By ESS news
EUPD Research is generally optimistic about the European market for residential battery energy storage systems (BESS) with a capacity of up to 20 kWh. According to their ‘Electrical Energy Storage Report Europe’, the Bonn-based analysts expect strong demand this year.
They expect around 5 GWh to be installed in the first half of the year and another 6 GWh in the second half of the year. However, growth in the continent’s largest markets could slow slightly – and as in the case of Germany, the number of new installations could even decline.
According to EUPD Research, around 270,000 home storage systems were installed in Germany in the first half of 2024, about the same as in the same period last year. Nevertheless, analysts expect BESS installations in Germany to decline by 5% year-on-year. This is due to less uncertainty surrounding electricity supply after the war in Ukraine, which mainly affected Germany and Italy – the two largest home storage markets in Europe.
A look at the other European markets paints a mixed picture. Poland and Hungary are considered emerging markets that, according to EUPD Research, will experience significant growth, especially in the fourth quarter of 2024. The driving forces are the numerous photovoltaic systems in private households and the need for greater network flexibility. In contrast, markets such as Sweden and the Czech Republic, where growth was high last year, are expected to slow down.
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