Modeling investment decisions of industrial prosumers in battery storage technologies considering STEEP factors

This paper investigates the investment behaviors of industrial prosumers in battery storage technologies, analyzing the influence of Social, Technological, Economic, Environmental, and Political factors from 2021 to 2030. The focus is on modeling how these factors affect the adoption of sodium-based and lithium iron phosphate battery technologies among European manufacturers. Employing the diffusion of innovations theory, we categorize industrial prosumers to predict their investment decisions in response to technological advances and market dynamics. The energy sector’s hosting hosting capacity and the integration of new technologies is respected by enhancing understanding and strategic planning among manufacturers, prosumers, and policymakers. Our findings suggest tailored market strategies that not only predict investment outcomes but also significantly enhance the industry’s view on existing and new technological solutions.