Solar with battery storage is a sought-after option by many industrial, commercial and even residential consumers.
The huge interest in solar storage solution means that there a big market that is willing to adopt it.
But it hasn’t yet. And the reason is obviously the cost!
In India, integrating batteries into your solar solution would cost 30% more than your typical solar system price. At this price, and considering the fact that batteries require more maintenance and may have to be replaced in a span of 5-7 years, your return on investment is pushed back a couple of years.
On a positive note, solar energy storage is getting cheaper, albeit very slowly. Whether it would be a major disruptor or not, only time will tell. Nevertheless, it would be appropriate to say that the energy storage industry is where the solar industry was 10 years ago.
There are some companies that are in the limelight when it comes to energy storage and they would probably dictate the future of energy storage. Some of them are listed below.
- Elon Musk’s Tesla with its reportedly (but also disputedly!) cost-competitive Powerwall and Powerpack products on offer to residential, commercial and utility-scale segments
- Germany’s Sonnen with its newest product SonnenCommunity which offers residential customers the opportunity to trade energy with each other
- Australian company Redflow with its ZCell technology targeting the domestic market for self-consumption