The report, now available on ASDReports recognizes the following companies as the key players in the Global Residential Solar Energy Storage Market: BYD, Samsung SDI, C&D Technologies, Exide Technologies, GS Yuasa, LG Chem, Panasonic and VARTA Microbattery
Commenting on the report, an analyst said: “Governments in MEA have set strong regulatory frameworks to promote renewable power. Policy deployment and target setting are ongoing phenomena in the region. The success of large-scale deployment of renewable energy installations in MEA can be attributed to the robust regulatory framework prevalent across all countries, which includes policies such as renewable energy targets, renewable energy plans, tradable renewable energy, capital subsidy, and energy production payment. We expect the stringent regulatory framework to play an important role in boosting the growth of renewable energy in MEA.”
According to the report, the availability of PV inverters that are integrated with energy storage devices is another factor driving market growth. These inverters help in efficient load management among industries in the renewable energy sector by ensuring a continuous power supply in the grid and minimal interruptions. Also, they increase the reliability of the power grid. Thus, through such integrations, PV inverters have come a long way from being just a simple inverter to being capable of performing important tasks such as connecting the solar grid to the smart grid and enabling power storage.
Further, the report states that we note that the electricity generation industry currently offers guidelines but does not enforce standards in terms of dealing with PV systems. Technavio suggests that the North American Board of Certified Energy Practitioners’ certification process would likely boost quality, reduce accidents, improve guidelines, and bring down the costs and insurance premiums for solar PV installations.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Nov 2, 2015