EuPD Report Shows: BYD Achieved Top Market Share For Residential Storage In Germany
BYD Co. Ltd., one of the world's largest manufacturers of rechargeable batteries, has been ranked as one of the top market share holders for residential storage systems in Germany by EuPD Research. BYD and sonnen had the highest market shares at 19% and 20% and clearly dominated the market for residential energy storage, with BYD representing the most successful Asian brand in the market segment. According to the market analysts the demand for residential energy storage continued to increase in Germany last year. With a total of 206,000 residential batteries installed by the end of the year, the market volume doubled in just two years.
EuPD sees the demand for electric vehicles and household solar combined with rising electricity prices as key drivers of the increasing demand for storage systems. Just as important are the additional solar installations and trend towards self-consumption. A joint installation of solar PV systems with battery storage currently makes up almost 90% of all residential installations in Germany. According to calculations of the market and economic research firm, the number of residential energy storage systems amounted to 65,000 in 2019. This includes new installations as well as retrofitting solar PV systems with energy storage. These numbers show that the German residential battery storage grew by 44 percent in 2019, compared to the numbers of 2018.
Despite a growing number of suppliers in the market, the top positions have been dominated by the same providers over the last few years, reports EuPD. Front runners with a very similar market share of 20 and 19 percent are sonnen and BYD. Three competitors follow with 14 and 12 percent, with the rest of the players holding single digit market shares.
“We are delighted about the high market demand and success of our Battery-Box storage systems”, said Julia Chen, Global Director BYD Battery-Box. “Since the launch of the first generation of our modular Battery-Box series we have gained the trust of both installers and end-customers due to the many thousands of successfully installed and securely running systems in the market as well as due to industry seals, certifications, rankings as the most efficient storage system on the market and market analyses by trusted research firms such as EuPD.”
After the successful launch of the Battery-Box system BYD announced the latest generation of the series “Battery-Box Premium” in December 2019. Just like the award-winning predecessor models, the Battery-Box Premium line is based on BYD's lithium-iron phosphate (LFP) technology for maximum safety, life cycles and power. The new generation meets the toughest industry standard across the world. The new system generation combines all the popular features that made the system a top choice among installers and end-customers with additional system features and helpful tools for installers, based on valuable feedback from partners and clients. The systems is even more flexible and scalable, covering an even wider range of application scenarios while providing an even higher energy density and an even smaller footprint. All models are capable of high-powered emergency-backup and feature both on- and off-grid functionality.
EuPD's market share calculations for residential storage in Germany are based on a number of comprehensive surveys of manufacturers, solar PV installers and residential end consumers, complemented by further in-house research data.