California power crisis charges up battery sales
Close-up of screen terminal with wires on the negative terminal of a 12 volt solar photovoltaic battery bank. Photo: Smith Collection/Gado/Getty Images
Sales of residential batteries in California are expected to quadruple this year to over 50,000 storage systems, the research firm BloombergNEF said in a short new analysis.
Why it matters: It adds specifics to the expectation that power outages — notably widespread blackouts by utilities seeking to cut wildfire risk — will juice sales.
- "[C]ustomers installing solar are willing to pay a premium to add storage for backup," they said in the short report.
The big picture: They note it's an opportunity for solar companies that also offer batteries.
- "Storage sales have been increasing quickly due to generous subsidies, time-of-use tariffs and solar companies eager to upsell," it states.