violetkaipa/iStock/Thinkstock
Ecmweb 6723 House
Ecmweb 6723 House
Ecmweb 6723 House
Ecmweb 6723 House
Ecmweb 6723 House

Homeowners Are Expected to Invest More Than $625 Billion in Residential Generation and Storage from 2014 to 2023

Oct. 2, 2014
The residential generation market is likely to expand as DER technologies mature, report concludes.

Innovations in renewable distributed power generation, along with attractive new financing mechanisms, are providing residential customers with new options to manage their energy use and generate their own power.  Known collectively as distributed energy resources (DER), these innovations are causing a broad disruption that is altering the traditional relationship between utilities and their residential customers.  According to a recent report from Navigant Research, homeowners and other residential customers are on pace to invest more than $625 billion, cumulatively, in DER from 2014 through 2023.

“The growing affordability of DER technologies is giving customers greater control of their energy consumption—turning some homes into miniature power plants that generate all the power they consume and even deliver power back to the grid,” says Neil Strother, principal research analyst with Navigant Research.  “Solar PV panels are the most visible technology reshaping the residential power landscape, but there are many others, as well.”

Some of these technologies, such as residential combined heat and power, are in the early stages of market development, according to the report, while solar panels are more mature.  Residential energy storage systems, vehicle-to-grid and vehicle-to-home systems that enable plug-in electric vehicles (EVs) to receive and provide power from and to the grid, and increasingly sophisticated home energy management tools are all likely to deliver more capability to homes and integrate onsite generation and storage in new and innovative ways.

The report, “Residential Energy Innovations,” examines the market for residential generation and storage technologies and discusses how they are reshaping the future of the residential power industry.  It analyzes the key market drivers and inhibitors influencing the market, as well as major technology issues.  Global market forecasts, segmented by region and category – solar PV, energy storage, EVs, and residential combined heat and power – extend through 2023.  The report also provides profiles of established and new industry players and explores policy issues related to residential distributed generation and energy storage technologies.

Voice your opinion!

To join the conversation, and become an exclusive member of EC&M, create an account today!

Sponsored Recommendations

Electrical Conduit Comparison Chart

CHAMPION FIBERGLASS electrical conduit is a lightweight, durable option that provides lasting savings when compared to other materials. Compare electrical conduit types including...

Don't Let Burn-Through Threaten Another Data Center or Utility Project

Get the No Burn-Through Elbow eGuide to learn many reasons why Champion Fiberglass elbows will enhance your data center and utility projects today.

Considerations for Direct Burial Conduit

Installation type plays a key role in the type of conduit selected for electrical systems in industrial construction projects. Above ground, below ground, direct buried, encased...

How to Calculate Labor Costs

Most important to accurately estimating labor costs is knowing the approximate hours required for project completion. Learn how to calculate electrical labor cost.