German Home Battery Demand Pushes Storage Above 5 Billion Euros
- Total market growing by about 10% or 500 million euros a year
- Industry scale storage fails to keep pace with home sales
Photographer: Krisztian Bocsi/Bloomberg
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Homeowners tapping cheaper batteries for rooftop solar installations helped Germany’s power storage market break through the 5 billion euro ($5.6 billion) mark for the first time last year.
The market, which includes utility-scale batteries and home units, is growing by 10 percent a year, driven by a sharp decline in technology prices, Germany’s BVES storage federation said Tuesday. Falling module and battery prices are encouraging consumers to cut their power bill by generating their own electricity.