Utility Hawaiian Electric has launched a 10-year programme of credits and incentives to its Battery Bonus scheme, which launched last year as a one-time cash incentive for adding battery storage to residential PV systems.
A total of 1,613MW/4,727MWh of energy storage was installed in the US in the last quarter of 2021 according to Wood Mackenzie, which says annual residential storage installations will hit 2GW by 2026.
Lithium iron phosphate (LFP) will be the dominant battery chemistry over nickel manganese cobalt (NMC) by 2028, in a global market of demand exceeding 3,000GWh by 2030.
The German battery storage market continues to be dominated by the residential segment which accounted for 93% of the 1,350MWh of capacity installed last year, according to research by a group of Aachen-based institutions.