Since mid-2021, Europe has been experiencing an energy crisis and the situation is deteriorating step by step, while entering 2022, with the further outbreak of the Russia-Ukraine crisis, Russia has significantly reduced its natural gas exports, causing a

huge impact on the European energy market and even the international energy market. Continental European countries that were heavily dependent on Russian energy have had difficulty finding alternative sources of energy for a while, leading to many factory shutdowns，business closures and steep increases in energy usage costs.

The headlines in the British media almost every day are about energy: energy shortages, soaring energy prices, residential electricity consumption is seriously affected. Therefore, European countries in the recent past have also launched policy subsidies to encourage the promotion of home energy storage market development, battery costs and decline in the economics of home energy storage equipment highlighted, the tendency of residents to install energy storage systems more strongly, the use of overseas home energy storage equipment demand skyrocketed, the energy storage market into the golden growth period. Home energy storage is usually used in conjunction with household photovoltaic, and the installed capacity has seen rapid growth. Home energy storage systems, also known as battery storage systems, are centered on rechargeable energy storage batteries, usually based on lithium-ion or lead-acid batteries, controlled by a computer and coordinated by other intelligent hardware and software to achieve charging and discharging cycles. Home energy storage systems can often be combined with distributed photovoltaic power generation to form a home photovoltaic storage system. From the user side, home optical storage systems can reduce electricity bills while eliminating the adverse effects of power

outages on normal life; from the grid side, home energy storage devices that support unified dispatch can alleviate electricity tensions during peak hours and provide frequency correction for the grid.

The core hardware equipment of home energy storage system includes battery and inverter, according to the degree of product integration, there are mainly two modes of all-in-one machine and split machine, the current market is dominated by split machine, but al-in-one machine is the development trend of high-end market, incremental market space is greater, is the main driver of future market growth.

At present, the United States, Europe, Australia is still the main market of household energy storage, in 2015, the global annual installed capacity of household energy storage is only about 200MW, since 2017 the global installed capacity growth is more obvious, the annual growth of new installed capacity has increased significantly, by 2020 the global installed capacity of 1 .2GW, an increase of 30%. Europe and the United States is the world's most promising growth market. In terms of shipments, according to IHS Mackit statistics, the world's new home energy storage shipments in 2020 will be 4 .44GWh, up !

44. 2% year-on-year, with Europe, the U.S, Japan and Australia leading the way, accounting for 3/4 of global shipments. The United States also ranks second with shipments of more than 1GWh, and Japan ranks third with shipments of nearly 800MWh

in 2020, far surpassing other countries, making the overseas home energy storage market an infinitely positive prospect.

The global market penetration rate of home energy storage devices is still less than 5%, but with the acceleration of overseas market demand represented by Europe, the penetration rate of home energy storage market is expected to increase significantly by more than ten times in the next two years, and EverExceed will also ride on the high boom track of home energy storage to usher in a new high-speed growth point.

If you have any requirements or any kind of query regarding the Energy storage solutions for your desired applications, feel free to communicate with our dedicated team at any time at marketing@everexceed.com.