New report shows that this energy market is hotter than ever — and it could be a game-changer for consumers
Residential energy storage installations are soaring across the United States, and it's a game-changer for consumers.
The U.S Energy Storage Monitor report by the American Clean Power Association (ACP) and Wood Mackenzie, summarized by EcoWatch, said installations of grid-scale and residential energy storage reached record highs in 2024's third quarter.
This exciting development demonstrates that the clean energy transition in the U.S. is steaming ahead, with analysts predicting a 30% rise in installations in 2024. This is only predicted to increase in the future, especially in residential areas, as the cost of energy storage and solar power continues to decrease.
If you were to install home solar panels, which of these factors would be your primary motivation?
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Helping the planet
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Residential energy storage means people can store surplus energy for later consumption. Energy produced during the day via solar panels can be stored for use at night when the sun isn't shining or when grid supply is disrupted, such as during storms or other severe weather events.
Combining batteries with solar panels at home helps make solar power more reliable. As costs for the technology continue to fall, it's making more sense for consumers to switch to renewable energy production to slash bills and ensure the lights stay on — especially as extreme weather events become more intense and long-lasting.
Renewable energy, like solar and wind, is also better for the environment since the energy grid still relies on dirty fuels to create power. This technology reduces the pollution our homes are responsible for, making for cleaner air and a cooler planet.
"We are seeing the energy storage industry fill a real need across the country to provide reliability in an affordable and efficient manner for communities," said John Hensley, SVP of Markets and Policy Analysis at ACP, in a statement as per EcoWatch.
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