Energy Storage for Solar Systems Will Be an $8 Billion Market in 2026

Lux Research reported that distributed storage for solar systems will be worth $8 billion in 2026 as solar combines with storage in order to continue its remarkable growth.
According to the report:

Energy storage will increase the distributed solar market by 25 GW annually in 2026. Adding storage adds costs, affecting revenue streams and addressable market size, but as installed solar system costs decline — from $3.83/W in 2015 to $1.87/W in 2035 — an attractive economic case will emerge in 2023, leading to strong growth.

Cosmin Laslau, Lux Research Senior Analyst and lead author of the report titled, “Helping Renewables Shine On: Analyzing the New Business Cases Where Batteries Make Sense for Solar Systems” commented:

As the solar-plus-storage market matures, interesting developments will unfold on a number of fronts. There will be more vertical integration between the two industries, increased financing options and even a move towards energy-sharing between communities.

Click here to view the full report.