Solar Energy and Battery Storage 2018 Market Size, Share, Growth Rate | Industry New Tech Developments, Comprehensive Analysis & Regional Outlook To 2023

 Market Highlights:-

Solar energy policies comprise legislation, international treaties, and incentives for investment, such as financial incentives in the U.S. In several countries, such as India, Germany, and the U.K, policies such as Feed-in-Tariff (FIT), Renewable Portfolio Standard (RPS), tax credits, pricing laws, production incentives, quota requirements, and trading systems have been developed and implemented to promote the use of solar energy, thus, driving the growth of the market. Moreover, growing need for an uninterrupted power supply with a substantial increase in power demand throughout the world is driving the global solar energy and battery storage system market. The global growth in industrial development activity and urbanization is making a path for the solar energy and battery storage market. However, high capital investments are restraining the market.

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Industry Major Key Players:-

  • eSolar Inc.
  • Abengoa S.A.
  • BB Ltd.
  • LG Chem, Ltd.
  • Samsung SDI Co., Ltd 
  • General Electric Company 
  • Tesla, Inc. 
  • AEG Power Solutions 
  • BrightSource Energy, Inc.  

Scope of the Report

This study provides an overview of the global solar energy and battery storage system market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the solar energy and battery storage system market by its battery type, solar technology, connection type, application, end-user and region.

By Battery Type

  • Lead-acid
  • Lithium ion
  • Sodium sulfur
  • Others

By Solar technology

  • Solar Photovoltaic (PV)
  • Concentrated Solar Power (CSP)
  • By Connection Type
  • On-Grid
  • Off-Grid

By Application

  • Load leveling
  • Peak shaving
  • Power demand
  • Others
  • By End-User
  • Utility
  • Industrial & Commercial
  • Residential

By Regions

  • North America 
  • Asia Pacific 
  •  Europe
  • Rest of the World  

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Global Solar Energy and Battery Storage System Market – Regional Analysis:-

Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Rising environmental concerns and growing energy demand are the two crucial parameters that will drive the growth of the market in the APAC region. In the region, Japan is contributing hugely to the solar energy battery storage system market. The government of Japan is targeting to make the local companies capable of holding ~50% share of the world’s battery storage market by 2020. Some of the major battery manufacturers providing batteries for the solar energy storage system are Hitachi, Mitsubishi, NEC, Panasonic, and Toshiba for lithium ion; GS Yuasa and Shin-Kobe Electric Machinery for lead-acid batteries; NGK Insulators for sodium sulfur batteries; and Sumitomo Electric for redox flow batteries.