Home is Where the Charge Is: The Current and Future Economics of Residential Battery Storage

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Gary Brudvig
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United States homeowners can fight the catastrophic effects of climate change by installing a lithium-ion battery inside their home. Residential battery energy storage systems absorb electricity and store it for later use, allowing a homeowner to reduce energy consumption. However, at present, the costs of residential battery systems outweigh their benefits. This paper seeks to identify current factors that render residential battery net costs prohibitively high, recommend battery sizing options to players in the nascent residential battery storage market, and suggest actions for utilities and governments to make a residential home battery an attractive investment.