From ESS News
EUPD Research is generally optimistic about the European market for residential battery energy storage systems (BESS) with up to 20 kWh capacity. According to their “Electrical Energy Storage Report Europe”, the Bonn-based analysts expect strong demand this year.
They expect around 5 GWh to be installed in the first half of the year and a further 6 GWh in the second half of the year. However, growth in the continent’s largest markets could slow down slightly – and as in the case of Germany, the number of new installations could even fall.
According to EUPD Research, around 270,000 home storage systems were installed in Germany in the first half of 2024, roughly equivalent to the same period last year. Nevertheless, analysts expect BESS installations in Germany to decline by 5% year-on-year. This is due to less uncertainty around electricity supply following the war in Ukraine, which particularly affected Germany and Italy – the two largest markets for home storage in Europe.
A look at the other European markets paints a mixed picture. Poland and Hungary are considered emerging markets which, according to EUPD Research, will experience considerable growth, especially in the fourth quarter of 2024. The drivers are the numerous photovoltaic systems in private households and the need for greater grid flexibility. In contrast, markets such as Sweden and the Czech Republic, where growth was high last year, are expected to slow down.
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Home storage systems are poised for significant growth in Europe, particularly in emerging markets like Poland and Hungary. Despite a slight decline anticipated in Germany, the overall momentum suggests a strong demand for residential battery energy storage, driven by the need for grid flexibility and increased solar adoption.