Home energy storage is one of the hottest tracks in the energy storage industry in 2022. The global energy crisis has stimulated the explosion of European household storage installations. Taking the German market as an example, according to statistics, about 220,000 new residential energy storage systems will be added in 2022, which is more than double that of the same period last year.
In other strong markets such as Italy, Spain, and Eastern Europe, the installed capacity of household energy storage is in short supply throughout the year, and household storage orders are generally scheduled until April 2023. The global material and energy inflation crisis has strengthened the economics of household energy storage projects, and household energy storage has become one of the tracks for the accelerated deployment of the entire industry such as systems, batteries, and inverters.
From the perspective of the household energy storage battery track, the shipments of BYD, Great Power, FEB, REPT, etc. will continue to rise in 2022. HITHIUM, ZTT, etc. have released new household energy storage batteries, accelerating their entry into the household energy storage track. From the perspective of the household energy storage system track, BYD, Pylon Tech, Sungrow, FEB, etc. are accelerating the competition in the global household energy storage market.
From the perspective of household energy storage inverters, GOODWE, GINLONG and SOFAR will all achieve geometric growth in 2022. China's mainstream manufacturers such as Sungrow, SOFAR, and GROWATT have successively deployed battery-inverter integrated machines. All-in-one machines have become an important development trend.
1. Battery technology race accelerates
According to statistics, the shipment of household energy storage batteries in 2022 will be 25GWh, a year-on-year increase of 354.5%. From the perspective of the competitive landscape of home energy storage battery companies, CATL, BYD, Great Power, GOODWE, etc. will achieve rapid growth in 2022. Among them, Great Power will achieve a 6-fold increase in H1 in 2022. At the same time, HITHIUM released a large cylindrical battery for household energy storage in August this year, becoming the first battery company in the market to apply cylindrical battery technology to the household field.
According to the analysis of industry professionals, from the perspective of household energy storage batteries themselves, 100Ah and 50Ah square aluminum shell batteries are still the main ones. However, large cylindrical batteries, mainly 40 and 46 series, have entered the household energy storage track and will become one of the important battery choices for the household energy storage battery track. In the window period of 2022, FEB, REPT, ZTT, etc. will also accelerate their competition in the household energy storage track, showing a high growth trend.
FEB deploys LFP 50Ah energy storage cells. The life of the system equipped with self-developed cells is greater than 6,000 cycles, which can guarantee a service life of more than 10 years. ZTT has released 100Ah/50Ah household energy storage cells to accelerate its entry into the household energy storage market. REPT has successively released two new household energy storage batteries, 72Ah and 100Ah.
2. The global expansion of household energy storage system is obvious
In the field of household systems, BYD, Pylon Tech, Sungrow, FEB, etc. are accelerating the competition in the global household energy storage market. In the household energy storage track, channels are still one of the key factors. For example, the existing distributors are highly overlapped with the distributors of photovoltaics, and some established inverter/energy companies have accumulated relatively deep channels. Therefore, companies such as Pylon Tech, Huawei, and Sungrow can rise rapidly.
BYD is the hidden champion of the household energy storage track, accelerating product penetration in the household energy storage field. Relevant data show that BYD Energy Storage has completed the installation of 160,000 sets of household energy storage products in 56 countries around the world. In order to cope with the growing demand for household energy storage, BYD continues to increase the size of the household energy storage track. Another global household energy storage company, Pylon Tech, will accelerate the deployment of battery capacity in 2022.
According to public information, the annual production capacity of Pylon Tech cells is 7GWh. And FEB also keeps ordering in the field of household energy storage systems. In the future, FEB will plan high-voltage household energy storage home appliance products to accelerate its entry into the global household energy storage market.
From the perspective of the global market, several industry giants such as Tesla, Pylon Tech, BYD, Huawei, and Sungrow have advantages in their respective regional markets, but brand barriers in the industry have not yet been truly established. Chinese companies are accelerating global penetration. For example, Sofar is also very eye-catching in the field of household storage, and its products are accelerating to go global. In addition, some new companies are also speeding up their household energy storage capacity reserves and sprinting into the global market.
3. Home energy storage inverter manufacturers layout battery into a new trend
In 2022, household energy storage inverters will grow rapidly. Among them, the power conversion system companies such as Sungrow, Deye, GOODWE, etc. have a significant growth rate. From the perspective of product technology evolution, photovoltaic energy storage systems mostly use DC coupling to realize the integrated design of photovoltaics and storage. Especially in new systems, hybrid inverters are easy to install and low in cost.
Generally speaking, DC-coupled hybrid inverter products are the mainstream technology trend, and many Chinese manufacturers have layouts. From the perspective of product high and low voltage trends, most of the hybrid inverter products are within 10KW, the products below 6KW are mostly single-phase low voltage products, and the 5-10KW products are mostly three-phase high voltage products.
Traditionally advantageous manufacturers such as Sungrow, GOODWE, GINLONG, etc. have successively launched high-power products above 15KW. In addition, inverter companies such as Sungrow, Huawei, SOFAR, SINENG, and GOODWE are accelerating the deployment of energy storage batteries, and the integration of battery inverters may become a trend in the future. More and more inverter manufacturers will join the ranks in the future.