Recent market data reveals a rapid expansion in home microgeneration technology as consumers seek energy independence. Economists analyzing the green technology sector have calculated that the cross elasticity of demand (XED) between residential solar panel installations and smart home battery storage systems is −0.38-0.38−0.38.
Using the cross elasticity of demand value of −0.38-0.38−0.38, explain the relationship between residential solar panel installations and smart home battery storage systems.
