Siemens are the latest company to be joining the German residential energy storage market with the launch of their Junelight product. It was great to see this sleek new product in the flesh last week in Düsseldorf at the Energy Storage Europe show, however as with sonnen and many others, the sale of hardware is merely a method to enable the provision of energy services. The real value comes in aggregating multiple batteries in Virtual Power Plants and trading energy and accessing grid services. This enables long term income opportunities for the solution providers and long term value to their end uses who can maximise their self-consumption of solar energy. Residential energy storage is an increasingly competitive market so it will be really interesting to see how Siemens get on.
The engineering giant became the latest entrant to Germany’s home battery storage market in late February. At last week’s Energy Storage Europe show, Marlon Hassel, global sales and marketing manager for the product said that rather than targeting big profit margins from selling the product itself, it’s the services and opportunities the company’s Junelight lithium-ion systems are capable of targeting in future that are most interesting to Siemens.