Energy storage is an important technical means to support large-scale grid connection of new energy. Thanks to the cost reduction of lithium batteries and the increase in cycle times, in the past few years, the photovoltaic + energy storage model has been quickly accepted by the European market and accelerated penetration. In 2021, the installed capacity of household storage in Europe will be about 2GWh, a year-on-year increase of 72%. Since the beginning of this year, the demand in the European household storage market has surged, and the supply is in short supply.
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Why is the Home Energy Storage Market Continuing to Grow?
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Geopolitical Conflicts Have Led to Rising Electricity Prices and Increased Demand for Energy Storage
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The Introduction of Subsidy Policies to Accelerate Energy Transition
Affected by natural conditions, European energy is highly dependent on external sources, and local geopolitical conflicts have exacerbated the energy crisis Taking Germany as an example, the wholesale electricity price in August reached a maximum of more than 400 euros/kWh, more than five times that of the same period in 2021. Although electricity prices have dropped in the past two months, the future situation is still grim. In this context, the economy of energy storage is reflected, and the market demand remains high.
In response to the energy crisis, European countries have introduced subsidy policies to promote the promotion of photovoltaic and energy storage markets. Japan’s “Energy and Environment Innovation Strategy for 2030”, the US Department of Energy (DOE) released the “Energy Storage Grand Challenge Roadmap”, the European Commission released the “2030 Battery Innovation Roadmap”, and Australia proposed a series of investment plans and subsidies. In order to standardize the development of household and commercial energy storage markets, the strategic goals for future energy storage development are systematically proposed. Under the dual trends of policy and profitability, overseas household energy storage has become a new investment vane.
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It is expected to reach 400GW! The energy storage market reaches new heights
The United States, Europe, and Australia are currently the main markets for overseas household energy storage. Among the European markets, the German market is developing the fastest. Germany’s shipments exceeded 1.1GWh, ranking first in the world. The United States also shipped more than 1GWh, ranking second. Japan’s shipments in 2020 will be nearly 800MWh, ranking third.
With the announcement of the Inflation Reduction Act (IRA) in the United States and the REPowerEU policy in Europe, Bloomberg New Energy Finance (BNEF) predicts that by the end of 2030, global energy storage will exceed 400GW. Yayoi Sekine, director of energy storage at BNEF, added: “With the target, the energy storage market has the potential to recover at an incredible pace.https://www.youtube.com/watch?v=pPemCcca_nw
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A detailed explanation of energy storage battery parameters
1. Wall-mounted energy storage battery: There are two types of 5 kWh and 10 kWh, with high performance and high efficiency. The wall-mounted design does not take up space, and the ultimate industrial aesthetic design adds a sense of luxury to the family. The battery cycle life is 6000+ times, the waterproof level is IP65, and it has an intelligent BMS battery management system to improve battery utilization and service life.https://sunketpower.com/products/energy-storage-battery/
2. Rack mount energy storage battery: easy to install, has a powerful expansion function and can be connected in parallel to meet higher power requirements. The battery cycle life is 6000+ times, and the discharge depth reaches 90%. It has an intelligent BMS battery management system to improve battery utilization and service life. Small footprint, uniform and regular layout, can effectively prevent miscontact and misoperation, and facilitate overall movement.
3. Stacked energy storage battery: stacked energy storage battery is a series of high-voltage energy storage products, which greatly improves the efficiency of daily energy storage. There are currently a variety of 8 kWh to 27 kWh, equipped with WIFI function, which can realize remote monitoring. Visually stylish and concise, minimalist craft design, full of a sense of technology. The battery cycle life is 6000+ times, the waterproof level is IP65, and the discharge depth reaches 90%. It has an intelligent BMS battery management system to improve battery utilization and service life.
Sunket’s products cover 166/182/210mm monocrystalline solar photovoltaic panels, high-efficiency HJT/TOPCon solar panels, BIPV building integrated photovoltaic products, photovoltaic on-grid and off-grid hybrid systems, energy storage batteries and other products. Passed a number of authoritative certifications at home and abroad, with excellent products and professional services, it is exported to more than 100 countries and regions at home and abroad.
In the future, Sunket will continue to adhere to “intelligence, innovation, quality, and greenness”, give back to customers with high-quality products, actively promote the development of green energy, and contribute to a zero-carbon future.