The sharp rise in electricity prices highlights the economy, and the home energy storage market enters the fast lane

01The surge in electricity prices has swept the world, and the economy of household energy storage equipment is highlighted

Since the middle of 2021, Europe has been experiencing an energy crisis, and the situation has deteriorated step by step. In 2022, with the further outbreak of the Russian-Ukrainian crisis, Russia will significantly reduce its natural gas exports, which will have a huge impact on the European energy market and even the international energy market. As a result, the continental European countries that were heavily dependent on Russian energy were temporarily unable to find alternative energy sources from other sources, resulting in the shutdown of many factories, the closure of enterprises, and the sharp increase in the cost of energy use.

Almost every day the headlines in the British media are about energy: energy shortages, soaring energy prices, and households' electricity consumption has been severely affected. Therefore, European countries have successively introduced policy subsidies in the near future to encourage the development of the home energy storage market. The cost of batteries and the economical reduction of home energy storage equipment have become prominent. The inclination of residents to install energy storage systems has become stronger, and the demand for overseas home energy storage equipment has exploded. The energy storage market has entered a golden growth period. Home energy storage is usually used in conjunction with household photovoltaics, and the installed capacity has ushered in rapid growth. Home energy storage system, also known as battery energy storage system, its core is rechargeable energy storage battery, usually based on lithium ion or lead-acid battery, controlled by computer, and realizes charging and discharging under the coordination of other intelligent hardware and software cycle. The home energy storage system can usually be combined with distributed photovoltaic power generation to form a home solar energy storage system. From the user side, the home solar energy storage system can reduce the electricity bill while eliminating the adverse effects of power outages on normal life; from the grid side, the home energy storage equipment that supports unified dispatching can alleviate the power shortage during peak hours and save energy. The grid provides frequency correction.

02 Home storage products: the trend of higher charging capacity has more room for development and growth

Home energy storage is usually used in conjunction with household photovoltaics, and the installed capacity has ushered in rapid growth. Home energy storage system, also known as battery energy storage system, its core is rechargeable energy storage battery, usually based on lithium ion or lead-acid battery, controlled by computer, and realizes charging and discharging under the coordination of other intelligent hardware and software cycle. The home energy storage system can usually be combined with distributed photovoltaic power generation to form a home solar energy storage system. From the user side, the home solar energy storage system can reduce the electricity bill while eliminating the adverse effects of power outages on normal life; from the grid side, the home energy storage equipment that supports unified dispatching can alleviate the power shortage during peak hours and save energy. The grid provides frequency correction.

The core hardware equipment of the home energy storage system includes batteries and converters. According to the degree of integration of the products, there are mainly two modes: all-in-one machine and split machine. The current market is dominated by split machines, but all-in-one machines are the development trend of the high-end market. , the incremental market space is larger, which is the main driving force for future market growth.

03Market space: Distributed photovoltaic exceeds expectations + energy storage penetration rate is "double beta", it is estimated that the global installed capacity will increase by 58GWh in 2025

At present, the United States, Europe, and Australia are still the main markets for household energy storage. In 2015, the annual installed capacity of global household energy storage was only about 200MW. All have increased significantly. By 2020, the global newly installed capacity will reach 1.2GW, a year-on-year increase of 30%. Europe and the United States are the markets with the greatest growth potential in the world. In terms of shipments, according to IHS Markit statistics, the global new household energy storage shipments in 2020 will be 4.44GWh, a year-on-year increase of 44.2%. Among them, Europe, the United States, Japan and Australia are at the forefront, accounting for 4.4% of global shipments. 3/4. Among the European markets, the German market is developing the most rapidly. Germany’s shipments exceeded 1.1GWh, ranking first in the world. The U.S. shipments also exceeded 1GWh, ranking second. Japan’s shipments in 2020 will be nearly 800MWh. It surpasses other countries and ranks third, and the prospects of the overseas home energy storage market are infinitely favorable.

It is estimated that in 2025, the penetration rate of energy storage in the newly installed photovoltaic market will be 15%, and the penetration rate of energy storage in the stock market will reach 2%.

04Brand heritage + product force double-driven home energy storage industry has formed brand barriers

The key barriers to the home energy storage industry lie in channels and product power. Home energy storage systems are usually used in conjunction with rooftop photovoltaics. The product form is similar to small household appliances and has certain consumer product attributes. Thinking from the perspective of 2C products, channels affect product reach and market coverage. Manufacturers can build overseas channels or cooperate with channels. The sales purpose is achieved by means of deep binding; technical parameters such as product charge, voltage level, coupling method, etc. determine the market positioning of the product. R&D investment and service system construction are the keys to ensuring product strength, and the core responsibility of the energy storage system lies in safety. , long life and low cost.

For this reason, the home energy storage field requires corporate brands with high R&D investment, strong technical reserves, and efficient, convenient, rich and reliable product delivery capabilities. In overseas markets, companies with mature channel layout and product certification More first-mover advantages, good product quality performance, low repair rate, and high safety evaluation of enterprises are important factors affecting consumers' choice. Invisibly, the home energy storage industry has established brand barriers.

05Having insight into household electricity demand, Huabao New Energy has a strong layout of the household energy storage business

The huge space on the demand side has created the prosperity of the market side, and it has also made global companies accelerate the competition in the field of home energy storage. As a benchmark representative of China's overseas brands, Huabao Xinneng makes full use of the "overseas + domestic" and "online + offline" strategy and M2C business model to successfully build a global sales channel; with leading product capabilities , The "Jackery Electric Xiaoer" brand has been sold in China, the United States, Japan, the United Kingdom, Germany, Canada and other countries around the world. The cumulative global sales volume exceeds 2 million units, and the market share of portable energy storage products ranks first. With the advantages of channels, products and brands built through continuous cultivation in the field of portable energy storage, Huabao New Energy has entered the field of home energy storage. Compared with traditional large-capacity home storage products, Huabao Xinneng's mobile home storage products do not need to be installed, and the stored electricity is small but sufficient to solve the basic needs of households. Electricity demand, and the price is significantly lower than that of traditional home storage products, providing a lower cost and feasible home energy storage solution for a wider range of families; Huabao New Energy's mobile home storage products will serve as its pioneers It is a winning player in the storage market, and has accumulated brand advantages for Huabao Xinneng to fully develop the home storage product business.

According to estimates by Northeast Securities, the current global market penetration rate of household energy storage equipment is still less than 5%, and with the acceleration of overseas market demand represented by Europe, the penetration rate of the household storage market is expected to increase by more than ten times in the next two years. Huabao New Energy will also take advantage of the high-boom track of household energy storage to usher in a new high-speed growth point.