Advanced System Launches to Drive Global Residential ESS Market

The global residential Energy Storage System (ESS) market is anticipated to grow at a considerable CAGR of 23.8% during the forecast period (2023-2030). Advanced residential ESS launches are anticipated to drive the growth of the global residential ESS market. In May 2023, LG Energy Solution unveiled a new residential ESS “Prime+” featuring flexible capacity that meets individual home backup needs of American households. The Prime+ storage solution connects two 10H or 16H Prime battery modules in parallel to offer a capacity of 19.2-32kWh, with a maximum output of 9.6kW from the inverter. The simple modular architecture of the batteries and the plug-and-play design of the inverter ensure easy installation and unparalleled compatibility with any existing PV systems. 

Browse the full report description of “Residential ESS Market Size, Share & Trends Analysis Report by Technology Type (Li-Ion Batteries, Lead-Acid Batteries, and Other Technologies) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/residential-energy-storage-system-market

Further, in June 2023, US-based startup Lunar Energy introduced a residential integrated energy management cabinet system that stores solar energy on 5 kWh battery system to provide up to 30 kWh of backup power. The company has announced the release of its first consumer hardware product, Lunar System, which is a residential distributed generation cabinet that integrates rooftop solar generation, battery storage, and load control in one product suite. The DG cabinet by the company features the Lunar Battery, a lithium-ion battery with capacities ranging from 10 kWh to 30 kWh, in 5 kWh increments, along with a 10 kW hybrid inverter to support home HVAC systems and household appliances.

Furthermore, in September 2022, AlphaESS launched its residential ESS for the North American market at this year's RE+ (SPI) expo, following the inauguration of the new office and service center in Denver, Colorado. The two variations of the UL-certified systems, SMILE-SP and SPB series, are available with AC and DC coupling to meet the different needs of consumers, with a 7.6/9.6kW Hybrid Inverter and a standard 8.2kWh battery pack which can support max 11.5kWp /15kWp PV input and expandable to 49.2 kWh.

Market Coverage

• The market number available for – 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

• Segment Covered- 

o By Technology Type

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- Tesla Inc., Panasonic Holdings Corp., Sonnen GmbH, VARTA AG, and Enphase Energy Inc. among others.

Key questions addressed by the report

• What is the market growth rate?

• Which segment and region dominate the market in the base year?

• Which segment and region will project the fastest growth in the market?

• Who is the leader in the market?

• How players are addressing challenges to sustain growth?

• Where is the investment opportunity?

Global Residential ESS Market Report Segment

By Technology Type

• Li-Ion Batteries
• Lead-Acid Batteries
• Other Technologies

Global Residential ESS Market Report Segment by Region

North America

• United States

• Canada

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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