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Growth continues despite Covid-19 headwinds

The global residential energy storage market continued to grow in 2020, writes IHS Markit Analyst Michael Longson. Many suppliers were looking to build upon a strong first quarter when Covid-19 hit in March 2020 and slowed the market significantly. However, as a result of several funding packages being introduced and the gradual easing of local restrictions, shipments continued to grow throughout the second and third quarters, enabling strong year-on-year growth for the sector in 2020.

By

pv magazine

11 Feb 2021

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Image: IHS Markit

Although most economies were hit by various efforts to curb the global pandemic, some countries with more lenient restrictions for energy storage installers performed stronger than expected in the second quarter.Germany provides a standout example, having now delivered quarter-on-quarter growth in residential storage installations for eight consecutive quarters (Q4 2018 – Q3 2020). Shipment data …

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