The European market for residential storage systems continues to grow, with sonnen and LG Chem maintaining a strong position, despite various market entries, according to EuPD Research.
Courtesy of sonnenbatterie Gmbh
Around 50,000 new systems (8.5 GW) were installed in 2017 according to recent analysis from EuPD Research, highlighting the strong position maintained by sonnen and LG Chem. The research also indicates that the European market in 2018 will reach around 10 GW and that the storage industry has benefitted from the increase in new PV systems.
As in 2016, sonnen was the leading supplier of residential storage systems in Germany in 2017, reaching a market share of 21 percent, while LG Chem doubled their market share from 2016 to 20 percent.
“Globally speaking Europe is the by far the biggest storage market” said Philipp Schröder, Managing Director Sales and Marketing at sonnen. “Therefore, we are proud that for the third year running we are the market leader for residential storage systems, and that we were able to maintain our position ahead of renowned competitors such as LG, tesla or Mercedes Benz Energy. This shows that our storage systems and our energy services appeal to end customers in Europe and are a guarantee for success for the installers”.
Wonjoon Suh, Vice President at LG Chem ESS Battery Division, added that LG Chem is also very pleased with their position within the European market, which is the largest residential ESS market in which customers have a high level of expectation for quality ESS systems.
VARTA Storage complements the leading trio, according to the analysis.