In 2017, BYD initiated the “Cool the Earth by 1°C” campaign. Founder Wang Chuanfu embraced the challenge with hope. "I might not live to see the Earth cool down," he said, "but I hope our children and future generations will."
This vision ignited a relentless drive at BYD. By 2023, the company had sold over three million electric vehicles (EVs) and installed more than one million residential energy storage systems (ESS) worldwide.
While BYD's EVs often take center stage, its energy storage division quietly but steadily powers the company's green vision. But how did BYD achieve the remarkable milestone of one million residential ESS installations?
Pioneering New Frontiers Abroad
On June 19, 2024, the bustling halls of Munich's Intersolar Europe exhibition buzzed with excitement.
This year, BYD had something special to celebrate. The company marked the installation of one million BatteryBox units globally with a grand event, offering giveaways like BatteryBox HVM systems, modules, battery control units (BCUs), and European Cup Finals tickets, etc. as a gesture of appreciation to customers and partners. It was a testament to BYD’s energy storage expertise and its growing global influence.
"To know someone, walk a mile in their shoes." This proverb resonates deeply with BYD’s approach in international markets. The company’s ability to craft such thoughtful events is rooted in a profound understanding of local markets and customs.
Solarbe noted that BYD has been navigating the international market for 13 years, starting with the export of containerized energy storage products to the U.S. in 2011.
Thirteen years back, as BYD ventured beyond borders, China’s energy storage market was still in its infancy. BYD strategically focused on international markets, particularly in the key regions of the United States and Europe, where their efforts truly shone.
BYD was among the first Chinese firms to enter the U.S. energy storage market, reaching a peak market share of over 60%.
In the UK market, BYD also emerged as an early player, securing a remarkable 80% market share at its peak.
By the end of 2023, BYD's bold expansion efforts had borne fruit. Its energy storage business spanned 107 countries and regions, over 400 cities, and reached a global shipment of 40.4 GWh.
In 2024, BYD’s performance earned it a place on BloombergNEF Energy Storage Tier 1 List for two consecutive quarters.
Research by Electrend placed BYD’s residential energy storage solutions among Europe’s top ten.
Navigating the highly regulated U.S. and European markets, known for their high entry barriers and rigorous technical and testing requirements., BYD maintained a focus on technological excellence to deliver reliable products.
On one hand, BYD worked diligently to surpass the standards, concentrating on breakthroughs in battery and energy storage technologies. They embraced the highest safety protocols across electrical and battery safety, energy management, and transportation. Their innovative smart control chips provide four layers of safety protection and six levels of high-precision sensing.
This strategy mirrored the German saying, "Wer nicht neugierig ist, erfährt nichts" (He who is not curious learns nothing). BYD set clear goals and took decisive actions, becoming one of the first Chinese firms to receive TÜV Rheinland certification in Germany, with its BatteryBox series HVS/HVM/LVS meeting the highest global standards, including VDE-AR-E 2510-50.
On the other hand, BYD conducted in-depth research into the residential storage market, accurately identifying consumer and partner concerns to create highly marketable products. For instance, the BatteryBox Premium series helps users manage electricity efficiently and save costs. Additionally, the Be Partner program allows installers and partners to actively engage, offering optimal solutions to customers.
EUPD Research data shows BYD led the German residential market in 2021 with a 24% share. Germany, Europe’s largest residential energy storage market, accounts for over half of the continent's installations. In 2024, EUPD Research announced the results of the "TOP Brand PV Award 2024," with BYD receiving the honor in Belgium, Germany, Italy, Poland, Spain, Austria, the United Kingdom, and Europe as a whole. Additionally, BYD is the most recommended brand by installers in both Europe and Australia.
These efforts have not only solidified BYD’s presence internationally but also propelled its growth.
However, in the face of competition from its Chinese counterparts, how will BYD rise to the challenge?
Fortifying the Pillars of Quality
American animator and director John Lasseter once said, "Quality is the best business plan."
BYD embraces this philosophy, viewing product quality as its cornerstone amid market shifts and competition.
Take BYD's residential energy storage products, for instance. Driven by a quality-first strategy, they boast four key strengths: safety, flexibility, applicability, and reliability.
High safety is ensured through robust cell and design features. The products employ a five-layer safety protection mechanism, which includes measures at the cell, electrical, and structural levels, as well as active and emergency safeguards. This approach not only extends product lifespan but also guarantees user safety. Premium HVS and Premium HVM products operate in temperatures ranging from -10°C to 50°C, meeting diverse environmental needs.
High flexibility is evident in the ease of installation and expansion. BYD’s systems are plug-and-play internally, requiring no communication or power cables between modules, facilitating quick and simple setup.
These products are compatible with inverters from brands like Fronius, KOSTAL, SMA, and KACO, expanding their application for single-phase, three-phase, grid-tied, off-grid, and backup power scenarios.
High reliability is seen in BYD’s commitment to lifecycle services and market feedback. Using LFP batteries, BYD’s products are safer and more environmentally friendly than traditional batteries. The company also offers comprehensive battery recycling services to ensure responsible disposal.
BYD residential energy storage products have reached over 90 countries, maintaining a nine-year tradition of delivering high-quality products and service.
In 2023, BYD surpassed the one million installation mark. BYD BatteryBox has maintained top positions among "the Most Efficient Energy Storage Systems" by HTW Berlin for seven consecutive years, underscoring its outstanding innovation capabilities and leading technical strength.
For BYD, every transaction marks the beginning of a friendship, with its four product advantages ensuring enduring bonds with users.
The strength of BYD extends beyond residential products, with its overall business showing sustained growth momentum.
Innovation as a Competitive Edge
BYD’s continuous innovation has been key to its sustained growth.
Only through constant innovation in products and services can BYD better meet consumer needs.
From pioneering research into LFP batteries in 2002 to the establishment of the Power Research Institute in 2008, BYD has laid the groundwork for energy storage technology. This commitment to innovation has propelled BYD's advancement from zero to one in the energy storage sector.
Following this, BYD innovated its way to remarkable success in global markets, marking a journey from inception to prominence.
In 2009, BYD developed the world’s first iron battery portable storage cabinet, pioneering distributed and mobile energy storage.
In 2012, BYD completed a 500kWh containerized energy storage project, passing rigorous inspections by Duke Energy in the U.S.
In 2015, BYD’s "High-Capacity Battery Storage System R&D Demonstration Project for Nuclear Power Plant Emergencies" passed China’s National Energy Administration inspection.
In 2023, BYD launched two new energy storage products: the BYD MC Cube and the MC-I one-stop commercial and industrial ESS, enriching its product line and fueling growth.
Beyond the expertise in energy storage products and projects, Yin Xiaoqiang, General Manager of BYD Energy Storage and New Battery Division, highlighted BYD's extensive in-house capabilities. Apart from battery cells, the company also develops BMS, chips, air conditioning, and more. With this robust vertical integration, BYD gains a competitive edge in cost management.
As competition in the energy storage sector intensifies, BYD’s market performance shows resilience against external influences.
Early in 2024, BYD Energy Storage secured a significant order, partnering with Spain’s Grenergy for the Oasis de Atacama ESS in Chile.
This project, the largest of its kind, follows BYD’s major breakthrough supplying storage equipment to South Africa’s Kenhardt power station.
On April 11, 2024, at the 12th Energy Storage International Conference and Expo (ESIE), BYD Energy Storage unveiled MC Cube-T, the next-generation MC Cube, with a capacity of 6.432MWh, leading the industry.
BYD’s ability to continually secure orders and launch new products is rooted in continuous innovation.
As Steve Jobs said, "Innovation distinguishes between a leader and a follower."
For BYD Energy Storage, continuous innovation has unlocked the milestone of one million installations and embodies the company’s commitment to cooling the Earth by 1°C, offering the potential to lead the industry.
At this new milestone, BYD Energy Storage is set to journey towards a cleaner and more sustainable future.
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