News in European Residential Battery Market!

S&P Global’s recent article reveals a surge in residential battery inventories across Europe, offering promising opportunities for homeowners and the energy sector.

Here’s the key takeaways:

Market Shift: Global residential energy storage shipments fell by 2% in Q2 2023, a first in recent history. Europe saw significant declines, with Belgium and Spain down 60% and Italy down 40%. South Africa, however, stands out with a 300% surge.

German Resilience: While many European markets struggled, German suppliers achieved a remarkable 30% increase in shipments.

Inventory Surplus: Europe’s inventory levels reached 5 GWh by the end of 2022, well above the usual 3 GWh. This surplus, combined with lower demand in 2023, will lead to aggressive pricing.

New Entrants: Despite high inventory levels, new Chinese suppliers are entering the European market, potentially exacerbating inventory levels.

US Market: The US market faces balance issues, with quarter-on-quarter declines in residential storage shipments due to high interest rates. However, demand is expected to rebound with NEM 3.0 solar and storage installations in California.

The Future of Residential Energy Storage: Expect growth from retrofitting PV systems and advanced home energy management systems.

Stay tuned for more updates as SPP Development Ukraine leads the way in sustainable energy solutions.

We are eager to hear your thoughts about this.