- Sales of batteries to store solar electricity at home could jump by 26 per cent in Germany.
- German households have installed 3.7 million rooftop solar photovoltaic systems that produce power at home.
Sales of batteries to store solar electricity at home could jump by 26 per cent in Germany this year as more households opt for cheaper and renewable energy supplies, industry association Bundesverband Energiespeicher Systeme (BVES) said.
Also, German households have 3.7 million rooftop solar photovoltaic systems installed that produce power at home, data from the National Solar Association BSW showed last month, highlighting that the potential market size is growing.
BVES, presenting an industry-commissioned study undertaken by advisory group 3Energie Consulting(3EC), said, “The trend to self-sufficiency and safeguarding supply is driving the installation of energy storage systems in buildings and private households.”
The consultancy forecasts sales of electricity batteries at 4.8 billion euros ($5.25 billion) in 2024, up from 3.8 billion in 2023, which exceeds 2022’s number by 124 per cent.
Before residential batteries were available to store home-produced energy, electricity from photovoltaic panels went exclusively to the grid. But now, more families, typically in detached homes, are buying batteries as they become cheaper with economies of scale.
Furthermore, BSW put battery ownership at 1.2 million in January 2024, and 3EC said it was possible that 2.0 million would be reached in the full year 2024. Homeowners’ desire to become independent from centralised suppliers also drives sales and the availability of heat pumps and electric cars that can use home-produced electricity.