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Welcome to our European Market Outlook for Residential Battery Storage 2022-2026. With an unprecedented energy crisis in Europe driving skyrocketing electricity costs, citizens are increasingly looking at home solar power generation as a key tool to gain control of their energy bills.
Over the course of 2022, the remarkable threshold of 1 million homes with solar & storage has been surpassed. Positive market conditions and supportive frameworks expected in more European countries in the mid-term will increase the continent’s annual home battery market most likely to 7.3 GWh by 2026.
By 2026, the European home storage market could be as large as 11.3 GWh, according to our High Scenario, while the unlikely Low Scenario foresees a market size of 4.5 GWh, about twice as large as in 2021.
We expect Germany, Italy, Austria and the UK. Together, they the top 4 markets to remain the same in 2022 and 2023 installed 1.9 GWh of residential storage battery as well, with the UK reclaiming the #3 position. capacity, representing 84% of the 2.3 GWh that Looking further to 2026, the annual market will grow Europe installed in 2021.
Overall, the financial support for solar & storage systems could cover up to 45% of the total investment costs. In addition to the federal years taken into account. support scheme, there have been also regional incentives available for both small-scale solar PV and attached storage systems.
However, although still the country currently providing the vast majority of the total European annually installed capacity, with a 59% share, its predominance is decreasing, down 9% absolute compared to the previous year. The annual installed capacity in Germany in 2021 is higher than the whole European home storage market in 2020.