By the end of 2022, Europe will have 9.3 GWh of residential battery storage

By the end of 2022, Europe will have 9.3 GWh of residential battery storage

According to SolarPower Europe, residential battery storage capacity in Europe is expected to reach 9.3 GWh by the end of this year.

According to the Solar PV Industry Trade Body’s Medium Scenario, the continent will have 39.9 GWh of residential storage by 2026. It could reach 23GWh or 44GWh by that year under its pessimistic and optimistic scenarios, respectively.

SolarPower Europe expects 3.9GWh of deployments over 2022 in its Medium Scenario, a 71% increase from last year’s figure of 2,294MWh. The 2022 figure equates to approximately 420,000 batteries installed, bringing the continent’s total to one million.

Home batteries have become an appealing way to reduce electricity bills, particularly in this year of massive increases, increased interest in energy resilience, and lower carbon footprints. Furthermore, the rise of residential solar, aided by various government incentives, has laid the groundwork for the attached storage market to take off.

The rate of attachment between energy storage and solar has increased from 23% in 2020 to 27% in 2021.

The main impediments to increased installation have been a need for more installers and a shortage of battery cells. Installation accounts for a much more significant proportion of total costs in the residential sector than in the commercial and industrial (C&I) or utility-scale sectors.

According to data from the solar PV industry trade body, Germany is the largest market. The residential energy storage market in the country has always been strong, as consumers seek to combine storage with home PV, which the government has subsidized, to increase self-sufficiency.

In 2021, it will have installed 1.3GWh of home storage systems, accounting for 59% of the total 2.2GWh installed across the continent. The next-largest market, Italy, deployed 321MWh, thanks in part to the Super bonus incentive scheme for home storage, with Austria (132MWh), the United Kingdom (128MWh), and Switzerland (79MWh) rounding out the top five.

Bridges Fund Management, which recently announced the acquisition of Hycube, a residential energy storage system solution provider, is one company looking to capitalize on growth in Germany. According to the report, the German home energy storage market is worth €5 billion (US$5.25 billion).

While Germany will continue to be the dominant market, accounting for 36% of the 7.3GWh installed in 2026, SolarPower Europe expects Poland and Sweden to be the following big markets. It predicts they will have 8% and 6% market shares, respectively, making them the second and third-largest that year.

This is mainly a result of a rapidly growing PV market, storage subsidies, and Sweden’s position as the country with the highest EV penetration (43% of new car sales in 2021). Meanwhile, Poland’s thriving home PV market should drive storage growth.



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