1.Promotion and acceleration of Home energy storage battery system
At present, the penetration rate of household photovoltaics in Europe is relatively high. Taking Germany as an example, 1,131MW will be newly installed in 2020 alone, covering 151,700 households. The United States is also gradually promoting it. In 2019, the newly installed photovoltaic capacity of households in the United States was 2.8GW, of which California exceeded 1GW, and other regions are also accelerating.The growth of household photovoltaics has driven the application of lithium iron phosphate batteries, more and more home energy storage systems use lifepo4 batteries now, because China LiFePO4 battery lasts longer.
2. European energy crisis
Europe’s energy problems are serious enough right now, the Russian-Ukrainian conflict has been going on for eight months, natural gas prices in many places are at record highs, and utility bills have tripled. Looking forward to the future of energy transformation in Europe, the use of renewable energy may be an inevitable trend, so there will be more applications of lithium iron phosphate energy storage batteries. For several wealthy Nordic countries, the energy transition has basically been achieved, so household energy storage batteries will continue to be widely used.
3.Driven by economic interests
Once the household electricity expenses increase, how to reduce the electricity cost will become the consideration of more and more households.
If photovoltaic self-consumption is installed on the idle roof, and household energy storage is configured for night use or peak shaving and valley filling, then the electricity expenditure of the whole family will be greatly reduced, and at the same time, through the “Powerwall battery + grid-connected inverter” surplus electricity to connect to the state grid, even can get extra economic income from selling electricity。Among them, if financing tools are introduced, costs can be further reduced.
4.Requirements for power stability
Power stability requirements is importanct, because there is a strong thermal power involved in frequency regulation. In places where the power grid is more fragile, such as the United States, the demand for home energy storage is relatively strong, In particular, the stimulus of the California fires and typical natural disasters such as last year’s Texas blizzard has accelerated the popularity of home energy storage，That’s why residential PV is common in California (over 1GW installed last year), and that’s just the beginning.