Europe Residential Energy Storage Market 2023-2030

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    EUROPE RESIDENTIAL ENERGY STORAGE MARKET

     

    INTRODUCTION

    The residential energy storage system is a device-based systematic framework that holds energy for future usage as electrical power.  A battery pack is perhaps the most prevalent form of ESS, and the most common battery system is a lithium polymer battery.

     

    Because these systems can pack a lot of energy into a tiny space, part of the same innovation is utilized in powered mobility, power equipment, and even cellular phones.

     

    ESS are commonly placed in houses to supplement solar panels, but they may be used to balance the cost of power by recharging when it becomes inexpensive and unloading when it becomes costly. Residential battery storage is required for such a photovoltaic household to operate throughout grid interruptions as well as overnight.

     

    Solar batteries help enhance system profitability by retaining solar power that would otherwise be sold back to the grid at a loss, only to then be redeployed at periods when energies would be most competitive.

     

    Residential battery technology safeguards the solar operator against power interruptions and the platform’s profitability from changes in utility rate structures.

     

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    The ESS technology system which supplements renewable energy sources (such as wind and solar), supports the nation’s electricity infrastructure, and could even supply individual houses during a power failure. This innovation has many amazing uses, but it also has inherent fire concerns, thus it is critical to control risks by adopting some fundamental safeguards.

     

    The introduction of new energy market technologies has resulted in the introduction of new components that can connect to every power system. Finally, the batteries must be suitably designed for both overall storage capability and immediate power drain to provide protracted, dependable functioning.

     

    EUROPE RESIDENTIAL ENERGY STORAGE MARKET DEVELOPMENTS AND INNOVATIONS

     

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Germany will continue to dominate European home battery market With Germany accounting for 70% of the home batteries installed in Europe last year and the biggest five markets – also including Italy, the U.K., Austria, and Switzerland – cornering 93%, SolarPower Europe expects France to supplant the latter in an otherwise identical line-up in 2025. Europe – Germany This would enhance better Technologies and production

     

    EUROPE RESIDENTIAL ENERGY STORAGE MARKET DYNAMICS

     

    The rise of battery storage in the electricity sector has piqued the interest of business and media alike. Most of that effort is on power distribution battery packs as well as commercial and residential battery packs.

     

    While bigger systems are essential areas of the energy-storage market, the sudden increase of home storing energy is surpassing expectations, and small household frameworks might very well certainly be becoming key assets quicker than most others anticipated.

     

    Many people plainly desire the additional control, dependability, and resilience that comes from having a battery at residence.

     

    As a consequence, many communities may soon have an unexpected resource in the form of a network of residence battery packs that domestic consumers have indeed purchased for and are therefore not used on a daily basis.

     

    Considerations such as the rising need for continuous and dependable electrical supply, as well as the increased use of solar rooftop systems by the residential sector, are projected to be significant drivers again for the industry under consideration.

     

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    Federal programs such as net metering have already been important contributors to the adoption of rooftop solar, which is projected to increase future requirements for home energy storage technologies.

     

    The high installation cost for solar plus battery solutions, on the other hand, is projected to stymie the expansion of the household electricity storage solutions sector in emerging and developing nations in the future years. Within the European Union, industrialized nations such as Germany and France predominate the household energy storage solutions industry.

     

    The energy crisis and shortages brought on by conflict in Europe, China’s mandated energy storage integration program, and the United States IRA highlight the pressing necessity for energy storage even as the globe works toward an energy transformation.

     

    Lithium price fluctuations, which first appeared to be generating a crisis, instead accelerated the business, causing manufacturers to stockpile cells and invest money more aggressively, pushing the energy storage sector to new heights. 

     

    As a result of rising business investments, several industry trends including residential ESS, standalone ESS, sodium-ion batteries, supply chain reshoring, and large-capacity cells have emerged.

     

    Due to inferior policy and procedure planning, supply chain development, renewable installation progress, grid construction, and infrastructure resources compared to mature markets, emerging markets risk falling further behind and taking longer to bring capacity online due to more variables affecting the progress. 

     

    For instance, measures made by the emerging Europe Residential Energy Storage market often try to promote the use of renewable energy. For increasing demand or advancing the energy storage business, there is no obvious path. The goal proportion of renewable energy in North African and Middle Eastern nations is displayed in the table below.

     

    EUROPE RESIDENTIAL ENERGY STORAGE MARKET SEGMENTATION

     

    The Europe Residential Energy Storage Market can be segmented into following categories for further analysis.

     

    Europe Residential Energy Storage Market By Application

    • Commercial Application
    • Industrial Application
    • High-Capacity User Application
    • Residential Application

     

    Europe Residential Energy Storage Market By Usage Classification Type

    • Battery Energy Storage System
    • Pump Storage Hydroelectricity System
    • Thermal Energy Storage System
    • Flywheel Energy Storage System
    • Mechanical Storage System
    • Electro Chemical Storage System

     

    Europe Residential Energy Storage Market By Operational Technology Type

    • On Grid Systems
    • Off Grid Systems

     

    Europe Residential Energy Storage Market By Power Rating Type

    • 3 kW to 6 kW
    • 6 kW to 10 kW

     

    Europe Residential Energy Storage Market By Regional Classification

    • Austria
    • Belgium
    • Bulgaria
    • Croatia
    • Republic of Cyprus
    • Czech Republic
    • Denmark
    • Estonia
    • Finland
    • France
    • Germany
    • Greece
    • Hungary
    • Ireland
    • Italy
    • Latvia
    • Lithuania
    • Luxembourg
    • Malta
    • Netherlands
    • Poland
    • Portugal
    • Romania
    • Slovakia
    • Slovenia
    • Spain
    • Sweden

     

    EUROPE RESIDENTIAL ENERGY STORAGE MARKET RECENT PRODUCT LAUNCH

     

    At Intersolar Europe last week, Trina Storage introduced its new lithium iron phosphate (LFP) utility-scale battery storage cabinet, and Sungrow introduced its new line of residential battery storage.

     

    The vertically integrated solar PV module manufacturer Trina Solar, with its headquarters in China, offers fully integrated battery energy storage system (BESS) solutions to the grid storage and renewable energy industries.

     

    Trina Storage introduced Elementa, its LFP battery cabinet, at the Intersolar Europe / Electrical Energy Storage Europe trade show last week in Munich, Germany, following the company’s official launch in February of this year.

     

    Elementa is a fully integrated, modular energy storage system that requires less wiring and simpler logistics than some of its rivals.

     

    It is designed for plug-and-play installation.  According to a promotional film the company uploaded on YouTube, the liquid-cooled cabinet has a minimum capacity of 1,800kWh and a C-rate of 0.25–1 C.

     

    The cabinet is made to be expandable in accordance with customer needs. Fully integrated means that it incorporates thermal management, safety measures, including batteries and battery management system (BMS).

     

    According to Trina Storage, it also facilitates simple maintenance and higher availability. Uniform heat dissipation is provided by the bi-directional flow liquid cooling technology, which leads to higher performance and longer battery life.

     

    RECENT TECHNOLOGICAL TRENDS IN EUROPE RESIDENTIAL ENERGY STORAGE MARKET

     

    Residential Storage Solutions (ESS) provides a comprehensive range of services and solutions to help build and maintain resilient energy infrastructures at a minimal cost. ESS has two major applications. The first is to build utility-free, solar-powered dwellings. The second use case, on a bigger scale, is utility augmenting produced electricity during moments of high demand (utility-scale ESS).

     

    Inverters, which convert power from solar panels to AC electrical power during daylight hours, connect older demographic domestic solar energy systems to the utility power grid. Excess electricity that is marketable might be sold back to utility providers. During the hours of darkness, nevertheless, the end-user is reliant on the utility’s electricity system.

     

    Utility firms are aware of these constraints and have adjusted their pricing methods as a result. Manufacturers and developers are continuously challenged with the requirement for improved efficiency, power density, and reliability in their system designs as the quantity of battery types and ESS variations grows. The two major system-coupling architectures for domestic ESS, which are typically associated with PV installations, are DC-coupled and AC-coupled.

     

    The energy stored in the battery is boosted to a certain DC-bus voltage, commonly in the 400V range, in a DC-coupled arrangement.  This system is connected immediately towards the DC line through a DC/DC converter, rather than converting DC to AC. The stored energy from the battery is sent immediately through the AC grid in an AC-coupled system. Both a DC/DC converter and an AC/DC inverter are utilized in this scenario.

     

    With Silicon Carbide innovation, a cutting-edge trench semiconductors operation is tailored to provide both the minimum operational inefficiencies and the best operational dependability.

     

    NEW PRODUCT LAUNCH

     

    S No Company Name Development
    1 Eternalplanet A top supplier of solar energy solutions, Eternalplanet is a consumer-focused independent brand of energy technology. Eternalplanet introduced EP Cube, a household energy storage device for the European market, at the International Energy and Environment Fair. Since successfully entering the American market, EP Cube’s global strategy has advanced with this new stage.
    2 JinkoSolar One of the biggest and most creative producers of solar modules worldwide, JinkoSolar, today formally introduced its Second Generation of High Voltage Energy Storage Battery into the European market. A high-performance energy storage system for household and small business applications, the improved model is the JKR-B12502750-A. It has a self-created Jinko HV battery with a single pack capacity that operates on a high-quality cell with a long cycle time at room temperature. 

     

    An integrated home energy storage system is EP Cube. The system enables users to efficiently manage energy generation, consumption, and storage at home by integrating a hybrid inverter and modular lithium iron phosphate batteries. 

     

    The system also features a remote control, a customizable storage capacity, an appealing and compact design, fast installation, and safe and dependable functioning.

     

    The second Generation of High Voltage Energy Storage Battery offers wireless connectivity between packs as well as current for charging and discharging. It guarantees complete system safety with IP65 protection and a cell-level anti-fire design.

     

    A broader operating temperature range, three levels of isolation, and BMS protection logic are all features of the product’s unique heating technology that increase safety. JinkoSolar gives the sustainability of the entire production process a lot of consideration. 

     

    It is finished using a completely automated production line, which significantly lowers energy use, achieves a high level of quality control, and boosts productivity.

     

    A new brand called Rimac Energy has been introduced by Rimac Technology, and its goal is to “accelerate the transition towards a sustainably powered planet.” According to the new division, it would use the bigger Group’s knowledge of EV and battery technology to provide energy storage solutions (ESS) and battery-buffered fast chargers.

     

    The bigger Rimac Group, which includes Rimac Automobili, the company behind the Nevera electric hypercar, and the joint venture between Rimac and Porsche to build the Rimac Bugatti, has an established division called Rimac Technology.

     

    Rimac Technology produces batteries, converters, and other vehicle systems for both its own Group EVs and other OEMs, while the other two businesses concentrate on EV development and manufacturing.  And each and every one of them will be totally conceived, produced, and designed in Europe.

     

    There are already a dozen partnerships between Rimac and other automakers in place, some of which call for the delivery of battery cells, such as the 46mm design they covered last summer.

     

    In order to achieve the highest conversion efficiency rate possible, Rimac disclosed that it was trying to slenderize the rest of its battery packs to complement its energy-dense cells. For instance, Rimac originally claimed that the Nevera’s efficiency was at 67%; however, the company’s objective is to produce modules that give an efficiency of 75% cells per pack before they plan to begin production.

     

    Rimac Technology’s newest brand, Rimac Energy, aims to incorporate that cutting-edge battery technology into stationary energy storage solutions.

     

    Rimac Technology released information about its newest venture, Rimac Energy, which will be based at the organisation’s sizable campus in Croatia. The business is concentrating on creating a product portfolio that includes “utility-scale ESS, commercial & industrial applications, and highly integrated battery buffered charging solutions,” according to the company.

     

    The first generation of the new company’s stationary energy storage solutions is being developed by its team of 60 individuals, who have been gradually assembled over the past 18 months from within Rimac Technology.  Innovation and a desire to push the boundaries of what is possible in the automobile business have always been the driving forces at Rimac.

     

    Nevertheless, they are aware of the necessity of fixed storage options for sustaining ably supplying energy to the globe. They are confident that they will play a crucial part in establishing Europe’s future energy ecosystems and elevating it on the international stage given their track record in cutting-edge battery technology. 

     

    Using megawatt and fast battery-buffered charging technology that is already in development, Rimac Energy intends to offer solutions for big commercial, industrial, and utility-scale applications. According to the company, many initiatives are already being discussed with customers.

     

    This year, it will first create trial systems for a small number of customers. When that procedure starts, Rimac stated that it plans to grow steadily until it can produce more than 10GWh yearly.

     

    RECENT PRODUCT DEVELOPMENT AND INNOVATION

     

    Under Canadian Solar, a top supplier of solar energy solutions, Eternalplanet is a consumer-focused independent brand of energy technology. Eternalplanet introduced EP Cube, a domestic energy storage device for the European market, at the Genera 2023: International Energy and Environment Fair hosted in Spain. Since EP Cube’s successful entry into the American market last year, this is a new stage in the company’s global strategy.

     

    An integrated home energy storage system is EP Cube. The system enables users to efficiently manage energy generation, consumption, and storage at home by integrating a hybrid inverter and modular lithium iron phosphate batteries.

     

    The system also features a remote control, a customizable storage capacity, an appealing and compact design, fast installation, and safe and dependable functioning.

     

    A single battery module with a stackable and modular storage system has a capacity of about 3.3 kWh and weighs 35 kg. The device is simple to install and transport because of its design. 2–6 battery modules can be stacked on top of each unit.

     

    The entire unit is offered in five sizes, with total capacities ranging from 6.6 kWh to 19.9 kWh. The modules come in five sizes and can satisfy a range of domestic energy requirements.

     

    In contrast to conventional storage units, which typically take the form of a large, heavy, and hefty ironbox, EP Cube is small and thin, taking up less room.  The product is more appealing and a suitable complement for various home design types thanks to its sleek and stylish gray metal shell. Safety has always been a primary priority for EP Cube. The system aims to provide long-term energy solutions that adhere to strict safety requirements.

     

    It uses lithium iron phosphate, a material with outstanding chemical and thermal stability that has earned a number of IEC certifications, to make its batteries. A hybrid inverter, two MPPT connections, and a maximum 16 Amp photovoltaic (PV) DC input are all supported by the EP Cube. Additionally, it may store DC energy from the grid and current PV systems.

     

    Additionally, a maximum of 7.4kW EV chargers can be attached to the EP Cube. The price of home rewiring will be lower due to this excellent compatibility. The management and operation of EP Cube are quite sophisticated. It has Ethernet and WiFi connectivity. Furthermore, it supports OTA (Over-the-Air) firmware upgrades.

     

    With EP Cube, solar energy may be fully utilized to store energy, reducing reliance on the grid, assisting consumers in lowering their electricity costs, and significantly reducing carbon emissions. Strong compatibility, integrated design, modular batteries, and inexpensive installation and management costs all help to minimize resource waste.

     

    VARTA AG, its new factory will start producing household energy storage systems this summer. The mega factory is situated in the Neunheim location in Ellwangen, Baden-Württemberg, Germany, with an investment of more than 20 million euros.

     

    The factory will create up to 100,000 energy storage systems annually, according to the business. The annual production output will be greater than one-gigawatt hour with an average energy storage system capacity of ten-kilowatt hours.

     

    COMPETITIVE LANDSCAPE IN EUROPE RESIDENTIAL ENERGY STORAGE MARKET

    Numerous nations’ power grids have been under growing pressure. Grid components are becoming obsolete. Transient renewable technologies provide growing levels of electricity, necessitating increased load balancing.  Adverse weather is becoming more common. These developments exacerbated inefficiencies and bottleneck spots in the energy delivery system, leading to greater prices and the prospect of more local rolling blackouts.

     

    Utilities have been working to improve grid reliability and resilience. Several utility companies currently run demand-response programs, which encourage individuals to minimize their power use during peak demand periods.

     

    ABB is a leading developer and installer of residential energy storage systems in the European market of operations. They operate residential energy storage systems that are typically used in combination with solar systems, where DC voltages are not very high and are rarely greater than 500V DC.

     

    ABB’s low-voltage inventory includes a variety of small circuit breakers and switch-disconnectors featuring fuses that may be utilised on the DC battery side to provide basic safety features. To round out the solution, overcurrent protection sensors of type B and a full variety of energy metres built expressly for interaction and communication are available.

     

    These home automation systems have already been combined using Their OVR data family of SPDs is intended to safeguard technology linked to data lines in addition to the OVR power products, providing a full system protection solution with the integration of power & data. The extensive portfolio covers protection for twisted pair data connections as well as potentially dangerous settings.

     

    Hitachi Energy Systems is also a developer and manufacturer of residential energy storage systems in the operational market. The entity has brought in the PQstorI storage systems under the residential systems which is the newest development of storage technology inverters from Hitachi Energy.

     

    PQstorI is designed to meet the demands of the rapidly developing energy storage industry for behind-the-meter technologies including such maximum shaving, backup generators, and power quality, as well as utility scale applications such as load levelling, switching frequency, power stabilizing, including renewables incorporation.

     

    PQstorI provides several advantages such as flexibility, adaptability, and increased efficiency for energy storage applications that require world-class 3-level bi-directional integrators.

     

    PQstorI’s ability to work with any third-party microcontroller and its variety of installation choices make it an ideal choice for technology providers and customers searching for energy storage solutions. PQstorI’s functioning is really simple. The gadgets can be managed and controlled thanks to advanced connectivity characteristics.

     

    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in theIndustry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
       
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