects a major about-face in the U.S. solar battery market.
When statistics are compiled at the end of the year, researchers predict that 57 percent of the annual deployments will be for residential grid-tied solar systems. So for the first year ever, off-grid PV applications will no longer take the lead in the battery storage market.
Even more impressive is the future expected growth in solar energy storage for grid-tied home photovoltaic systems. By 2022, residential solar battery systems will make up a whopping 99 percent of total annual deployments.
Why the surge in the on-grid energy storage market? Homeowners have two main reasons to install battery systems — backup power and saving money. But the utilities are also involved in the market transformation, as they’re encouraging battery installation to help lessen the effects of photovoltaic penetration in the marketplace.
Should You Consider Solar Storage for Your Grid-Tied PV System?
A battery system isn’t a must for a residential grid-tied solar installation — when the sun isn’t shining, your home can run on electricity from the utility grid.
That said, adding solar storage can be a wise investment, particularly if your utility company has unfavorable rate policies. Time-of-use rates and demand charges can increase the amount you have to pay for municipal electricity. And if your state or utility doesn’t offer retail rate net metering, there’s not as much of a financial benefit in sending your excess solar energy to the grid.
In addition, if you’re in need of a reliable source of backup electricity, you may want to consider installing a battery storage system. When your home PV system is connected to the grid, you’ll lose power during an outage. With solar batteries, you’ll never be left in the dark.
Interested in learning about the storage options for residential grid-tied PV systems? Intermountain Wind & Solar, the region’s leading residential and commercial photovoltaic provider, offers free consultations to homeowners and businesses throughout Utah, Nevada, Idaho, Colorado and Wyoming. Contact us today to discuss solar energy storage for your residential grid-tied PV system.