Abstract
The U.S. residential energy storage market grew rapidly during 2017–20, driven by homeowners seeking to increase resiliency, changes in net metering programs, and the financial benefits of installing a system. The residential energy storage system (ESS) market was dominated by Tesla in 2020 and, as a result, domestic production met most U.S. demand. Smaller U.S. producers are also benefiting from market growth, with residential ESS sales substantially increasing in the last few years. There were several new entrants with foreign production to the residential market in 2019–20, however, some of which have a number of competitive advantages that enabled them to quickly gain U.S. sales in the second half of 2020. As a result, U.S. residential ESS imports rapidly increased in 2020. South Korea was historically the largest foreign residential ESS supplier, but an increasing share of imports are shipped from China and Vietnam.
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