Germany's home PV storage market seen to grow 42% in 2022
Number of home PV storage systems in Germany. Source: EUPD Research
The German market for home solar storage systems is projected to more than double within two years reaching a total of 220,000 new installations in 2022 amid high electricity prices and government efforts to support solar deployment in the residential sector.
The forecast was made by market intelligence institute EUPD Research in its latest report published on Monday and reflects a further acceleration in the expansion of home storage capacity in Germany. In the spring, the institute projected that the number of new installations in the country would total 200,000 units this year.
EUPD Research expects the upward trend from the first half of 2022 to continue in the course of the year and lead to a 41.9% annual increase in new residential storage systems from the 155,000 installations recorded in 2021. In the first six months of 2022, about 105,000 home storage systems were added across Germany, up 44% year-on-year.
Based on installed home storage systems, Chinese manufacturer BYD is a leader in the German market with a share of 24% in the first half of 2022, followed by German competitors sonnen and SENEC with 21% and 20%, respectively. HagerEnergy GmbH claimed fourth place with its E3/DC brand.
Overall, the four storage solution providers BYD, sonnen, SENEC and E3/DC accounted for around three-quarters of the installations in the German market, both in terms of the number of storage systems and installed storage capacity.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.