For anyone who has been paying attention to energy trends over the last year, it’s clear that energy storage is huge in the residential solar market. In fact, according to a recent Wood Mackenzie U.S. Energy Storage Monitor report, Q2 of 2020 saw residential battery installations grow 38% compared to Q1, indicating that installations have remained resilient in spite of the pandemic. Though, even as some homeowners put solar installation plans on hold during the COVID-19 crisis, the urgency of tax credits — which end next year — can’t be ignored.
But after energy storage becomes a mainstay of the solar industry, what’s next? While solar + storage is expected to continue to grow in popularity, the overall energy storage market is projected to reach $6.9 billion annually by 2025. The future is bright as we look to more opportunities to advance solar energy and increase homeowners’ control over their home energy systems.
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