The volume of batteries will increase from 3 GWh in 2020 to 12.8 GWh in 2025 – as reported in the company’s annual review of the European Market Outlook for Residential Battery Storage.
According to new data, the number of solar batteries and storage systems in residential homes in Europe rose by 44 % last year to 140,000. And the system of storing solar energy has proved economically viable.
“Last year, the number of households in Germany installing premium-class solar batteries and storage systems benefitted from the levelised cost of electricity of 12.2 EUR cents/kWh – nearly one third of the typical electricity price,” SolarPower Europe noted.
And German residents were the most active in Europe in stalling solar batteries in their homes. In overall terms, Germany, Italy, Great Britain, Austria and Switzerland accounted for 93 % of new solar batteries and storage systems installed in Europe.
According to the median scenario, the volume of storage facilities in European households in 2021 will total 4.4 GW and 12.8 GW in 2025, with an annual increase of 20 %. Under the most optimistic scenario, their capacity could reach 14.6 GW by the end of 2025, compared to 10.2 GW under the most pessimistic scenario.
But Michael Schmela, Head of Market Intelligence at SolarPower Europe, noted that maintaining that pace of growth means that “we must reinforce and modernise power grids”.And Raffaele Rossi, Senior Policy Analyst at SolarPower Europe added: “To meet future green energy needs, and realise the potential of solar & storage, Europe must develop a future-proof EU Battery Regulation which supports the competitiveness of strategic industrial sectors, and avoids burdening manufacturers or dissuading investors. It is crucial to establish sustainability and quality frameworks for battery requirements – but any framework must avoid distortive effects on markets.”