European Market for Residential PV Storage Systems is Growing

Market Trends

The European market for residential PV storage systems grew by 57 percent in 2019. The total newly installed capacity for storage systems was 745 megawatt hours. According to SolarPower Europe’s European Market Outlook for Residential Battery Storage, residential storage systems in combination with private photovoltaic installations had a total capacity of almost 2 gigawatt hours at the end of 2019. Despite this strong growth, the market potential is far from exhausted. SolarPower Europe reports that only seven percent of private photovoltaic installations are already coupled with a battery storage system, which means that there is a huge additional market potential.

The country with the greatest newly installed capacity in 2019 was Germany, with 500 megawatt hours. According to the study, the German market share is 66 percent (496 MWh), followed by Italy (89 MWh), the UK (38 MWh), Austria (37 MWh) and Switzerland (20 MWh). Last year, these five countries accounted for more than 90 percent of growth in the European market for residential storage systems.

In view of the vast potential, SolarPower Europe is expecting additional strong market growth. In spite of the Covid-19 pandemic, the market showed very positive development this year, with an expected 810 MW of newly installed residential storage capacity. The forecast for 2021 is even more optimistic, with deployment expected to speed up considerably.