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Energy storage demand in Europe enters ‘burst time’

European energy is in short supply, and electricity prices in various countries have skyrocketed along with energy prices for a period of time.

After the energy supply was blocked, the price of natural gas in Europe rose immediately. The price of TTF natural gas futures in the Netherlands rose sharply in March and fell back, and then began to rise again in June, rising by more than 110%. The price of electricity has been affected and has risen rapidly, and some countries have more than doubled the increase in a few months.

The high electricity price has provided sufficient economy for the installation of household photovoltaic + energy storage, and the European solar storage market has exploded beyond expectations. The application scenario of household optical storage is generally to supply energy to household appliances and charge energy storage batteries through solar panels during the day when there is light, and to supply energy to household appliances at night from energy storage batteries. When electricity prices for residents are low, there is absolutely no need to install photovoltaic storage systems.

However, when the electricity price soared, the economics of the solar-storage system began to emerge, and the electricity price in some European countries rose from 2 RMB/kWh to 3-5 RMB/kWh, and the system investment payback period was shortened from 6-7 years to about 3 years, which directly led to Household storage exceeded expectations. In 2021, the installed capacity of European household storage was 2-3GWh, and it was estimated to double to 5-6GWh in 2022 years. The shipments of energy storage products of related industry chain companies have increased sharply, and their contribution to performance beyond expectations has also promoted the enthusiasm of the energy storage track.

Post time: Feb-04-2023