Energy Storage Market to Hit $23B by 2036 While Musk Hails Self-Driving Housing Benefits
Elon Musk said self-driving technology could lower housing costs by enabling commuters to live further from cities. The long-duration energy storage market is projected to expand from $6.34 billion in 2026 to $23.02 billion by 2036 at a 13.8% CAGR, spurring further investment in battery manufacturing.
1. Musk Comments on Self-Driving and Housing Affordability
Elon Musk stated that advanced self-driving capabilities could enable vehicles to transport occupants over long distances without driver input, allowing prospective homeowners to choose lower-cost suburban or rural locations while working or resting en route. He suggested this autonomous commuting could effectively expand viable housing options and reduce per-square-foot living expenses.
2. Long-Duration Energy Storage Market Expansion
The global long-duration energy storage market is forecast to grow from $6.34 billion in 2026 to $23.02 billion by 2036, reflecting a 13.8% compound annual growth rate. Key drivers include rapid renewable energy deployment, grid congestion challenges, supportive government policies and U.S. trade tariffs on battery components that are accelerating domestic manufacturing investment.