Global solar battery market size, share, market intelligence, company profiles, market trends, growth, strategy, analysis, forecast 2018-2023
Solar batteries are charged with energy from the solar panels. When the solar battery is installed as a part of a home solar energy system, the extra energy is stored for future use rather than sending it back to the electricity grid. The ability to use electricity generated by the solar panels is maximized with the solar batteries. The stored solar energy can be used later in the daytime, at night time or in cloudy weather. The market for the solar battery is expected to show a significant growth due to increasing demand for solar battery from the telecom sector and incentives by the government for solar energy system installation. In addition, the rising cost of electricity bill and low contribution of solar batteries in environmental pollution are further fuelling the growth of the solar battery market. However, the high cost of the installation of a solar energy system act as the limiting factor and hinders the market growth.