Global Energy Storage Projected to Increase to $546 Billion by 2035
Palm Beach, FL – September 01, 2020 – The global energy storage market is projected to grow to $546 billion by the year 2035, according to a report from Lux Research. One of the largest markets will likely be residential energy storage, with an expected compound annual growth rate of 76% and $8 billion revenue increase over the next three years. Mentioned in today’s commentary: NeoVolta (OTCQB: NEOV), Tesla (NASDAQ: TSLA), SolarEdge Technologies (NASDAQ: SEDG) and Enphase Energy (NASDAQ: ENPH).
Along with plug-in vehicles, residential energy storage was expected to account for most of the growth. Analyst Chloe Holzinger, one of the report’s lead authors, said that the energy storage market as a whole is “poised for a massive increase in annual revenue and deployment capacity.” Innovative technologies reaching commercialization will drive this increase.
With the energy storage market projected to see dramatic growth, among the most active companies in the industry are NeoVolta, Tesla, SolarEdge and Enphase Energy.
Tesla (NASDAQ: TSLA) – Tesla, whose stock just split, clearly has enormous reach and scale in global energy storage. The company recently began construction of the world’s largest battery storage facility. In residential energy storage, the Powerwall has been Tesla’s flagship product since 2015. The Powerwall 2’s lithium ion battery has 13.5 kilowatt-hours (kWh) of storage capacity and can deliver 7 kW of peak power and 5 kW of continuous power while balancing home energy and Tesla vehicle energy needs.
SolarEdge Technologies (NASDAQ: SEDG) – This company, which trades at around $221 per share, develops a wide range of smart solar energy technologies. SolarEdge began as a manufacturer of power optimizers, inverters, and monitoring systems for PV arrays. In recent years it has expanded into components for residential energy storage. SolarEdge’s residential storage products include smart EV chargers and the new Energy Hub inverter.
Enphase Energy (NASDAQ: ENPH) – This Bay Area company, which trades at around $77 per share, started in 2006 and became the world’s leading supplier of solar microinverters before expanding into energy storage. Like NeoVolta, it uses lithium iron phosphate battery chemistry for its new Enphase Encharge home energy storage system. The Enphase Encharge 10 and Encharge 3 systems offer scalable battery storage capacities of 10.1 kWh and 3.4 kWh, respectively.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. Except as set forth below, FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars by NeoVolta Inc. for news coverage of the current press releases issued by NeoVolta Inc. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or Form 1-K, as applicable, and in other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org – +1(561)325-8757