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European Market Outlook for Residential Battery Storage 2022-2026

A SolarPower Europe report. Find it here.

Η Solarplaza (οίκος με έδρα την Ολλανδία που δραστηριοποιείται διεθνώς από το 2004 στην προώθηση της ηλιακής ενέργειας), με στρατηγικό συνεργάτη τον Σύνδεσμο Εταιριών Φωτοβολταϊκών, διοργανώνει στις 15/11/2022 ημερίδα η οποία εστιάζει στην αξιοποίηση των ευκαιριών που προσφέρει το νέο θεσμικό πλαίσιο για τις ΑΠΕ.

Η ημερίδα θα πραγματοποιηθεί (στα αγγλικά) στο Divani Palace Acropolis (Παρθενώνος 19-25, Αθήνα). Λεπτομέρειες μπορείτε να βρείτε στη διεύθυνση:

https://www.solarplaza.com/event/solarplaza-summit-greece-2022/

The Solar Future Greece conference on 18 November 2021 in Athens is the premier platform for the Greek PV industry. This event introduces you to new market trends, evolving business models and the new era of hybrid projects while connecting with influential business leaders.

Greece’s PV market is steadily making its way to gigawatt status, with rising installation numbers (900 MW in 2020) and a proven auction scheme for solar development. Realizing solar’s crucial relationship with energy storage, the government recently also announced a 700 MW tender for storage, paired with €200 million in subsidies. The energy storage market will play an important role in the next 10 years.

More than 100 distinguished speakers from international and national energy companies, organisations, think tanks and academic institutions will participate at this year’s conference agenda which will focus on all current energy issues.

Register today for free and keep up to date on the latest developments in the energy sector.

HELAPCO is supporting this event.

Key takeaways:

In 2019, residential battery storage saw a huge leap in annual installed capacity: with 745 MWh added year-on-year, 57% growth compared to the previous year

Residential storage is a rapidly expanding market with a total installed capacity of nearly 2 GWh by end of 2019

Only 7% of European residential PV is coupled with battery storage, representing significant untapped market potential

Germany remains by far the largest residential battery storage market with a two-third market share – together with the other Top 5 markets (Italy, UK, Austria, Switzerland) they make up over 90% of the European market

Limited COVID-19 impacts on the market result in 810 MWh of installations anticipated for 2020, followed by a return to two-digit growth in 2021

1 October 2020, Brussels – During the SolarPower Summit, SolarPower Europe released the first edition of its new European Market Outlook for Residential Battery Storage, which analyses the market of residential battery energy storage systems (BESS) across the continent, and forecasts capacity for 2020–2024. The analysis shows that 2019 saw strong growth for home batteries in Europe, with 745 MWh of capacity added, representing 57% market growth. Germany remains the undisputed leader of BESS in Europe, with almost 500 MWh installed and a 66% market share. The Top 5 national markets – Germany, Italy, the United Kingdom, Austria, Switzerland – contribute to over 90% of the European market.

The report shows that the residential BESS market in Europe will see strong growth in the coming years. While the COVID-19 pandemic is set to take its toll in 2020 with a limited expansion of the European market at 810 MWh, a 9% growth rate, the deployment of home storage will accelerate again in 2021, boosted by recovery measures. Under the most-likely Medium Scenario, the GWh scale will be reached by 2022. Looking at cumulative capacities, a total of 7.2 GWh of residential batteries is projected to be installed by 2024.

Mark Reijerkerk, SolarPower Europe Board Member and Chair of the Solar & Storage Workstream, said: “The good news is that power generated and self-consumed at home from solar and storage already beats retail power in countries with high retail electricity prices. With retail power prices trending upwards, and solar and storage continuing its cost reduction path, this green power solution is only increasing its economic attractiveness. In Germany, for example, the majority of new residential solar systems are immediately paired with storage.”

Michael Schmela, Executive Advisor at SolarPower Europe and Co-author of the report, said: “We now need to see strong efforts to quickly expand the momentum from the pioneering markets across Europe. With European Green Deal instruments, such as Next Generation EU, and national recovery plans, there is a big toolbox available to continue this growth trajectory. The various EU Clean Energy Package directives provide the manual with the right policy frameworks that now need to be implemented to overcome existing barriers, such as double taxation.”

When looking at the energy transition and decarbonisation of the EU economy, BESS will play a pivotal role in a renewables-based power system. By providing flexibility and fast balancing services, BESS technologies provide the conditions that are vital for maximising the integration of high shares of variable renewable energy sources (VRES), as well as grid integration of electric transport.

Raffaele Rossi, Coordinator of SolarPower Europe’s Solar & Storage Workstream and Co-author of the report, said: “In a 100% renewable energy system, electricity storage becomes crucial in providing an uninterrupted energy supply, backing up to 24% of European electricity demand. In order to achieve this, distributed BESS installed capacity need to surge to 900 GWh by 2030 and 1,600 GWh by 2050, an immense growth from the level installed today. European and national policymakers should recognise this huge potential and promote distributed storage in their energy and climate plans.”

You can read the first edition of the annual European Market Outlook for Residential Battery Storage here.