The European energy crisis has caused a blowout in the home energy storage market.
Customs statistics show that in the first eight months of 2022, my country’s total exports of lithium-ion energy storage batteries reached US$29.926 billion, a year-on-year increase of 82.97%, which has exceeded all lithium battery exports in 2021.
Home energy storage is a necessary aid for distributed energy systems
The core of the household solar energy storage system is photovoltaic + battery + energy storage inverter.
Home energy storage and home photovoltaics are combined to form a home optical storage system. The optical storage system mainly includes cells, energy storage inverters (bidirectional converters), and component systems.
A typical system is generally 5KW (component + inverter) with 10kWh (energy storage battery) or 10kW+10kWh.
Among them, the battery cell is the core of the energy storage system, accounting for about 45-50% of the cost; the energy storage converter can control charging and discharging, and perform AC-DC conversion, accounting for about 10-15% of the cost; the component system is the photovoltaic system. For solar power generation, the cost accounts for about 20-25%; the installation cost will rise from 10,000 in 2021 to about 20,000, accounting for 15-20%.
Energy storage system cost split
|Component||Capacity||EXW Price||Install Retail Price||Proportion|
|Hybrid Inverter||5Kw||￥6-8K RMB||￥9-15K RMB||13.6%|
|Battery Pack||10Kwh||￥18-20K RMB||￥38-48K RMB||57.6%|
|Component System||5Kw||￥13-14K RMB||￥19-24K RMB||28.8%|
|Total Price||￥66-87K RMB||100%|
Home energy storage system products include all-in-one and split
All-in-one machine: The home-type photovoltaic energy storage and inverter integrated machine is an integrated integrated system with photovoltaic inverter, battery and controller placed inside. easy to use. Generally, there are three working modes: solar energy priority mode, AC (mains) priority mode, and SE priority mode (off-peak power consumption mode).
Split type (inverter + battery system): The household split machine battery is installed separately from the inverter. Users can match the household energy storage inverter according to their own needs, and can also match the switching power supply or inverter as a backup power supply. . Generally, there are four types of hybrid home photovoltaic + energy storage systems, coupled home photovoltaic + energy storage systems, off-grid home photovoltaic + energy storage systems, and photovoltaic energy storage energy management systems.
The biggest opportunity is in the battery
From the cost of household energy storage hardware, the battery pack accounts for nearly 60%, and the cost of only the battery cell accounts for nearly 50%. This is also the basis for the recent rapid expansion of lithium battery production capacity.
There is no battery cell, no battery cell production capacity, and it simply shares the cake of the explosion of the energy storage market. Based on this, Sunwoda, Funeng Technology, and EVE Energy have each invested tens of billions of yuan to expand the production of energy storage batteries.
In addition, since batteries account for nearly 50% of the cost of household energy storage, they naturally control the absolute right to speak in the household energy storage market. As for the production of only batteries, they will directly involve in the manufacture of the overall system of household energy storage, and even launch Private label, all will be changed because of the market.