Report projects strong growth in residential storage in Europe in the coming five years – EQ Mag

Residential battery storage capacity in Europe is set to reach 9.3GWh by the end of this year, according to SolarPower Europe.

That is in the solar PV industry trade body’s Medium Scenario, which estimates the continent will reach 39.9GWh of residential storage by 2026. In its pessimistic and High Scenarios it could reach 23GWh or 44GWh by that year, respectively.

Some 2,294MWh was installed last year and SolarPower Europe is anticipating 3.9GWh of deployments over 2022 in its Medium Scenario, a 71% increase. The 2022 figure equates to around 420,000 batteries installed, which would push the continent over the one million mark.

Home batteries have become an attractive means to reduce electricity bills, especially during a year of huge rises, increased interest in energy resilience and lower carbon footprints. And the growth of residential solar, also helped by various government incentives, has laid the foundation for the attached storage market to take off.

The attachment rate between energy storage and solar has grown from 23% in 2020 to 27% in 2021.

Source: ieefa