TREND PAPER / HOME ENERGY STORAGE: NEXT GENERATION OPPORTUNITIES IN SMART HOMES
Home Energy Storage
Next generation opportunities in Smart Homes
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Summary
• The US is the global leader in residential incentives for upgrading to newer, more sustainable, clean energy systems for all
consumer income levels.
• Across Europe, incentives exist for consumers to upgrade to cleaner energy technology, with hints towards larger, more
comprehensive plans in the future.
• In the US, China and Japan, countries are prioritizing clean energy policies that mostly affect the commercial sector, with
loose targets on EVs for consumers over the next decade.
• The UK and EU are more tactical in their approach to onboarding consumers to new clean energy technology, with stricter
requirements in place relative to other markets.
Government Policies and Incentives Around the World
Government incentives and policies around the world are aiming to change consumer behavior towards cleaner energy.
In addition to the global trends, these efforts will ultimately affect home energy usage and storage.
Graph source: Euromonitor's Passport Data Mobility, Electric Car Registrations 2022-2030
299%
452%
53%
167%
123%
164%
130%
177%
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0
1,000
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Ch ina USA Japan Germany UK France Italy Spain
Number of Electric Vehicle Registrations & Forecast Growth %
2022 Forec asted Growth % (2022-2030)
