Sunrun installer placing up photo voltaic electrical panels on a residential rooftop in California.
Owners’ curiosity in solar energy is driving a increase within the U.S. residential vitality storage market, and Goldman Sachs believes wider adoption will drive upside for firms on this nascent business.
The agency mentioned this market continues to be within the early phases, however that so far its progress has exceed expectations.
“Deployment volumes have moved up in virtually linear vogue over the previous couple of years, and we count on the developments to proceed within the near-medium time period,” Goldman mentioned in a current observe to purchasers. The agency expects the market to cross $1 billion for the primary time in 2022.
The agency’s name comes as grid operators in Texas and California have known as on residents to chop electrical energy utilization for concern of blackouts as temperatures soar. Every state has skilled devastating pure disasters over the past yr, exacerbating points for an already fragile grid.
Customers are turning to photo voltaic plus storage choices as a method to make sure energy reliability.