BYD Co Ltd (OTCPK:OTCPK:BYDDF) is looking to seize energy storage business opportunities around the world. Recent contract wins in both residential and commercial emphasize the company’s worldwide reach and competitive position. Many other companies, including Tesla (NASDAQ:TSLA), are optimistic about the business as well. BYD may have the competitive advantage, though. Its founder and chairman has very ambitious targets for future growth.
North America
Energy storage systems are benefiting everywhere from a combination of rapidly falling costs, improved capability and greater industry expertise. Many Governments are looking to subsidize the business short-term. Consumer interest is showing strong levels. The World Bank has predicted that 378.1GW of solar and wind generating capacity will come on-stream between 2017 and 2022. They see the main barrier as up-front cost. However costs are falling across the board. Thus payback times are shortening. The affluent USA did lead in such early applications, but may now fall behind the rest of the world.
Energy storage systems are still increasing in the USA. It is estimated that 260 MW was installed last year. This has been encouraged by a decline in net metering. This makes it now more viable for the consumer to store energy. Commercially the market will be hampered by the lack of clear direction and policy initiatives from the Federal Government. Individual States very much have individual policies.
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