Microinverter supplier Enphase Energy posted strong Q4 2021 results last week that saw strong revenue growth, following high demand for its IQ microinverters and a 53% jump in orders of its IQ batteries compared with Q3 2021, despite supply chain constraints.
Tesla said that it more than doubled production volumes of grid-scale energy storage solution Megapack in the third quarter of 2020 as the company continues to ramp up production to “match unprecedented demand across the globe”.
Europe’s residential battery energy storage systems (BESS) market is expected to continue its upward trajectory in the coming years after 745MWh of additional capacity was installed in 2019, representing a 57% increase year-on-year.
While energy storage is still a small part of their respective businesses overall, recent quarterly financial reports from US-based geothermal company Ormat and standby generator maker Generac emphasised expectations of market growth going forwards.
Trina BESS, the battery energy storage company originally launched alongside Chinese PV giant Trina Solar but now run as an entity in its own right, sold 1,000 residential units in the first half of this year.