Under the general trend of accelerated development of the entire energy storage industry, household energy storage has also become one of the hotly contested tracks.
Judging from last year's shipments, China's "first brother" of household energy storage - Paineng Technology still ranks second in the world in global shipments, second only to the global household energy storage leader - Tesla Powerwall . However, since 2022, Tesla, Paineng Technology, Sonnen, Huawei, BYD, LG Energy, Hekang New Energy, Sunwoda, GoodWe, Toyota, etc. have accelerated the layout of the household energy storage track, and global households have The energy storage competition has entered the "Red Sea Stage".
Global enterprises accelerate the layout of household energy storage track
The heat of the household energy storage track has become an indisputable fact. However, it is not only Chinese companies that are gearing up, but the global household energy storage giants are also accelerating their deployment, and established car brands such as Toyota have also joined the track.
According to relevant statistics, the top three global household energy storage product shipments in 2020 are Tesla, LG Chem and Pine Energy Technology, accounting for 15%, 11% and 8.5% respectively. In 2021, this data will undergo a new round of refresh, and the top five global household energy storage product shipments will be changed to Tesla, Paine Energy, Germany's Sonnen, LG Chem, and China's Wotai Energy.
According to the latest statistics, in the field of household energy storage, Tesla, with its outstanding product strength and brand effect, accounts for 15% of the global household energy storage market, followed by China-based company Paineng Technology ( 2.62%), accounting for 13%, and the gap between them is gradually decreasing.
In Germany, where the penetration rate of household energy storage is relatively high, the brand Sonnen has the highest proportion of the household energy storage market, followed by BYD (5.63%). It can be seen that Chinese and foreign companies such as Tesla, Paineng Technology, Sonnen, BYD, and LG Energy are competing in the global household energy storage market and have entered the Red Sea stage.
At this critical moment of competition, there are still a number of emerging household energy storage companies in China accelerating their deployment in the global household energy storage market. In mid-May of this year, Intersolar Europe, the annual German solar energy professional technology fair, was held at the Munich International Exhibition Center, which also set off a small peak of Chinese companies "fighting" the European energy storage market. A number of domestic companies including Huawei, Sunwonda, Hekang New Energy, First Air New Energy, GoodWe and many other domestic companies made their debut to accelerate their entry into the European household energy storage market.
It is worth mentioning that Toyota Motor Corporation announced the launch of a home energy storage system "Home Power Supply System" on June 2, which can combine the whole-house power system with solar panels, power grids, and new energy vehicles to provide a home power solution. , itself is also used in response to disaster power outages, and the overall system is similar to the Powerwall system launched by Tesla. The system consists of a set of battery cells and converters placed outdoors, and applies battery technology for electric vehicles such as Toyota's battery control. It can supplement power for energy storage equipment in emergency situations through the external discharge function of electric vehicles.
In this comprehensive long-term competition for brand power and channel power, it is undeniable that in the short term, Tesla has already used its household brand Powerwall to take the lead in the global household energy storage market. According to reports, the global installation of Tesla Powerwall energy storage systems has exceeded 250,000 units, and it is expected that Powerwall will continue to grow at a rate of about 100,000 units per year in the future.
It is estimated that the scale of the household energy storage industry will reach about 50 billion yuan in 2025
Industry insiders believe that high electricity prices and cost reduction of optical storage systems are important sources of energy for overseas household energy storage to achieve economical efficiency. In 2022, electricity prices for European residents will rise significantly, and the conflict between Russia and Ukraine will further aggravate the high volatility of energy prices and the hidden concerns of European energy security, further expanding domestic demand. It is because of the superposition of these various factors that Chinese companies accelerate their "going overseas" while accumulating their own products in the early stage. According to the national tour of high-tech energy storage, most of the emerging household energy storage companies have entered the global market since the second half of last year. According to incomplete statistics, there are no less than 30 "scale enterprises" expanding household energy storage business.
It is reported that at present, the Chinese enterprises mainly based on Paineng Technology mainly focus on the European and American markets. However, orders from Paineng Technology, BYD, etc. have been placed until next year. Under such high demand, as the cost of energy storage on the user side continues to decline, and electricity prices continue to rise in major regions such as Europe, the time-of-use electricity price gap widens, and household "photovoltaic + energy storage" has entered the era of parity, and the economy has gradually emerged. Under the background of subsidy/tax credit policy catalyst and FIT contracts expiring one after another, the booming residential energy storage market has become a development trend.
The data from the German BVES report verifies this. By the end of 2021, the total sales of household energy storage in Germany will be 430,000 units, an increase of 145,000 units, a year-on-year increase of 45%. Due to the impact of the Russian-Ukrainian conflict on energy prices, the demand for household energy storage has further accelerated recently. It is expected that in 2022, the number of new household energy storage units in Germany will increase by 270,000 units, an increase of 86% year-on-year. Meanwhile, nearly 86% of respondents rated the outlook for the residential energy storage market in 2022 as "very positive" or "fairly positive."
It is reported that at present, household energy storage is mainly concentrated in countries or regions with high electricity prices and countries and regions with weak power grid facilities. This is also roughly an important destination for Chinese household energy storage companies to go overseas.
According to relevant data, Germany, the United States, Japan, and Australia currently account for the highest proportion of household energy storage in total. In September 2021, the average residential electricity price in Germany, Japan, and Australia ranks among the highest in the world, while areas with better residential energy storage development in the United States, such as Hawaii and California, also face higher residential electricity prices. In addition, in South Africa and other countries and regions, due to the relatively weak local power grid facilities or the threat of natural disasters from time to time, the relatively wealthy families have an urgent demand to allocate household energy storage to improve the reliability of power supply.
In 2025, the newly installed capacity will reach 28GWh. A complete set of household energy storage system includes the cost of battery system, inverter, other components, etc. The average hardware cost of household energy storage in 2021 is about 2.5 yuan/Wh, which is calculated based on the average annual cost reduction of 10% of the energy storage system It is estimated that the scale of the household energy storage industry will reach about 50 billion yuan in 2025. With such a large market space, it will definitely attract more companies to accelerate the influx of this track.