In today’s blog, we take a look at the latest data surrounding battery storage systems, and explore what the future may look like for this segment of the industry.

The Facts:

Words are great, but what are they without the cold hard facts?

• MCS certified installations of the systems has increased 45 fold since 2022 with the number rising from 269 to 12,319 so far in 2024.
• In total, the number of MCS approved battery storage systems currently sits at 17,553 in the UK.
• The average cost of kit continues to fall, resulting in an increase in profit for installers.

This increase is pretty astonishing, and demonstrates the pace at which new technologies can grow. The above growth demonstrates the adoption of the technology, and the reduction in cost of the systems make them more accessible to consumers and more profitable for installers.

What’s more, the technology is still in the ‘early adopters’ stage, and therefore the market is far less saturated than other technologies within the industry.

How Do the Systems Work?

Battery storage systems work by storing energy and subsequently allow it to be used as and when needed. The technology has a variety of benefits, many of which help to reduce the consumers total household bills. The government has faith in these systems, and believe they are the key in helping achieve their ambitious net zero targets.

Another area we predict will be huge for the systems is ‘dynamic pricing.’ The wholesale cost of electricity fluctuates depending on the time of day in which it is consumed. ‘Dynamic pricing’ then, allows for the purchase of electricity at different rates depending on consumption habits, which correlate with wholesale costs due to supply and demand. The utilisation of a battery storage system means you can store ‘cheap’ electricity, and use it at peak times In doing so, you can offset your energy bills even further. This also means that the systems are not dependent on renewable technology (such as Solar) making them more accessible to a wider market.

Why Should You Get Involved?

I hope that I have already answered this, but let’s summarise the above.

1) The market is rapidly growing.

2) The average cost of kit continues to fall, making the systems more accessible for consumers and more profitable for installers.

3) The technology has been proven to work and the government will continue to invest heavily in its deployment.

4) Market developments such as ‘dynamic pricing’ are likely to catapult the industry even further.

You can access the free MCS Dashboard by clicking below.

About the MCS Data Dashboard – MCS (mcscertified.com)