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In terms of battery cell selection, since the system providers of early residential energy storage systems are mostly local companies in Europe, North America, Japan and South Korea, their supporting battery cells are dominated by Japanese and South Korean ternary battery systems such as LG, Panasonic, and Samsung.
Currently, the market for residential energy storage systems is mainly concentrated in Europe, North America, Australia and South Africa.
With the strong entry of Chinese battery manufacturers and the unanimous choice of the technical route of LFP cells, the battery cell matching pattern of residential energy storage systems is being reversed. In 2021, lithium battery shipments for residential energy storage systems in China reach 5.5GWh, a year-on-year increase of 83%.
1) There is little domestic demand for residential energy storage systems in China, and more than 90% of the products are exported. 2) Compared with grid energy storage systems and telecom energy storage systems, there are fewer Chinese companies engaged in lithium batteries for residential energy storage systems.
According to the statistics of battery cell shipments, the shipments of lithium batteries for residential energy storage systems of the top three companies have all exceeded 1GWh. In addition, ATL, EVE Energy, Ruipu Energy and Great Power are mainly selling battery cells.