Energy Storage Battery
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Definition: A device that stores energy for later use, typically in the form of chemical energy converted to electrical energy.

Also known as: Home Battery, Solar Battery, Home Storage
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Relevance to home energy efficiency: Energy storage batteries allow homeowners to store excess energy generated by renewable sources like solar panels, using it when needed and potentially reducing reliance on grid power.
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Benefits:

• Enables greater energy independence
• Can provide backup power during outages
• Allows for better management of energy consumption and costs

Drawbacks:

• High upfront costs
• Limited lifespan (typically 10-15 years)
• Requires space for installation

Statistics: According to Wood Mackenzie, the U.S. residential energy storage market grew by 138% in 2020, with over 1.1 GWh of new installations.