Top 5 home energy storage system countries in the world

Top 5 home energy storage system countries

Germany

Germany is the world’s largest market for home energy storage system, and the penetration rate of solar storage installations ranks first in top 5 home energy storage system countries in the world.

In 2021, Germany will add 1.48GWh of home energy storage, an increase of 45%, accounting for 34% of the world; the cumulative installed capacity is 3.92GWh, an increase of 60.6%, accounting for 32% of the world.

In 2021, Germany’s optical storage penetration rate will be 3.6%, ranking first in the world. Under the energy crisis, electricity prices have risen, stimulating a high demand for home energy storage system. The average wholesale electricity price in Germany has risen from 52.8 EUR/MWh in January 2021 to a maximum of 206 EUR/MWh in June 2022, an increase of 313%.

In the self-consumption model, the increase in self-consumption of electricity will greatly increase the yield.

Assuming that the home energy storage system is 5kw, the allocation and storage is 50%*2h, that is, the energy storage scale is 5kwh; the battery cycle life is 7,000 times, and the battery is charged and discharged once a day, and the operation will be about 20 years. The cost is 1.17 euros/W, and the comprehensive cost of household solar storage is 2.06 euros/W; the utilization hours are 1200h. In the self-consumption model, the benefits are divided into two parts:

1) Self-consumption electricity: 10kwh per day, about 3650kwh per year, considering that the electricity price for German residents is 0.4 euros/kwh, the income of self-consumption electricity increases year by year;

2)On-grid electricity: Excluding self-consumption electricity, the remaining part earns on-grid income. The on-grid electricity price is 0.06 euros/kwh. Due to the attenuation of power generation, the on-grid income part decreases year by year. The calculated yield is 22.55%, and the yield will continue to increase if the self-consumption electricity increases.

Australia

In terms of policy support, Australia has introduced a small-scale renewable energy plan and a FiT subsidy policy to promote solar storage installations; In terms of light and installation conditions, Australia has sufficient light resources, high photovoltaic power generation efficiency, vast land and sparsely populated areas, and most of the residences are villas, which are suitable for photovoltaic installation, and the home storage system is highly economical. In 2021, Australia will achieve a home storage capacity of 206MW/494MWh, a year-on-year increase of 45% in terms of MWh. Now become top 5 home energy storage system countries.

America

As one of top 5 home energy storage system countries, the cost of energy storage systems in the United States has continued to decline, policy support has continued to increase, and regulatory reforms by the federal and state governments have led to rapid development of energy storage in the United States.

In 2021, the new installed capacity of energy storage in the United States will be 3971MW/10880MWh, and the installed capacity will increase by 341% year-on-year. Among them, home energy storage system added 343MW/960MWh, accounting for 8.8% of the total newly installed energy storage capacity.

The American Energy Storage Association believes that by 2025, the installed capacity of energy storage systems deployed in the U.S. energy storage market will increase fivefold. Among them, customer-side energy storage systems continue to constitute a major part of this growth.

The United States is the second largest market for home energy storage system, and California is the main contributor to home energy storage system installations. The demand for home energy storage in the United States is strong. In 2021, the installed capacity of household storage will reach 468MWh, an increase of 110%, and the growth rate in the past three years has remained above 26%.

California is the most important contributor to the installed capacity of home energy storage system in the United States, accounting for 57% of the installed capacity of home energy storage in California in 2020. In 2021, the deployment rate of new home photovoltaic energy storage in the United States will be about 9%, and there is a lot of room for improvement.

The power system is old, outages are prolonged, and electricity prices are constantly rising.

Statistics from the U.S. Department of Energy show that 70% of transmission lines and transformers in the United States have been in operation for more than 25 years, and 60% of circuit breakers have been in operation for more than 30 years. Old grid facilities are facing great challenges in ensuring power supply reliability.

For severe weather and emergencies, the power outages in the United States will last for a long time, exceeding 350 minutes in 2020. At the same time, under the influence of the energy crisis, electricity prices for American residents are also rising. In April 2022, the U.S. resident electricity price was 14.77 cents/KWh, an increase of about 7%, an increase of 2%, and the electricity price is in a rising trend.

The U.S. home storage industry is highly concentrated, with Tesla occupying half of it.

According to the data, in the U.S. home energy storage market in 2021, Tesla, BYD, and Enphrase will account for 55%/13%/12% respectively, and Tesla will hold the first place with a market share of over 50%.

The US market prefers local brands, and Chinese brands are currently more difficult to enter, and most of them supply batteries through OEM. It is expected that the U.S. will further increase the market size. In the future, Chinese brands may gradually enter the U.S. market. In the long run, the home energy storage industry pattern may be fragmented.

China

China’s energy storage installed capacity is growing rapidly, and the main installed capacity is from centralized.

China’s energy storage installed capacity has been growing rapidly in the past two years. In 2020, the newly installed energy storage capacity will reach 1.37GW/2.48GWh, a year-on-year increase of 153%/189%. In 2021, the newly installed energy storage capacity will reach 2.45GW/4.61GWh, a year-on-year increase of 79%/86%.

Among them, the main contribution comes from the installed capacity of centralized energy storage in China. Distributed energy storage in China is still in the early stage of development and the economy is not high. In 2021, the installed capacity of distributed energy storage will be 188MW/333MWh, a year-on-year increase of +11%/-30% , centralized energy storage accounts for more than 90%. Now as top 5 home energy storage system countries in the world.

China’s electricity prices are low, and it is inconvenient to install photovoltaic roofs in most room types, and the economy of home storage configuration is not high. The electricity price for Chinese residents is 0.56-0.62RMB/kWh. In July 2022, the spot price on the European Power Exchange exceeded 400 euros/MWh, 3-5RMB/kWh, which is 5-10 times the electricity price in China.

In addition, most of the houses in China are buildings, and the installation conditions of photovoltaic roofs are inferior to those of detached houses. Overall, it is not economical to configure home energy storage. China’s energy storage inverters and energy storage batteries are mainly supplied to other countries. In terms of shipments, the top 10 pv inverter companies and top 10 energy storage battery companies in China in 2021 will mainly target customers in other countries.

Among them, the global energy storage inverter leading company Sungrow has shipped about 2.5GW globally, and the shipments from other countries accounted for over 90%; CATL, the leading global energy storage battery company, shipped about 16.5GWh globally, and other shipments accounted for over 88%.

Italy

In Europe, with the exception of Germany ranks first in top 5 home energy storage system countries, Italy, the United Kingdom, and Austria, which are at the forefront of the installed capacity of home storage system, have steadily increased their installed capacity of home energy storage system every year, driven by electricity prices and policies.

By the end of 2021, the installed capacity of household storage in the UK is 81MWh, a year-on-year increase of 113%. Italy’s installed capacity of household storage in Europe is second only to Germany. In 2021, the installed capacity of household storage in Italy will be 191MWh, an increase of 122%.