Hello everyone, today I wanted to delve into some fascinating developments within the solar industry, specifically around battery energy storage systems, or BESS for short. Tesla is making a statement as it has recently toppled Sungrow as the lead producer in the BESS integrator market, sporting a commanding 15% global market share in 2023!
Solar companies specializing in BESS dive into the crucial work of procuring, manufacturing, integrating hardware and software, and supplying these intricate energy storage systems. Each system is customized depending on contract details, client necessities, and available resources in the market. The role that these companies play in propelling the solar industry forward can’t be overstressed.
What’s especially captivating is the upswing in market concentration in North America, driven largely by Tesla with an impressive 60% increase in market share year over year. It’s enthralling to see household names like Tesla continue to innovate and dominate in the BESS market, creating opportunities for homeowners to adopt solar panels for their homes and experience the benefits and convenience of solar power.
Now, while Tesla might be making strong headway in North America and Europe, it’s China’s entrance into the global stage that’s truly shaken things up. Six of the “global top 10 vendors” for BESS are now China-based. This is partly attributed to China’s BESS market being exclusively supplied by domestic companies. In fact, China installed the most BESS globally in 2023.
What does this mean for you as someone considering a solar array for home use? The solar company market is becoming increasingly diverse, with more domestic and international companies entering the fray. Greater competition often translates to improved products and services for consumers. This also indicates that the industry is expanding, offering more choices for homeowners considering integrating solar power into their homes.
Additionally, it’s worth noting that the commercial and industrial integration of microgrids (i.e., localized grids that can operate independently of traditional grids) is on the rise, nearly doubling in 2023. This provides framework and foundation for a future where every home can be a microgrid, improving grid resilience and operational efficiency.
Stay tuned for more updates as I keep a keen eye on the exciting development of this dynamic solar industry. There’s never been a better time to start thinking about solar panels for your home – the future of energy is shining brightly indeed!
Original Articlehttps://pv-magazine-usa.com/2024/08/09/tesla-usurps-sungrow-as-lead-bess-producer-globally-in-2023/
