In 2018, Australia and Germany led the growth of the global residential energy storage market

Australia is on the cusp
of a residential energy storage boom.
Bloomberg New Energy Finance BNEF and PV Magazine also reported that due to rapid growth, Australia has become the fastest growing market in the residential battery energy storage market
along with Germany.

As stated in a recent report by the Climate Council, the Australian residential battery storage market is about to take off
.
Behind the growing popularity of residential energy storage is a range of factors, including the falling
price of lithium-ion (Li-ion) batteries.

The climate committee found that lithium-ion batteries are following the decline in solar photovoltaics, with prices down 80 percent since 2010 and halving
again by 2025.

Meanwhile, BNEF battery energy storage analysis reports that Australia and Germany are the fastest growing residential energy storage markets
.

Logan Goldie-Scot, senior researcher at BNEF, said: "In 2018, we estimate that between 1 GW and 1.
4 GW of residential energy storage will be installed
globally.
The leading market is similar to 2017, mainly concentrated in Germany and Australia, but the US residential energy storage market will rise
this year.
”