Recent changes in UK government support for solar panels with the removal of the feed-in tariffs has changed the landscape around domestic energy generation. Now, new PV owners are paid far smaller sums by energy suppliers to push energy onto the grid under the Smart Export Guarantee. This change presents new opportunities for companies looking to grow into the home battery market.
Domestic energy storage helps people who have solar panels to maximise their value, allowing people who install batteries to use more of the energy they generate and save money off their energy bills. Because home batteries can be used to store cheap energy and discharge it when prices are higher, they also complement EV ownership. Tesla, IKEA, Shell and established energy retailers are investing now, but there are still plenty of growth opportunities for attractive new propositions in this space.
White Space has extensive experience working with energy suppliers and has completed a number of proposition development projects around domestic energy storage. We have put together a short pack to share insights around how the domestic energy storage market is likely to grow.
In this deck, we summarise:
- What is domestic energy storage?
- What is the scale of the market at present?
- What propositions have been launched and who by?
- How do potential buyers of home batteries perceive the idea?
- What opportunities does domestic energy present in the near future?
White Space Strategy has lots of experience working with companies in, or looking to enter, the domestic energy market. Our toolkit allows us to understand customer needs, support development and testing of new propositions to meet these needs and help companies launch new offerings. If you would like to discuss this further, we’d love to hear from you. Get in touch and tell us a bit more about your business.
Blog author:
Andrew Downs
Associate Director