Million sets per year! Household savings "take off"
92 2023-07-17

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Faced with soaring electricity costs and unstable grid operations, more and more household users rely on household solar power generation facilities and household energy storage systems to achieve energy independence. In comparison, the household storage system can enable household users to produce, store and manage clean energy more efficiently and economically. It has become an important part of the new power system and one of the main driving forces for the growth of global energy storage installations.

Overview of Global Household Savings Market Development

Compared with industrial and commercial energy storage, the installed capacity of household storage is relatively small, generally around 10kwh. As far as the technical route is concerned, household storage is also significantly different from large-scale storage. Household storage adopts an electrochemical energy storage route that is more flexible in installed capacity, mature in industrial chain development, qualified for mass production and promotion, and easy to install, operate and maintain. In terms of working principle, the household storage system directly uses photovoltaic power generation during the day, stores more electric energy in the battery, and can use the battery to supply power at night. This can not only reduce electricity bills, but also ensure the stability of electricity consumption under extreme weather and other conditions.

Since 2021, driven by the dual drive of high electricity prices and energy security needs, the global demand for household energy storage has ushered in an explosion. At the same time, governments of various countries have also introduced policy support and subsidies for this. Household energy storage systems are particularly in demand in areas with high electricity prices and poor grid stability.

According to BNEF data, the proportion of household energy storage in the global energy storage market has stabilized between 20% and 30% in recent years. Among them, the European and American markets each account for about 25% of the global market share. Due to the continuous increase in electricity prices and electricity consumption, household storage will release strong momentum in the future. With the continuous advancement of distributed photovoltaic installed capacity and the continuous improvement of household storage economy, BNEF predicts that by 2026, the global household storage market share will increase to 42%, and the global household storage newly installed capacity will reach 159.1GW, which is about 21 years. 25 times. According to the calculation based on USD 10,000 per set of 10kWh energy storage system, it is estimated that in the future, new household storage installations in the world will bring a market space of 100 billion yuan.

In December last year, the European Photovoltaic Industry Association (Solarpower Europe) released the European household storage market outlook report. In 2022, the European household storage market is expected to have an installed capacity of 3.9GWh, a growth rate of 71%. Germany, Italy, the United Kingdom, and Austria ranked the top four with 1.54GWh, 1.1GWh, 0.29GWh, and 0.22GWh respectively. It is worth mentioning that by 2022, the number of households installing photovoltaic and energy storage systems in Europe will exceed 1 million.