In 2017 Hurricane Irma wreaked havoc here in South Florida.
Everyone pulled together to rebuild.
Just a couple of days later, we had cleaned up most of the debris. Things started to look normal.
However, there was still one huge issue…
The power plants had shut down. And our electric grid sustained serious damage.
The power outage in my neighborhood lasted over a week.
But I was lucky. There were some communities without power for over a month.
Small generators didn’t help much. I wished I had something better.
And I know I’m not the only one who feels this way…
The Demand for Battery Storage Is Rising
A 2020 Sunrun survey said 66% of U.S. homeowners were interested in home batteries.
The main reason was power outages.
One-third of U.S. homeowners said they expect to lose power at some point.
This is a huge problem in states like California that have more natural disasters.
And our aging power grid is struggling to keep up.
In fact, 2020 was the worst year ever for outages.
The Energy Information Administration said there were 1.33 billion hours of power outages last year.
That’s 73% higher than 2019!
Home Battery Storage Costs Are Falling
The allure of home battery storage doesn’t end there.
The National Renewable Energy Lab says costs will drop nearly 50% by 2030.
(Source: The National Renewable Energy Lab.)
Rising power outages and falling prices will fuel the adoption of home battery systems.
MarketsandMarkets expects the global home battery market to grow to $17.5 billion by 2024.
That’s a 22.8% compound annual growth rate!
You could profit off of this trend by investing in battery storage. But batteries are just part of the solution.
Check out Ian King’s latest presentation to learn more.
Regards,
Research Analyst, Strategic Fortunes
Morning Movers
From open till noon Eastern time.
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