Before delving into home energy storage, let's first understand the development history of Energy Storage Systems (ESS):
As early as the 1950s and 60s, the U.S. Department of Energy initiated an energy storage system project, led by Sandia National Laboratories, to research how to store nuclear energy. In the 1970s, due to the severe oil crisis in the United States, Sandia National Laboratories shifted its research focus to renewable energy sources that could replace oil. In the 1980s, the U.S. Department of Energy further expanded Sandia National Laboratories' research project-exploring battery development and testing projects while creating renewable energy. From then on, Sandia National Laboratories undertook the exploration of energy storage projects. However, the energy storage concept at that time was still at the national level and did not involve commercial or residential applications.
In 1991, the project was upgraded to a grid-connected battery energy storage project, and some testing of commercial energy storage facilities also began. During this period, the International Lead-Zinc Organization and power research institutions also participated in the research. By 1996, energy storage systems had reached a considerable scale and began to expand into commercial and residential applications.
Regarding strategic opportunities in home energy storage, Europe and the United States are currently ahead of China. Their demand for residential photovoltaic penetration and power stability is more advanced, which is why the overseas home energy storage market is more mature than that in China. This is also the market that Huanu Power is prioritizing for expansion.