Global Residential Solar Energy Storage Market Overview
Residential solar energy storage equipment can harness the sun’s light and store it in the form of solar energy with the assistance of solar panels. The
global residential solar energy storage market size can reach USD 100 million by 2026, according to the latest report by Market Research Future (MRFR). It can exhibit a stellar CAGR of 14% over the forecast period (2020-2026). The demand for solar energy generation and initiatives by governments for eliminating dependence on fossil fuels can drive the market growth.
Sustainable electricity generation for combating the levels of carbon monoxide globally is one of the major drivers of the market. Depletion of fossil fuel reserves and environmental concerns can drive the demand for residential solar energy storage options. Non-electrified locations in rural outskirts are likely to leverage on surplus of sunlight in their region by installing solar panels. The use of these pan