The largest home energy storage markets in Europe
Energy from photovoltaics is increasingly used in households, creating a need for home energy storage facilities. These devices are rapidly gaining popularity worldwide. In Europe, the largest markets are Germany, Italy, the UK, Austria, and Switzerland.
The Solar Power Europe report states that in 2019, 745 MWh of new home energy storage units were installed, marking a 57% increase from the previous year. The total installed capacity then reached nearly 2 GWh. The analysis also showed that the industry has untapped potential, as only 7% of European residential photovoltaic systems are connected to energy storage. Achieving 100% renewable energy storage remains a significant challenge for Europe. We discussed the importance of home energy storage in another article.
The largest European markets for home energy storage
The five largest European countries—Germany, Italy, Great Britain, Austria, and Switzerland—comprise over 90% of the European market. Among these, Germany holds the largest market share for home energy storage. In 2019, Germany installed 63,000 home storage systems with a total capacity of approximately 496 MWh. This accounts for roughly 66% of Europe’s total residential storage facilities.
Forecasts for the home energy storage market
The European home storage market is currently experiencing a growth trend that is expected to continue across the continent in the coming years. Despite economic uncertainties, the energy and storage markets require rapid development. Solar Power Europe has analyzed several scenarios, with the most likely (average) predicting annual growth rates of approximately 14% in 2021, 11% in 2022, 13% in 2023, and 16% in 2024. This scenario anticipates the installation of about 140,000 new systems per year.
According to the report, there is an increasing urgency to store all energy generated from renewable sources to ensure uninterrupted energy supplies. Achieving this goal could potentially cover up to 24% of Europe’s electricity demand. However, meeting these targets requires increasing installed storage capacity to 900 GWh by 2030 and 1,600 GWh by 2050. While this represents a significant challenge, widespread adoption of distributed storage solutions by all countries can greatly facilitate the realization of these ambitious plans.
About the Solar Power Europe report
The report from Solar Power Europe is widely regarded as one of the most reliable sources for analyzing the solar energy market, covering both production and usage trends globally. It provides comprehensive insights into the development of solar energy across various countries. With its extensive data and forecasts, the report serves as an invaluable resource for understanding the current state and future prospects of the solar industry.
Sources:
Solar Power Europe Report,