Global Solar Battery Market Report 2022: Rise in Demand for Sustainable Energy Storage Solutions Fueling Growth - ResearchAndMarkets.com
The global solar battery market is anticipated to grow at a CAGR of around 15.5% during the forecast period. The rise in the demand for sustainable energy storage solutions is the key driver for the growth of the market. The government on the global level are promoting sustainable energy sources that fuel the demand for solar power batteries over the forecast period. Some of the major applications of the solar battery include storage for power plants, solar charging stations, and storage systems for off grids and others
DUBLIN--(BUSINESS WIRE)--Oct 5, 2022--
The "Global Solar Battery Market Research and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The global solar battery market is anticipated to grow at a CAGR of around 15.5% during the forecast period. The rise in the demand for sustainable energy storage solutions is the key driver for the growth of the market. The government on the global level are promoting sustainable energy sources that fuel the demand for solar power batteries over the forecast period. Some of the major applications of the solar battery include storage for power plants, solar charging stations, and storage systems for off grids and others.
Therefore, these wide applications of solar batteries are effectively reducing the demand for oil, coal and others fossil fuel resources imported. Furthermore, the growing cost of electricity bills and the reduced contribution of solar batteries to environmental pollution are also fueling the growth of the solar battery market. However, the high cost involved in the installation of a solar energy system act as the restraining factor for the market growth.
