Since February 2022, with the outbreak of the Russian-Ukrainian conflict, the EU has adopted a very tough stance and multiple rounds of sanctions against Russia, which has led to the deterioration of the relationship between the EU and Russia, which has seriously affected the trade between the EU and Russia, which also Including natural gas from Russia to Europe. In the global home energy storage market, the installed capacity of Germany, the United States, Japan and Australia far exceeds that of other countries. In terms of shipments, Europe, the United States, Japan, and Australia are at the forefront. According to CICC data, in 2020, the global installed capacity of home energy storage is 4.5GWh, of which Germany, the United States, Japan, and Australia are the top four installed capacity markets, accounting for 25%, 23%, 18%, and 9% of the installed capacity respectively. The main countries developing home energy storage include the United States, Germany, and Australia. Demand for self-generated renewable energy and energy storage in overseas countries is surging due to rising electricity prices. Among them, the European market is developing rapidly. One of the reasons for this is the Russian-Ukrainian war.

  As a result, there is a shortage of energy in Europe, and there is an urgent need to develop clean energy to ensure energy supply. In June, the gas transmission volume was only 40% of the same period of previous years, and in July, it dropped sharply to 20% of the same period of previous years. Insufficient natural gas supply has led to a significant decline in natural gas power generation in Europe. What's more serious is that Europe has suffered from extreme heat and drought this year, which is a once-in-a- century. Rivers have dried up, reservoirs are short of water, and generation has plummeted. Nuclear power generation, which requires water for cooling, has also dropped significantly. Under the superposition of multiple factors, there has been a serious "power shortage" in Europe, with insufficient power supply and skyrocketing electricity prices. By the end of August, compared with the same period last year, electricity prices in France have risen by about 13 times, and electricity prices in Germany have also risen by more than 11 times, causing serious inflation. Power shortages and skyrocketing electricity prices, as well as government subsidies, have led to the explosive growth of home solar power systems and energy storage lithium ion battery in Europe. 
  Looking at the European market, Germany is the best in terms of home solar power systems and energy storage lithium ion battery. The reason is related to the skyrocketing electricity price in Germany and Germany's good new energy foundation. According to data from the Financial Associated Press on August 16, the base load electricity price delivered in Germany a few days ago rose by 13.3%, reaching a new high of 555 euros/MWh. Secondly, due to the relatively good development of the new energy industry in Germany, the infrastructure of home solar energy supporting facilities is also very complete. According to EUDP Research, a German market research institute, 85% of home energy storage lithium ion battery in Germany will be deployed in conjunction with newly built home solar power generation facilities, while 15% of home energy storage systems will be deployed in conjunction with operating home solar power generation facilities. In 2020, its renewable energy power generation will account for nearly 50%, and the relative application demand of energy storage lithium ion battery is also relatively large. At the same time, European countries have introduced a series of favorable policies to promote energy transition. Take Germany as an example. According to Reuters, Germany has advanced its 100% renewable energy power generation target from 2050 to 2035. The Easter Package Easter Package aims to achieve 80% renewable energy power generation by 2030.

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