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The GTM’s research report on energy storage landscape has created a buzz when it reported Home energy’s growth curve nearly at par with major commercial utility players in the industry. According to the same research data, the private energy segment, for the first time, has shown higher growth in the first quarter of 2018. While the residential deployments report indicates 15.9 megawatts of energy being utilized by the public, the factor that’s driving people to adopt residential batteries over large commercial establishments is the cost that is comparatively low and affordable.
Surprisingly, the latest wave of residential energy solutions can be witnessed more in Hawaii and California, where the adoption level is multifold compared to other states. As such, this sector has grown over more than 3800 percent year-on-year in California alone, indicating that these systems are here to stay. Both the states comprise 3/4th the share of energy home systems in the country.
On the other end, the commercial utility sector in California recorded a historic fall of 53 percent in contrast with last year’s Q1 reports. However, the preceding quarter witnessed only five projects being implemented although the fact that they managed to rank among the top three in terms of delivering highest energy capacity in any quarter. Above all, the energy sector is expected to deliver more than 500 megawatts this year and over 3500 megawatts by 2023, as predicted by GTM experts.
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