The international market research organization Reportlinker.com recently released a research report on the residential battery energy storage market, stating that by 2022, the global residential battery energy storage market will reach 3.6 billion US dollars.

　　This was mainly stimulated by the revision of grid-connected electricity prices and net metering, the rapid decline in battery prices, government subsidies and tax incentives.

　　The decline in the cost of renewable energy such as photovoltaics and the growing awareness of environmental protection have strengthened the development of the market driven by self-consumption.

　　In addition, the rapid improvement in the performance of residential battery energy storage systems allows customers to quickly respond to different needs through similar blockchain technology, further increasing the value stack. These features allow open revenue streams to customers and allow suppliers to provide system financing support, such as reduced or zero down payment loans, leases or power purchase agreements (PPA).

　　This type of model can greatly reduce the customer's upfront costs, and can provide a source of income to achieve cost savings.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect replacement for lead-acid batteries, and they are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

　　Germany and Japan are currently the largest markets for residential battery energy storage, but considering the above factors, the market is expected to be significantly larger. Among them, the United States and Australia are expected to become the two largest breakthrough markets, and other European markets such as Italy and the United Kingdom will also grow significantly during the forecast period.