'Huge possibility' for Europe's residential battery storage market as Germany pioneers development
- Europe's residential battery power storage systems (BESS) market is anticipated to proceed its higher trajectory in the coming years after 745MWh of additional capability was set up in 2019, standing for a 57% rise year-on-year.
That's according to brand-new analysis from trade body SolarPower Europe, which states complete installed capacity reached virtually 2GWh at the end of 2019 and also exposed that a "substantial untapped market potential" exists as just 7% of European residential PV is combined with battery storage space.
While COVID-19 is anticipated to take its toll on the market in 2020, with year-on-year growth forecast at 9%, this effect is less than formerly assumed as a result of the resilience of the German market.
With virtually 500MWh installed and a 66% market share, Germany is without a doubt the leading European market for residential BESS. In 2019, the nation installed 63,000 residential battery storage space systems with a complete capacity of around 496MWh.
In total, Europe's leading 5 countries-- Germany, Italy, the UK, Austria, Switzerland-- amount to over 90% of the European market.
Michael Schmela, executive expert at SolarPower Europe, said efforts are currently required to broaden the energy from the introducing markets across the continent. "With European Green Deal instruments, such as Next Generation EU, as well as national recovery strategies, there is a large toolbox offered to proceed this development trajectory."
In spite of the downturn in development this year, the release of home storage will certainly speed up once again in 2021. According to SolarPower Europe's most-likely medium circumstance, yearly development price is expected to be in the two-digit range once again at 14% in 2021, boosted by healing plans, after that decreasing to an 11% growth price in 2022, prior to going up to 13% in 2023 and also 16% in 2024.
This scenario expects that the 1GWh storage capacity enhancement limit need to be reached in 2022, corresponding to about 140,000 brand-new systems set up per year.
The analysis says in a 100% renewable energy system, electricity storage space comes to be important in providing a continuous energy supply, backing up to 24% of European electrical power demand. "In order to attain this, dispersed BESS installed ability requirement to rise to 900GWh by 2030 and 1,600 GWh by 2050, an enormous development from the level set up today, claimed Raffaele Rossi, planner of SolarPower Europe's Solar & Storage Workstream.
" European as well as nationwide policymakers should recognise this substantial capacity and also promote dispersed storage in their power as well as climate plans."