In 2020, 1.7 billion external power supplies (EPS) were in use in the EU27, of which 75% for residential use, on average 6.5 units per EU household. They converted 48 TWh/a of electricity from the 220V mains to the input needed by the powered products.
The European Power Exchange EPEX SPOT operates the organised wholesale market for power trading across 13 European countries. 718 TWh have been traded on EPEX SPOT in 2023 – more than one-third of the yearly European electricity consumption.
In 2020, due to Ecodesign measures, EU27 users saved € 0.9 billion on external power supplies. This is projected to increase to € 1.3 billion in 2030, a 16% saving. In 2030, the annual household expenses for EPS are projected to decrease from € 33 (without measures) to € 28.
The European Daily Electricity Markets report supplies market participants with in-depth coverage of Europe’s power sector. The coverage includes independent price assessments, indices, analysis on the latest market developments, fundamentals data and daily news stories. This entry was posted on October 13, 2023.
The global residential solar storage and inverter market is experiencing rapid expansion, with demand increasing by over 300% in the past three years. Home energy storage solutions now account for approximately 35% of all new residential solar installations worldwide. North America leads with 38% market share, driven by homeowner energy independence goals and federal tax credits that reduce total system costs by 26-30%. Europe follows with 32% market share, where standardized home storage designs have cut installation timelines by 55% compared to custom solutions. Asia-Pacific represents the fastest-growing region at 45% CAGR, with manufacturing innovations reducing system prices by 18% annually. Emerging markets are adopting residential storage for backup power and energy cost reduction, with typical payback periods of 4-7 years. Modern home installations now feature integrated systems with 10-30kWh capacity at costs below $700/kWh for complete residential energy solutions.
Technological advancements are dramatically improving home solar storage and inverter performance while reducing costs. Next-generation battery management systems maintain optimal performance with 40% less energy loss, extending battery lifespan to 15+ years. Standardized plug-and-play designs have reduced installation costs from $1,200/kW to $650/kW since 2022. Smart integration features now allow home systems to operate as virtual power plants, increasing homeowner savings by 35% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 25% for solar storage installations. New modular designs enable capacity expansion through simple battery additions at just $600/kWh for incremental storage. These innovations have improved ROI significantly, with residential projects typically achieving payback in 5-8 years depending on local electricity rates and incentive programs. Recent pricing trends show standard home systems (5-10kWh) starting at $8,000 and premium systems (15-20kWh) from $12,000, with financing options available for homeowners.