Issue link: https://te.mouser.com/i/1522749
TREND PAPER / HOME ENERGY STORAGE: NEXT GENERATION OPPORTUNITIES IN SMART HOMES Home Energy Storage Next generation opportunities in Smart Homes 9 UNITED STATES 22 CHINA 23 JAPAN 24 INCENTIVES • The recent Inflation Reduction Act is the largest clean energy investment program in US history; it includes: • Consumer tax credits, covering 30% of new clean energies for solar panels, heat pumps, batteries to store energy, energy efficient home systems (water heaters, central AC and boilers), and charging stations for cars or bikes in rural or low- income areas • Adjacent costs for labor, permits, and inspections will be covered through 2032 • Subsidies and tax rebates are available for electric vehicle buyers • Clean energy is focused on the commercial side of developing, producing, and implementing solutions • Little traction exists with consumers and residential clean energy plans • Funded by the Ministry of Environment, the focus is on bringing solar panels to more industrial buildings, and even farmland • For consumers, rewards are available for daily practices, e.g., earning money back on more energy efficient appliance purchases through Rakuten • Solar companies are starting to get involved, offering free installation and maintenance of solar panels POLICIES • US policy requires that at least 7.5% of the nation's total energy consumption come from renewable sources; that goal was surpassed in 2021, reaching 10% utilization • Outside of a goal to make zero emissions vehicles account for 50% of new vehicles sold in 2030, there are few strict policies affecting consumers • In California, there will be a ban on the sale of new gas-powered cars by 2035 • Lofty clean energy goals are aimed largely at industrial cases; the government released a plan in 2021 to have 25% of consumption met by non-fossil fuels by 2030 • Clean energy goals focus on energy efficiency improvements in buildings as China works to expand production of renewable energy systems • A consumer-centric goal is in place so that by 2030, 40% of vehicles sold will be electric • Japan is transitioning towards cleaner energy solutions with net-zero goals by 2050 • By 2030, roughly 40% of total electricity generated is aimed to come from renewable sources; Tokyo is already working towards this goal, requiring that by 2025 all new home builds have solar panels • A target for all new cars sold to be "environmentally friendly" by 2035 is also in place