An increased demand for energy storage solutions is forecast in the coming years, according to a new study by EuPD Research, which reveals the most important reasons why end customers opt for a photovoltaic-system with energy storage.
Noting that previous studies have already identified the purchasing price as the biggest obstacle when buying a storage system, the study: ‘European PV Storage Market Insights 2014’ concludes that self-consumption is the most important purchasing feature for end customers across Europe. Despite differences in the structures of the national markets, the demand for a higher level of autarchy unites European customers, the report adds.
The analysis finds that installers are often hesitant when actively recommending to purchase energy storage with most mentioning both lack of technological maturity of the products and lack of practical experience as the main reasons for their hesitance.
In addition, the relatively low electricity prices in France is the reason the economic added value is lower and leads to little or nearly no interest among end customers. Nevertheless, also in France autarchy is becoming more and more an issue for customers.
This trend can be observed across Europe as self-consumption replaces profitability as the most important factor when buying an energy storage system. This also causes Italian and British installers to include storage solutions in their product portfolio in 2014, EuPD Research concludes.
In times of decreasing funding a heightened demand for energy storage and the desire for more self-consumption can be witnessed in Germany, which is clearly ahead of the other European markets.
Profitability in the commercial segment depends heavily on the energy needs and the specific load profiles of the companies. In comparison, it is easier for residential customers to reach a higher level of autarchy with a storage system. Generally storage systems will be more appealing for the residential market at first, whereas also the commercial segment promises a higher profitability in the near future.
Among other factors, market potentials and price developments play a significant role. Retro-Fit installations will also be as important as new installations. Currently the German and the Italian market are the most promising.
A total installed capacity of 220MWh until the year 2016 is estimated by EuPD.