European Solar & Storage Set to Grow over 400% by 2025: Study

• Household solar and also storage is set to grow from 3 GWh capability in 2020 to 12.8 GWh in 2025, said SolarPower Europe just recently.
• European residential solar & storage skyrocketed by 44% to 140,000 set up units in 2020.

The forecast for household solar remains to look bright for coming years, with European solar & storage readied to grow over 400%, from 3 GWh mounted storage ability in 2020 to 12.8 GWh in 2025, revealed SolarPower Europe recently.

SolarPower Europe has released its annual 'European Market Overview for Residential Battery Storage' report, covering 2021-2025.

Analysing the harmony in between residential solar as well as batteries, brand-new figures show that European residential solar & storage rose by 44% to 140,000 set up devices in 2020. This marks the very first time more than 100,000 storage systems were set up in Europe in a 12-month period, with yearly setup capability also reaching GWh range very first time, as well as establishing a brand-new landmark in the European energy shift.

As the continent struggles through the most recent energy price dilemma, the report shows the cost-effectiveness of mounting storage to support residential solar. In Germany last year, households installing premium solar & storage systems taken advantage of a Levelized Cost of Electricity of 12.2 EUR cents/kWh-- almost one third of the regular electricity rate.

The appeal of batteries in supporting residential solar is most striking in Germany, which was responsible for 70% of the freshly mounted storage ability. The Leading 5 markets with each other, Germany, Italy, UK, Austria, as well as Switzerland, set up 93% of brand-new European solar & storage.

Walburga Hemetsberger, Chief Executive Officer of SolarPower Europe stated, "As the appeal of residential solar increases, more households are knowing that domestic storage systems will make best use of the value of their solar PV systems. While Europe is progressively affected by gas-related energy rate shocks, solar and storage is the clear solution to unstable energy rates."

Hemetsberger continues, "Combining solar & storage is crucial to attaining a climate-neutral EU by 2050. Not only will it enable the EU to increase the share of renewables, however notably, solar & storage will supply trusted, clean, and also cost-effective energy to homes as well as businesses throughout peak times. National policymakers have to acknowledge this enormous capacity and also considerably function dispersed storage in the alteration of their National Energy and also Climate Plans."

Michael Schmela, Head of Market Intelligence at SolarPower Europe said, "The EU Clean Energy Package offers Member States clear options to facilitate a Europe-wide BESS roll-out. If we wish to see the residential battery market develop past the very first couple of essential nations, and help secure people from climbing energy prices, more European governments require to relocate quicker to fully carry out the Clean Energy Package."

Schmela continues, "To ensure we can accommodate the anticipated uptake of solar & storage, while increasing the value of its flexibility possibility, we should reinforce and modernise power grids. Participative and routine grid preparation exercises need to be carried out at transmission and also circulation level, as well as system operators need to give openness on existing and future system requires."

Raffaele Rossi, Senior Policy Analyst at SolarPower Europe said, "To fulfill future environment-friendly energy demands, and also become aware the potential of solar & storage, Europe needs to develop a future-proof EU Battery Regulation which sustains the competitiveness of strategic industrial markets, as well as avoids burdening manufacturers or detering investors. It is essential to establish sustainability and top quality frameworks for battery requirements-- however any kind of framework must prevent distortive results on markets."