Industry research on home energy storage systems

Home energy storage systems, also known as battery storage systems, are based on rechargeable energy storage batteries, typically lithium-ion or lead-acid batteries, that are controlled by a computer to achieve charging and discharging cycles with the assistance of other intelligent hardware and software. To form a home optical storage system, home energy storage systems are frequently combined with distributed photovoltaic power generation. Due to the insecurity of solar and wind energy, as well as the high cost of energy storage systems, the scope of application of home energy storage systems was previously limited. However, as technology advances and costs fall, the market for home energy storage systems becomes increasingly promising.

A home light storage system, on the user side, can eliminate the negative impact of power outages on daily life while lowering electricity bills; on the grid side, home energy storage devices that support unified dispatch can relieve peak-hour electricity consumption tension and provide frequency correction for the grid.

Home energy storage systems will face enormous market opportunities in the future due to the rapid development of renewable energy and cost reduction. According to the Huajing Industry Research Institute, the growth rate of new energy storage in overseas households will remain above 60% from 2021 to 2025, with the total new user-side energy storage capacity overseas approaching 50 GWh by 2025. According to "2022 Home Energy Storage Market Size and Industry Investment Prospects Analysis," the global home energy storage market size in 2020 is $7.5 billion, with China accounting for $1.337 billion. equivalent to RMB 8.651 billion, and is expected to grow to $26.4 billion and $4.6 billion in 2027, respectively.

A more efficient energy storage technology and a more intelligent control system will be used in the future home energy storage system. Renewable energy storage technology, for example, will use more efficient battery technology to improve energy density and lower costs. Simultaneously, intelligent control systems will enable more accurate energy management and forecasting, allowing households to make better use of renewable energy.

Furthermore, government environmental policies will benefit the market for home energy storage systems. More and more countries and regions will take steps to reduce carbon emissions and promote renewable energy development. Home energy storage systems will become a very promising market in this context.

According to CICC, the global home storage theory scale is approximately 1300GWh, but the global home storage installed capacity is only approximately 20GWh as of 2021, with enormous development potential. Home storage economics will improve further as a result of factors such as increasing peak-to-valley spread, falling energy storage costs, and FIT expiration, while the VPP model will bring higher revenues for home storage as it matures. Under the conventional scenario and the accelerated development of VPP, the global installed capacity of home storage is expected to reach 18/35 GWh in 2025, respectively. Click here for 51.2V 100AH Rack-mounted Home Energy Storage System.

Home energy storage systems will play an important role in home energy management by 2023, providing users with efficient, environmentally friendly, and intelligent energy solutions. At the same time, the market for home energy storage systems will welcome more competitors and investors, encouraging technological innovation and further cost reduction. We believe that the future market for home energy storage systems will be more prosperous, bringing people more convenience and hope for long-term development.