Global Energy Storage Market Introduction:
1) In 2022, the global energy storage market will ship 70GWh, with household storage exceeding 10GWh.
2) In 2023, the global energy storage market will ship 140-150GWh, with the majority coming from large ground storage (with North America contributing the most) and household storage shipping 30-40GWh.
3) The shipment of PV inverters and PCS is expected to reach over 400GW in 2023, an increase of over 50% from this year.
European Market:
1) Electricity prices are expected to rise from the current 0.42-0.45 euros to 0.6 euros in March-April of 2023.
2) With the release of silicon production capacity, component prices are expected to drop to 1.8-1.9 yuan/watt, driving up demand for ground-based power stations in Europe, while the proportion of distributed installations is expected to decline.
3) The top Chinese manufacturers are expected to ship 10-11GWh of household storage by September 2023, with the total expected to be around 14-15GWh for the year.
4) Large-scale storage development is mainly concentrated in the UK and Ireland, accounting for 70% of Europe’s large-scale storage. The PV power generation time in Germany, France, Italy, Spain, and the Netherlands was approximately 7-800MWh this year. With the stabilization of lithium carbonate prices, demand for installations is expected to increase in 2023.
5) The average annual power generation time in northern Europe is several hundred hours, while in western and southern Europe it is 1500-1600 hours.
US Market:
1) There is significant room for growth in household storage, with 3-4GWh in 2022 and doubling to 7-8GWh in 2023, mainly benefiting from multiple subsidy policies.
2) The market for large-scale storage is dominated by 14 fund companies and 22 public utility units and is expected to double or more.
Chinese inverter manufacturers have more products targeting the three major markets of Europe, the United States, and Australia.
In the European market, traditional PV core markets such as Germany, Austria, Switzerland, Sweden, and the Netherlands are mainly three-phase markets, preferring products with higher power. Italy and Spain, among other southern European countries, mainly require single-phase low-voltage products. Eastern European countries such as the Czech Republic, Poland, Romania, and Lithuania mainly require three-phase products, but the acceptance of prices is lower.
The US market prefers higher power products for energy storage systems. Split battery inverters are more popular with installers, but integrated battery inverters are the future trend.
Hybrid inverters for solar and storage can be sold separately or as battery energy storage systems (BESS) with inverters and batteries. At present, under the control of distributors, each direct customer is relatively concentrated, and products with split batteries and inverters are more popular, especially in areas outside of Germany, where they are more convenient to install, easy to expand, and easy to reduce procurement costs. If one supplier cannot supply batteries or inverters, another can be found, making delivery more secure. The trend in Germany, the United States, and Japan is toward integrated machines, which can save a lot of trouble with after-sales service and have certified factors, such as the need for fire protection system certification in the United States to be linked to inverters.
The current technological trend is toward integrated machines, but split machines are more widely accepted in the sales market by installers. Customers have a high degree of recognition for inverter manufacturers who make batteries because they have a good cooperative relationship with inverter manufacturers and have trust in their products.
Backup power is needed in the United States and Japan, and independent power is a demand in the market, including South Africa and other regions where the infrastructure is insufficient to support people’s electricity needs. Therefore, users need to equip themselves with household solar energy storage systems.
We welcome you to contact our professional team and explore the cost-effective renewable energy solar energy storage microgrid system for homes and businesses.