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Household energy storage has broad development space
Nov 03, 2022
Household photovoltaic energy storage has entered the era of parity, and its economy is gradually emerging, which is an important driving factor for the development of the industry. With the progress of lithium-ion battery technology and the rapid development of the electric vehicle industry, the overall scale of the lithium battery industry chain continues to expand.
From 2018 to 2021, the average price of LFP energy storage system in the United States will drop from $320/kWh to $225/kWh, a drop of 30%. Among them, the energy storage battery module decreased from $224/kWh to $145/kWh, a decrease of 35%. The decrease in the cost of PV energy storage and the rise in energy prices have made Germany a benchmark country for household energy storage. In Germany, in 2021, the levelized kilowatt hour cost of photovoltaic will be 10.1 euro cents/kWh, and the levelized kilowatt hour cost of photovoltaic energy storage will be 14.7 euro cents/kWh, compared with 31.9 euro cents/kWh. The difference between the retail electricity price of residents and the cost of PV energy storage per kilowatt hour has expanded, and the emerging economy of energy storage has promoted Germany to surpass Japan as the world's largest household energy storage market in 2020.
The lack of elasticity of the power grid and the urgent demand of residents for stable electricity are the second driving force for the rapid development of household energy storage. In the United States, Japan, Australia and other countries, disasters occur frequently, power grid equipment is old, and residents are very worried about the elasticity of the power grid, which has promoted the installation of household energy storage systems.
According to the estimation of the US Department of Energy in 2014, the service life of nearly 70% of transmission lines and transformers in the US has exceeded 25 years, approaching the upper limit of the service life of equipment. At the same time, under the market background of pursuing efficiency, the investment in power infrastructure and system reliability is insufficient, and the reliability of residential electricity is facing challenges.
Household storage system can bring power supply reliability to residents in some extreme cases, which is helpful to improve residents' acceptance of household optical storage system. In February 2021, after a large-scale power outage occurred in Texas, US, affected by a snowstorm, the search heat of PV modules in the local area and even in the US has soared, indicating that more and more residents are considering installing household optical storage systems to deal with possible large-scale power outages.
From 2018 to 2021, the average price of LFP energy storage system in the United States will drop from $320/kWh to $225/kWh, a drop of 30%. Among them, the energy storage battery module decreased from $224/kWh to $145/kWh, a decrease of 35%. The decrease in the cost of PV energy storage and the rise in energy prices have made Germany a benchmark country for household energy storage. In Germany, in 2021, the levelized kilowatt hour cost of photovoltaic will be 10.1 euro cents/kWh, and the levelized kilowatt hour cost of photovoltaic energy storage will be 14.7 euro cents/kWh, compared with 31.9 euro cents/kWh. The difference between the retail electricity price of residents and the cost of PV energy storage per kilowatt hour has expanded, and the emerging economy of energy storage has promoted Germany to surpass Japan as the world's largest household energy storage market in 2020.
The lack of elasticity of the power grid and the urgent demand of residents for stable electricity are the second driving force for the rapid development of household energy storage. In the United States, Japan, Australia and other countries, disasters occur frequently, power grid equipment is old, and residents are very worried about the elasticity of the power grid, which has promoted the installation of household energy storage systems.
According to the estimation of the US Department of Energy in 2014, the service life of nearly 70% of transmission lines and transformers in the US has exceeded 25 years, approaching the upper limit of the service life of equipment. At the same time, under the market background of pursuing efficiency, the investment in power infrastructure and system reliability is insufficient, and the reliability of residential electricity is facing challenges.
Household storage system can bring power supply reliability to residents in some extreme cases, which is helpful to improve residents' acceptance of household optical storage system. In February 2021, after a large-scale power outage occurred in Texas, US, affected by a snowstorm, the search heat of PV modules in the local area and even in the US has soared, indicating that more and more residents are considering installing household optical storage systems to deal with possible large-scale power outages.
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