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, categorized 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 extreme irrationality 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, compared to simple cost plus pricing. Thereforee, 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 outputs, 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 gradient reat of net electricity metering policies and the introduction of household energy storage subsidiary policies in variable states are also expected to join the increase in demand for household energy storage in the United States. Consulting 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 expanding 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 been accounted for for for 8.1% of the country&# 39; S total power generation, and the problem of consumption has become increasingly progressive, and the installation of household energy storage may become one of the effective solutions. We judge that Australia&# 39; 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 urgent, and there is an urgent need to increase investment in power and energy storage. Recording 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 essential 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%