With on-site solar power installations becoming more common, energy production is increasingly decentralized. Image source: Shutterstock (#525318286)
According to the latest figures revealed by Navigant Research in its latest Distributed Solar PV Plus Energy Storage Systems report, the global annual market for distributed solar PV and energy storage deployment is expected to exceed $49 billion by 2026 with a capacity of 27.4 gigawatts. The research also suggests that nowadays many residential and commercial industrial sectors are beginning to shift towards on-site solutions including solar PV coupled with energy storage systems. According to Navigant analyst William Tokash, ” An emerging confluence of technical, economic, and regulatory factors is beginning to drive growth in the residential, C&I, and remote, off-grid DSES markets.” Asia Pacific region has emerged as the largest consumer with power capacity reaching about 12.9 GW and revenues about $23.1 billion and Western Europe is expected to be the first runner up.
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