Home energy storage systems can usually be combined with distributed photovoltaic power generation to form home light storage systems. With The rapid growth of overseas home energy storage, various countries have introduced subsidy policies to encourage household energy storage installations. The key barriers to the industry are the channel and product power. Chinese enterprises are cost-effective. Battery and PCS are the two major components of home energy storage systems, which are the most beneficial part of the home energy storage market.
1) What is the development trend of home energy storage systems?
Home energy storage systems can usually be combined with distributed photovoltaic power generation to form home light storage systems. Home storage system mainly includes battery and inverter two types of products.
① from the battery trend, energy storage batteries to higher capacity evolution. With the increase of residential electricity consumption, the amount of charge per household gradually increases, and the battery can expand the system through modularization, and the high-voltage batteries have become a trend.
② In terms of the inverter trend, the demand for hybrid inverters suitable for the incremental market and off-grid inverters without access to the grid is increasing.
From the perspective of the terminal product trend, ③ is currently mainly split type, that is, the battery and inverter system collocation use, and then gradually develop to the all-in-one machine.
④ From the perspective of regional market trend, the differences in power grid structure and power market lead to slight differences in mainstream products in different regions. European grid mode is mainly, the United States off-grid mode, Australia is exploring the virtual power plant model.
2) Why does the overseas home energy storage market continue to grow?
Benefiting from the distributed photovoltaic & energy storage penetration rate two-wheel drive, overseas home energy storage is growing rapidly.
In terms of photovoltaic installed capacity, Europe is highly dependent on foreign countries. The conflict between Russia and Ukraine has intensified the energy crisis, and European countries have raised their expectations of photovoltaic installed capacity. In terms of energy storage penetration rate, the rise of energy price has promoted the rise of residential electricity price and improved the economy of energy storage. Countries have introduced subsidy policies to encourage household energy storage installations.
3) How is the development of overseas markets and how much is the market space?
The United States, Europe and Australia are currently the main markets for household energy storage.
According to BNEF statistics, the new installed household energy storage capacity in the United States in 2020 is 154MW / 431MWh in 2020, mainly driven by subsidy policy; the new installed household energy storage capacity in Europe is 639MW / 1179MWh, the household storage economy increases rapidly; the new household energy storage capacity is 48MW / 134MWh, the high household PV permeability has the basis for developing household energy storage, the virtual power plant market gathers household energy storage to participate in auxiliary services to improve the yield.
Assuming that in 2025, the newly installed photovoltaic market energy storage penetration rate is 15%, the energy storage penetration rate of the stock market is 2%, the global home energy storage capacity space reaches 25.45GW/58.26GWh, and the compound growth rate of installed energy is 58% from 2021 to 2025.
4) What are the key barriers to the home energy storage industry?
The key barriers to the home energy storage industry are channel and product power.
Home energy storage system is usually used with rooftop photovoltaic, product form similar to small home appliances, with certain consumer goods attributes, from the perspective of 2C products, ① channel affects the product reach and market coverage, manufacturers can build overseas channels or deep binding with channels to achieve sales purpose; ② product charge, voltage level, coupling mode and other technical parameters determine the market positioning of products, R & D investment and service system construction is the key to ensure product power.