DECENT POWER

　　Date:2023-04-22 Source:International Energy Network/Energy Storage Headlines

　　Key words:household energy storage,energy storage market,installed capacity of energy storage

　　European market:Driven by economics,the demand for household energy storage continues to be strong:in 2022,catalyzed by the sharp rise in residential electricity prices,the newly installed capacity of household energy storage in Europe will jump.Although the current European government has introduced a"windfall profit tax"to intervene in energy prices,and natural gas prices have shown a downward trend,we believe that the impact of the above situations on European wholesale electricity prices is relatively limited.This is mainly because the windfall profit tax is mainly used to limit the extremely irrational electricity price.After the price limit,the average electricity income of the owners is still at a high level;and the effective control of the natural gas price is the result of the local government actively increasing reserves and restricting consumption.It still takes time to repair the gas pipeline of the Creek,and we believe that the relationship between supply and demand of natural gas in Europe cannot support the continued low price of gas.In addition,even assuming a downward trend in wholesale electricity prices,electricity prices for European residents are still determined by the relationship between supply and demand under the market-based trading mechanism,rather than simple cost-plus pricing.Therefore,we expect that electricity prices for European residents will remain at a relatively high level,which can support the economics of household solar-storage systems.Under such circumstances,the demand for household storage in Europe is expected to continue to be strong,and the newly installed capacity may reach 13GWh in 2023.

　　U.S.market:The demand for backup power opens up the household energy storage market space:Although the implementation of the net electricity metering policy has weakened the economics of household energy storage in the U.S.market,due to frequent power outages,U.S.residents are concerned about the safety of electricity consumption,There is a strong demand for independence.In this context,household energy storage systems have a more important attribute of"household appliances"for American residents.Looking forward,in addition to energy security demands,the gradual retreat of net electricity metering policies and the introduction of household energy storage subsidy policies in various states are also expected to jointly promote the increase in demand for household energy storage in the United States.Considering that the current scale of household storage in the United States is still small,we expect its demand growth rate to remain high,and the market space is expected to reach 4GWh in 2023.

　　Global market:The demand for energy storage is blooming in many places:In addition to major markets such as Europe and the United States,the household energy storage market in various countries around the world is also driven by different factors.The rapid development of rooftop PV in Australia has accounted for 8.1%of the country's total power generation,and the problem of consumption has become increasingly prominent,and the installation of household energy storage may become one of the effective solutions.We judge that Australia's new photovoltaic distribution The storage ratio is expected to remain at a relatively high level,which will drive the demand for household storage to improve.The power shortage problem in the South African market is prominent,and there is an urgent need to increase investment in power and energy storage.According to the forecast of the World Bank,the cumulative installed capacity of energy storage batteries in South Africa is expected to increase by 30-55 times between 2020 and 2030.Benefiting from the vigorous development of the above-mentioned market,we predict that the global installed capacity is expected to reach about 35GWh in 2023,a year-on-year increase of about 94%.In the long run,energy storage is a necessary prerequisite for supporting the installed capacity of clean energy,so its potential is great.From 2023 to 2025,the global installed capacity of energy storage is expected to continue to improve,and the CAGR of newly installed capacity is expected to reach 57%.