As a guy who owns a house and experiences power outages from time to time, the idea of energy storage, in my house personally, is very attractive. I’m sure that’s attractive for a number of people in the industry, a number of homeowners. I think the opportunity is a really good opportunity, and I say that from the standpoint that if power goes out in your home and you have energy storage tied with a solar array, typically in the past what you would do as a homeowner is you would go fire up your generator, if you had one, and you would backfeed your house.
With that being said, generators have some issues. They’re loud, they take fuel, you may have to go get that fuel, and there’s maintenance that comes along with them. Additionally, as a generator produces power at a small scale, the power it produces isn’t very clean. It can be hard on your appliances, washers, dryers, refrigerators, things like that.
So if you look at energy storage from a battery standpoint in your home, power goes out, your battery just switches over. The loads in your house don’t see a difference. The inverters are very efficient. They’re very good at producing a clean power sine wave, which doesn’t affect your appliances, doesn’t affect your washers, things like that.
If we look at energy storage from a residential standpoint, I think it’s a really good opportunity. I think it’s something that has a cost associated with it. I think it’s also something that I want as a homeowner, and I think that other people want that as well, the ability to not lose all the food in your refrigerator, not lose all the meat you may have in your freezer, the ability to charge your phone, stay in contact with loved ones during a storm event, something like that. That has a lot of value to me, and I think it’s got a lot of value to potential buyers as well.