The European market for residential storage systems is continuously growing. Where around 31.500 systems were sold in 2016, the market reached 50.000 new installed systems in 2017. A current analysis from EuPD Research shows that despite various market entries, sonnen and LG Chem were able to maintain their strong positions ahead of VARTA Storage.
Bonn. The positive development of the European photovoltaic market continues and has an immediate effect on the progress of the storage industry. After merely 7 GW in 2016 around 8,5 GW of new systems were installed in 2017. A current prognosis from EuPD Research estimates the market in 2018 will reach around 10 GW. In 2017 the segment below 10 kWp, which is relevant for residential storage systems, increased by 31% as compared to 2016 and covered around 2,8 GW.
The storage industry benefitted from the rise in new photovoltaic systems as, based on an analysis of sales numbers by market- and economic research institute EuPD Research, around 50.000 new storage systems were installed in 2017. In comparison to 2016 this results in an increase of around 60%. Germany still plays the dominant role within this development. In 2017 around 37.000 new systems were installed in Germany. Italy (10%) and the UK (6%) follow by a great margin.
Apart from the market size, EuPD Research also determined the market shares of the individual manufacturers. The basis for this analysis is extensive research, evaluations of installer- and end customer surveys, as well as a survey amongst all suppliers of storage systems in Europe. In total, the companies’ information and estimations suggest that in 2017 around 59.000 residential storage systems were installed in Europe. It is assumed that around 15% of all systems are still either in warehouses or somewhere in the purchasing process, either with the wholesaler, the installer or other intermediaries. Therefore, the 59.000 systems based on the manufacturers’ information, which is the point of reference for the market analysis, and the assumed 15% in stock roughly equal the 50.000 systems estimated for 2017.
As in the previous year, sonnen asserted itself once again as the leading supplier of residential storage systems in Germany and, based on the calculations of EuPD Researched, reached a market share of 21% in 2017. LG Chem, on the other hand, was able to double their market share from 2016 to 20%. Every tenth system installed in 2017 came from VARTA Storage, who are ranked third in Europe. The leading trio is followed by three other German suppliers: E3/DC, Senec and Solarwatt.
The European market leader sonnen comments on their leading position as follows: “Globally speaking Europe is the by far the biggest storage market. Therefore, we are proud that for the third year running we are the market leader for residential storage systems, and that we were able to maintain our position ahead of renowned competitors such as LG, tesla or Mercedes Benz Energy. This shows that our storage systems and our energy services appeal to end customers in Europe and are a guarantee for success for the installers”, Philipp Schröder, Managing Director Sales and Marketing at sonnen.
LG Chem, too, is pleased with the strong position within the European storage market. “Europe is the world’s largest residential ESS market in which its customers have a high level of expectation for their residential ESS products’ qualities. I’m very pleased to share that LG Chem has achieved great success in the European market – a result showing that LG Chem’s residential ESS product, RESU, is being well-acknowledged for its high performances and qualities. LG Chem will do its best to increase the customer satisfaction through developing residential ESS products which best suit various needs of our customers,” says Wonjoon Suh, Vice President at LG Chem ESS Battery Division.
VARTA Storage complement the leading trio. “We are very pleased about the independent confirmation”, says Gordon Clements, General Manager Residential Power & Energy at VARTA Storage GmbH. „The demand for our storage systems is constantly growing. Our systems are characterized by safety and the ability to communicate with various smart-home applications regardless of the supplier”.
