In the recent times, there has been a lot of infrastructure development worldwide, and people have also started to invest more on energy storage solutions. 

When we talk of residential energy storage solutions, solar power has grabbed the attention of most of the people as an efficient source of power.  We will talk about solar power, and why it is becoming a reliable source of power in this blog. 

One important constituent of solar energy systems is the solar array, storing the electricity produced by solar panels for later use.

Understanding Solar Batteries Well

Solar batteries store the energy produced by solar panels, which is to be used later. They have a significant part to play in residential energy storage systems, permitting homeowners to make use of solar energy even when there is low or no sunlight. Solar batteries are available in various types, including lead-acid, lithium-ion, and saltwater batteries. Among these, lithium batteries have become immensely popular because of their competence and longevity.

Browse detailed report - Residential Energy Storage Market Analysis and Demand Forecast Report

What is the Price of a Lithium Battery

The price of lithium batteries has decreased considerably in the recent past, making them affordable for residential use. The preliminary investment in acquiring a lithium battery is a bit more as compared to other battery types, but the long-term savings often balance the higher upfront cost. The price of a lithium battery rest on numerous factors, such as the capacity, manufacturer, and warranty.

Coming to a Concrete Conclusion

Solar batteries are really important in residential energy storage systems, providing more than a few advantages, such as augmented energy independence, reduced cost of electricity and a lower carbon footprint. Lithium batteries are popular because of high energy density, their longevity, and low maintenance cost.

The requirement for residential energy storage solutions is on the rise, and will reach a value of USD 3,099.8 million by the end of this decade due to the rampant development of infra all over the world.