Europe is expected to have 32.2 GWh of residential battery energy storage systems across 3.9 million homes by the end of 2026.
This is according to the medium scenario of the European Market Outlook for Residential Battery Storage 2022-2026 report, released in December by SolarPower Europe.
Under the high scenario, over 44 GWh of home batteries are projected by that point in time, while the most pessimistic scenario is for 23.2 GWh of installations. To support the market, the solar association calls for policy action, including setting clear EU and national storage targets for 2030.
Europe’s residential battery sector installed 2.3 GWh in 2021, representing 107% growth from 2020 and bringing cumulative capacity to 5.4 GWh and the total number of operating batteries to over 650,000.
Higher electricity bills and energy security concerns made home storage even more appealing in 2022, when 3.9 GWh of installations are expected under SolarPower Europe’s medium scenario, a 71% rise compared to 2021. The annual home battery market is forecast to reach 7.3 GWh by 2026.
source: Renewables Now