What's driving the U.S. Energy Storage Market growth? ABB, Tesla, E. ON, Johnson Controls, LG Chem, TraneThe U.S. Energy Storage Market analytical summative by DEC Research is a thorough study on the latest market trends prevailing in the global business sphere. The report also offers important details pertaining to market share, market size, profit estimations, applications and statistics of this industry. The report further presents a detailed competitive analysis including growth strategies adopted by key players of the industry.
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Growing penetration of intermittent renewable power into the grid coupled with favorable policies and monetary support for energy storage will drive the U.S. residential energy storage market. Hawaii and California together account for a significant share of total residential energy storage across the country with fresh participation expected from Massachusetts and Arizona in the coming years. Reduction in net metering compensation along with introduction of time of use tariffs by utilities will further stimulate the industry growth.
Leading Key Players in U.S. Energy Storage Market are:
o Duke Energy
o E. ON
o East Penn Manufacturing Co. Inc.
o EDF Renewable Energy
o Fluence Energy
o GE Power
o Invenergy LLC
o Johnson Controls Inc.
o LG Chem
o NextEra Energy
o Aquion Energy
Growth Drivers of U.S. Energy Storage Market
o Declining costs of components
o Increasing risks of grid disruption
o Growing share of renewables
o Favorable policy framework
o Procurement mandates/targets
o Incentive programs
o Clean energy standards
The U.S. lithium ion energy storage market is set to grow on account of constantly declining technology costs primarily driven by economies of scale in manufacturing. Li-ion batteries find use across numerous applications comprising frequency regulation, residential solar storage and E-V charging stations amongst others. High energy density and appreciable coulombic efficiency are some of the primary features that will persistently fuel the product deployment over its available conventional alternatives.
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Utility energy storage market is predicted to surpass USD 1.5 billion by 2024. Growing significance of grid stability, with the implementation of sustainability, resilience, and efficiency will positively influence the industry growth. Aging grid infrastructure and rising concerns over climate change will further fuel the business growth.
Table Of Content:
2. Research Methodology
3. Report Summary
4. U.S. Energy Storage Market Overview
-Porter& Five Forces Analysis
5. U.S. Energy Storage Industry Review, By Product
6. U.S. Energy Storage Industry Summary, By Application
7. U.S. Energy Storage Industry Outline, By Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
8. Competitive Overview
9. Company Profiles: 1,2,3,4,5
Read More About Energy Storage Market At https://www.globenewswire.com/news-release/2019/08/06/1897334/0/en/Energy-storage-systems-Market-to-hit-500-billion-by-2025-Global-Market-Insights-Inc.html
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