Introduction to the global energy storage market:
1) In 2022, global energy storage shipments will reach 70GWh, with household energy storage exceeding 10GWh.
2) In 2023, global energy storage shipments will reach 140-150GWh, with the majority coming from ground-based storage (with North America contributing the most), and household energy storage shipments reaching 30-40GWh.
3) Inverter and PCS shipments are expected to reach over 400GW in 2023, a growth 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 2023.
2) With the release of silicon material production capacity, component prices are expected to drop to 1.8-1.9 yuan/watt, driving up demand for ground-based solar power stations in Europe, while distributed installation proportions may decline.
3) Major Chinese manufacturers are expected to ship 10-11GWh of household energy storage by September 2023, with total shipments for the year estimated at around 14-15GWh.
4) Large storage development is mainly concentrated in the UK and Ireland, which account for 70% of Europe’s large storage. Solar power is concentrated in Germany, France, Italy, Spain, and the Netherlands, with approximately 7-800MWh this year. With stable lithium carbonate prices, installation demand is expected to increase in 2023.
5) The average annual power generation time is a few hundred hours in Northern Europe, and 1500-1600 hours in Western and Southern Europe.
US market:
1) Household energy storage demand is expected to double to 7-8GWh in 2023, mainly due to multiple subsidy policies.
2) The large storage market is dominated by 14 fund companies and 22 public utilities, and is expected to more than double in size.
Chinese inverter manufacturers mainly focus on the European, American, and Australian markets. In Europe, traditional solar core markets such as Germany, Austria, Switzerland, Sweden, and the Netherlands mainly favor three-phase products with higher power. Italy and Spain mainly need single-phase low-voltage products. Eastern European countries such as the Czech Republic, Poland, Romania, and Lithuania mainly require three-phase products, but have lower price acceptance. The US market prefers higher power products, and battery and inverter split products are more popular with installers, but integrated products are the trend for the future. Combined solar and storage inverters can be sold separately or as a battery energy storage system (BESS). Currently, each direct client is relatively concentrated among dealers, and battery or inverter split products are more popular, especially outside of Germany, where they are convenient to install, easy to expand, and can reduce procurement costs. If one supplier cannot provide a product, another can be found, ensuring delivery reliability. The trend in Germany, the US, and Japan is towards integrated products, which can save a lot of after-sales trouble and have certification factors, such as the US fire system certification that requires a connection to the inverter. The current trend is towards integrated products, but split products are more widely accepted by installers in the market. Customers have a high degree of recognition for inverter manufacturers who make batteries, because they have a good cooperation relationship with inverter manufacturers and have trust in their products. Backup power is needed in the US and Japan, and independent power supply is a demand in markets such as South Africa, where the country’s infrastructure is insufficient to support the public’s electricity needs, so users need to equip themselves with household solar energy storage systems. We welcome you to contact our professional team to explore the cost-effective renewable energy solar storage microgrid system for homes and businesses.