What is the reason for the popularity of household energy storage battery

The deep reason for the popularity of household energy storage mainly comes from the demand side.

On the one hand, electricity prices in Europe have risen significantly, and the conflict between Russia and Ukraine has exacerbated the European energy crisis.European energy prices have exceeded 200 euros/MWh, and European natural gas prices have increased more than 8 times since 2020.

The low cost of optical storage has enabled European and American consumers to recover their investment costs within almost 3-5 years. Since 2021, household energy storage has shown explosive growth in the European and American markets at an annual growth rate of double.

In 2021, the 27 countries of the European Union will add 25.9GW of photovoltaic grid-connected, which will provide good conditions for household energy storage.

The current typical use scenario of household energy storage is to form a household optical storage system with household photovoltaic.According to estimates, compared with the non-equipped photovoltaic and energy storage systems, the ten-year savings in electricity bills of 12,673.64 euros for photovoltaic and energy storage equipment, and the payback period is 5 years; while the installation of only photovoltaic systems saves only 4,816.87 euros in electricity bills, and the PHOTOVOLTAIC+energy storage solution is highly economical.