What Is Household Energy Storage, And Can Household Energy Storage Be Vigorously Developed？

Affected by the Russia-Ukraine war since 2022, Europe is facing an energy crisis. Electricity and conventional energy prices are already rising. High energy prices such as coal and oil have also pushed up electricity prices in Europe. So today, Xiaobian here to give you the relevant knowledge of household energy storage, let's take a look!

What is household energy storage, and can household energy storage be vigorously developed

Household energy storage: Blue Ocean Market

What is energy storage? Simply put, it is to save the electricity generated until it is ready to use. From the production of electricity to the final use, the approximate process is: production of electricity (power plants, power stations) - transmission of electricity (grid companies) - use of electricity (users).

In the above three links, energy storage can be established, and energy storage can be divided into power generation side energy storage, power grid side energy storage and user side energy storage according to the application scenario. Household energy storage can also be called home energy storage, through the combination of distributed photovoltaic and home energy storage. In the residents' homes, new energy power generation equipment such as solar energy supplies power to the home, while managing electricity, storing excess electricity, and supplying it to the grid.

In the final analysis, the core logic of the growth of household energy storage comes from the fact that home energy storage can improve the efficiency of self-generated electricity and reduce economic costs. Especially under the Russia-Ukraine conflict, the reduction of economic costs and the characteristics of "self-sufficiency" are particularly important. What is the prospect of home energy storage, perhaps from a group of data in the United States, we can find out. According to Energy Sage's survey of the needs of household energy storage users in the United States, ensuring the reliability of electricity and achieving the purpose of self-power supply, as well as economic reasons, have become the main reasons for the majority of users to support home energy storage.

Why home energy storage is so concerned by the market is related to the characteristics of home energy storage. First of all, from the user side, home energy storage can play a role in reducing electricity bills. This is especially important in the face of energy shortages.

The second is to improve the reliability and stability of power supply, I believe that everyone has paid attention to the news of power outages in various regions this year. Home energy storage can be used as an emergency power supply to reduce the adverse impact of power failure on normal life, and as an emergency backup power supply in the face of major disasters resulting in grid power interruption, improving the reliability of home power supply.

Overseas energy storage market surges

In the global home energy storage market, the installed capacity of the four countries of the United States, Germany, Japan and Australia far exceeds that of other countries. In terms of shipments, Europe, the United States, Japan and Australia are in the forefront.

According to CICC data, in 2020, the global household energy storage installed capacity is 4.5GWh, of which Germany, the United States, Japan and Australia are the top four installed markets, with installed capacity shares of 25%, 23%, 18% and 9% respectively.

The main countries developing family reserves are the United States, Germany, Australia and so on. Due to rising electricity prices, overseas countries' demand for self-generated renewable energy and storage is surging.

Among them, the European market is developing more rapidly. One of the reasons is due to the Russia-Ukraine war, the European region energy shortage, the urgent need to develop clean energy to ensure energy supply.

Looking at the European market, Germany has the best development in home energy storage. The reason is related to the soaring price of electricity in Germany and Germany's good new energy base. According to the data of the Financial Association on August 16, the base load electricity price delivered in Germany rose by 13.3%, and hit a new high of 555 euros/megawatt hour.

Secondly, because the development of the new energy industry in Germany is relatively good, the residential solar supporting facilities are also very perfect.

At the same time, European countries have introduced a series of favorable policies to promote the energy transition. Germany, for example, brought forward its 100 percent renewable energy generation target from 2050 to 2035, according to the "Easter Package", which aims to achieve 80 percent renewable power generation by 2030.

Energy storage has a bright future

Under the goal of global carbon neutrality, clean energy will gradually replace fossil energy, wind power and photovoltaic power generation will become the absolute main force of new energy, and the installed capacity will continue to maintain high growth.

With the increase in the proportion of new energy generation, the demand for energy storage will also be further improved. Energy storage is widely used in the power generation side, the power grid side, and the power consumption side, and can solve the problems of new energy power generation, instability, randomness, intermittency and so on.

With the development of new energy around the world, every household may be equipped with distributed power generation in the future. With the increase of the proportion of new energy generation, the power balance mode of the entire power system also needs to be reconstructed, and the necessity of portable energy storage will be further highlighted.

Energy storage is a related field of carbon neutrality, and its development prospects are quite broad. As one of the most important links of decarbonization, energy storage will attract more and more attention. Especially in this year's Russia-Ukraine conflict and the European energy crisis, the importance of energy storage has become prominent. In the first half of this year, Europe's household photovoltaic system installed capacity has grown rapidly, greatly exceeding market expectations.

With the further improvement of home energy storage related technologies and the decline of related costs, the energy storage market will usher in further growth. At present, the cost of energy storage system has yet to be reduced, and the European and American markets are still the main ones in the field of home energy storage. However, there are still huge potential users in China, and the market for home energy storage is still worthy of attention.