BOOM!
That’s the sound of the battery market right now.
(if you read everything below, its also the sound your business will make)
As you’ll witness below, the battery market is expanding rapidly. Its booming!
Indeed, we’ve reached that point where battery installations outnumber PV installations.
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The chart above shows the ESS attachment rate (actually the ratio of ESS-to-PV systems). In May, preliminary data shows there were 1.4 battery systems sold for every PV system. That’s massive!
In recent years, annual rooftop solar installations have declined in number, been consistent in capacity (kW), but revenue has declined considerably. People’s interest in batteries may also boost flagging PV sales, providing a shot in the arm for panel manufacturers.
But, according to our initial data, the battery boom won’t uplift panel manufacturer volumes, at least not yet. As the chart below reveals, retrofit-batteries are growing faster than PV+ESS systems, as solar owners take advantage of the rebate. Retailers are focussing on battery sales, because that’s that’s what’s causing the phones to ring, and because batteries generate more profit than panels.
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Speaking of rapidly expanding, SunWiz’s battery market insights are about to go boom too.
SunWiz has long-been the only provider of monthly updates on battery market: volumes & attachment rates, leading brands, popular sizes, and prices.
Now we’re retrofitting our content with extra views, more data, and enhanced accuracy.