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Residential Energy Storage System (RESS) Market Analysis and Business Simulation

In: Proceedings of the 2025 10th International Conference on Financial Innovation and Economic Development (ICFIED 2025)

Author

Listed:
  • Anfeng Xie

    (St. Paul’s School)

Abstract

Renewable energy has been growing more than ever before due to commitments and trends to reach net zero and to ameliorate today’s environmental crisis. Nonetheless, the amount of electricity generated by some forms of renewable energy, such as solar and wind, fluctuates with weather. Hence, energy storage has become a major player in the challenge, and residential energy storage systems (RESS) are growing in popularity. This paper will analyze the reasons for the RESS market growth in Germany and South Africa with PESTEL and Malow’s model and how two tier 1 companies in either region—Sonnen (Germany) and Deye (South Africa)—employ these trends in their own success. Lastly, utilizing previous research and analyses, the paper proposes a business simulation in the Pacific Islands, focusing on Papua New Guinea.

Suggested Citation

  • Anfeng Xie, 2025. "Residential Energy Storage System (RESS) Market Analysis and Business Simulation," Advances in Economics, Business and Management Research, in: Maizaitulaidawati Md Husin & Tomoki Fujii & Xiaodong Lai & Azlina Binti Md Yassin (ed.), Proceedings of the 2025 10th International Conference on Financial Innovation and Economic Development (ICFIED 2025), pages 548-562, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-702-1_58
    DOI: 10.2991/978-94-6463-702-1_58
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