US Solar Battery Market Projected to Attain $ 37.7 Million by 2030 – EIN Information
US solar battery market
Growing interest in storage solutions for renewable energy is driving the growth of the US solar battery market.
PORTLAND, OREGON, UNITED STATES, Oct. 19, 2021 /EINPresswire.com/ – The US solar battery market was up 16.9 million in 2020 by 2030. Solar batteries are generally used to store and track solar power Need to discharge. It consists of lithium ions or lead acid. It is rechargeable and can be used generally in solar cell systems to store excess energy. Some of the main uses of solar batteries are solar charging stations, storage for power plants, and storage systems for off-grid systems.
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The US solar battery market is segmented by type, end user, and region. On the basis of the type, the market is categorized into Lithium-Ion, Lead-Acid, Flow-Through Batteries, and others. The various end users of solar batteries that have been studied in the US solar battery market include residential, industrial, and commercial. The US solar battery market share is analyzed for each segment.
The US market analysis for solar batteries includes detailed information on the most important players in the industry. Major players in the US solar battery market include Adara Power, Aims Power, BBI Battery, Enersys, Fortress Power, Goal Zero, Panasonic Corporation, Power Sonic Corporation, Tesla. Inc, Simpliphi Power, Inc, Sunpower, Solaredge Technologies Inc and U.S. Battery Manufacturing Co. Other players in the US solar battery market include Enphase Energy and others.
Depending on the type, the lithium-ion segment achieved a volume share of 79.3% in 2020 and is expected to grow by 7.7% CAGR from 2021 to 2030. This is due to the high charging and discharging efficiency of lithium-ion batteries, which help in generating large amounts of energy. For example, the average efficiency of lithium-ion batteries is 90-95%, while it is around 80-85% for lead acid. In addition, the industrial segment is the leading end user of solar batteries. This is due to the strong demand from various industrial end users for additional energy storage solutions.
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Main results of the study
The report outlines current U.S. market trends and future scenario of the market from 2021 to 2030 in order to understand the prevailing opportunities and potential investment pockets.
The US solar battery market size is reported in terms of volume and revenue.
Based on the type, the flow battery segment is expected to grow with a CAGR of 5.9% in relation to sales in the forecast period.
On the basis of end users, the commercial segment gained 32.1% of sales in 2020.
Based on the type, the lead-acid batteries segment achieved a sales share of 3.5% in 2020.
Impact of COVID-19 on the US solar battery market
The COVID-19 outbreak has impacted the demand and manufacturing of US solar batteries.
The COVID-19 pandemic has impacted delivery times for solar projects, consequently hindering the demand for solar batteries. The delay in the projects is due to the labor shortage.
Some of the solar project developments include NextEra's Dodge Flat Solar Energy Center and the Fish Springs Ranch Solar Farm in Nevada. These projects are under contract with NV Energy Inc. and should be completed in 2021. The projects have 300 MW of solar energy with 75 MW of energy storage.
NextEra's Wheatridge solar and battery storage system in Oregon is also on track. It is part of a wind-solar storage project with Portland General Electric Co. and various extensive battery integration into existing solar parks under an agreement with Southern California Edison.
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October 19, 2021, 9:51 am GMT
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