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Due to time constraints, this article does a brief analysis of the UK household storage market, followed by an update.
We have been to the United Kingdom many times, winter and daylight saving time are experienced, the overall feeling of the United Kingdom in a year of cold weather is more cloudy, often precipitation, compared to the dry sunny weather in southern European countries is far worse.
Therefore, intuitively the UK should not be at the forefront of household PV (and I do understand that many UK households only have batteries + inverters, not PV, which is unique). France is close to the UK, but France just feels a lot sunnier, and it doesn't install much rooftop PV.
However, the wind speed in the UK should not be small, and recently a British start-up company invented small wind turbines to be used with household PV storage systems, which is quite interesting and may start a trend in the UK.
In 2022, the top 4 installed capacity of household storage in Europe, if I remember correctly is Germany, Spain, the United Kingdom, Italy. It is simply unexpected that the UK will have such a fierce demand for household storage in 2022.
Cumulative household PV installations in the UK as of mid-2023 are above 1.3 million units. The UK has a population of around 67 million, totalling 23.4 million households by government figures. The UK's detached rate is the highest in Europe, estimated to be over 80%. 1.3 million units / (23.4 million households * 80%) = 6.94%, a household PV figure that is slightly higher than the eyeballed figure, but also largely reasonable.
The UK household energy storage has only begun to emerge on a large scale in the past two years, so the attachment rate is not high, calculated at 20%, there are 260,000 units. 260,000 units / (23.4 million households * 80%) = 1.39%. Basically in line with the first-line feedback, indicating that the UK household storage is currently in the early stages, the space is vast.
More than 85% of the installed capacity in the UK is below 4KW single-phase products, 10% is 4-12KW. 5-10 degrees of electricity. The main reason:
Firstly, different certification standards and grid connection approval standards apply above and below 3.6K; Secondly, the UK installer storage economy is poor and there is no demand for power backup, therefore, all tend to install a smaller power and capacity configuration.
Starting in the middle of 2021, the UK electricity prices rose sharply, should be considered the highest in the European region, which is why the UK installed household storage significantly, France did not move the main reason.
From Q1 2023, UK electricity prices fall sharply, accompanied by a decline in demand. When talking about household storage in the UK, it is common to hear about Economy 7, a power buying package that provides 7 hours of cheap electricity at night, encouraging demand to shift to off-peak hours.
UK GDP per capita 46,500 US dollars, purchasing power and France (43,700 US dollars) is about the same. Lower than Germany ($51,200), the Netherlands ($57,800), higher than Spain ($30,100), Italy ($35,700), Poland ($18,000).
The installed power and capacity of household storage in the UK in point 3 of the previous article, and the purchasing power of the UK in the absence of strong subsidies in point 6 of the latter article, which is stronger than that of the southern European countries, have a very close logical relationship with the level of purchasing power of the population in the UK in this entry.
The strength of the UK's policy is very general. The impression is that there is no VAT exemption for photovoltaic panels and no FiTs after 2019. Previously, I heard that Scotland has a 50% subsidy for household storage, and the rest of the world does not, I do not know what the latest situation is. Therefore, the UK is highly marketised, and the payback period is basically the longest in Europe.
Players, Givenergy is the king of the UK market, followed by a separate introduction; Secondly, domestic players are Aero (2022H1: 0.85bn), Guruwatts (2022: 451m), Huawei, Jinlang, Crestec (I heard that the all-in-one machine sells very well) and so on. International vendors include Solax Power, Enphase, SMA and others.
Segen is the UK's largest supplier of residential solar PV and energy storage systems.
In 2022, a whole year is full of high energy. Many manufacturers can not care about the EU to care about the United Kingdom, the supply chain can not keep up, 6 months even a cable can not be delivered, to focus on the United Kingdom, the supply chain is sufficient to give manufacturers the opportunity.
Some manufacturers made mad money, with gross margins of 50 per cent or more. This year, demand is down, 23H1 shipments are basically cut, the formation of inventory backlog. (Customs data on China's exports to the UK has been put into the household storage file, need to please scan the QR code below.)
The good thing is that the UK market is not a lazy type of policy dependence, unlike Southern Europe, demand is still very large, and it is expected to alleviate the inventory problem in Q3.
