Increasing electricity costs and grid demand charges, declining feed-in tariffs, and declining technology and projects costs all mean that energy storage is becoming a much more attractive proposition for consumers from household to heavy industry. The market has enjoyed high growth rates since 2015, but the volume of installations is still only a fraction of the true market potential. The next decade is likely to pivotal in the development of the market. Approximately $700 billion is forecast to be invested in decentralized solar PV in the decade and an increasing share of that will be combined with a battery energy storage system to maximize revenue potential and energy cost savings.

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