Home energy storage battery sales channels

What is a residential energy storage system?

Residential energy storage systems integrate various components including battery cells, modules, power conversion systems (PCS), software i.e., battery management systems (BMS) and energy management systems (EMS), and other balance of plant items.

Do residential batteries need energy management systems?

As residential batteries become smarter, responding to complex price signals and time-of-use tariffs, there will be more of a need for residential storage systems that have energy management systems and functionality that is tailored to a specific market.

Why are home battery storage systems so popular?

Home battery storage systems have skyrocketed in popularity during the past few years for many different reasons. Besides the obvious fact that they provide clean power, more and more people are recognizing that the grid isn’t always reliable.

Why are residential batteries important?

Residential batteries are expected to be a major contributor to the storage capacity needed to shift electricity demand to timeslots of high renewable electricity generation. At the household level, the battery charges in the daytime when solar power is generated in excess, and discharges later when there is typically higher demand.

Are residential batteries market-driven?

In many markets today, however, electricity is often priced at a flat rate per kWh for homes, so customers are not incentivized to act this way. The second is market-driven, where residential batteries participate in system level energy, grid service and capacity markets, or local flexibility markets run by distribution grid operators.

Are residential batteries the future of power markets?

Although they are not widespread globally, their emergence as power markets transition will create significant opportunities for distributed energy resources like residential batteries to earn a return from the services they provide.