This report provides a comprehensive analysis of the global market for residential energy storage systems (RESS), segmenting it by battery type, ownership, connectivity, power rating, and application. It covers the regions of North America, Europe, Asia-Pacific, and the Rest of the World with specific coverage of counties such as the U.S., Canada, the U.K., Germany, Italy, China and Japan. The report offers insights into leading companies, patent trends, ESG developments, macroeconomic factors, and emerging technologies.

This report is especially relevant now as residential energy storage systems (RESS) are experiencing rapid market growth driven by the increasing adoption of rooftop solar, rising electricity costs, supportive government incentives, and the global push for energy resilience and decarbonization, which are encouraging households to invest in battery storage. These factors highlight the growing importance of RESS in achieving energy security and sustainability at the residential level.

The factors driving the market's growth include:

Solar Energy Demand: The growing popularity of solar panels in homes is driving the need for energy storage. Residential energy storage systems (RESS) help store excess solar power for later use, making solar energy more practical and reliable for everyday needs.

Falling lithium-ion battery (LIB) prices: Lithium-ion battery costs have dropped significantly, making RESS more affordable for homeowners. Lower prices encourage wider adoption, helping more people store and manage their energy efficiently.

Shift in investment in energy storage technologies: Governments and private sectors are increasingly investing in energy storage technologies. This boosts innovation, improves system performance, and supports the development of decentralized energy solutions like blockchain-based sharing.

Higher battery energy density: There is a growing demand for batteries that store more energy in smaller spaces. Higher energy density makes RESS more compact and efficient, which is ideal for residential use and supports better energy management.

Grid modernization: Upgrades to traditional power grids are making them smarter and more flexible. Modern grids can better integrate RESS and support technologies like blockchain, enabling secure and efficient energy sharing among users.