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Analysts stated that TSLA is the preferred backup battery, while ENPH and SEDG batteries are being used more for load shifting.
“It appears that ENPH and SEDG each comprise market share in the mid-teens vs. TSLA in the low- to-mid 40% range,” they explained. “The data would suggest that TSLA is the preferred battery for backup, as it has the highest average kWh installed while ENPH and SEDG only have 7-10% of their installations with more than 10 kWh.”
Meanwhile, battery attach rates continue to climb, with Sunrun (NASDAQ:RUN) leading. While it is even higher than TSLA, it has the lowest average kWh per installation, according to Barclays.
“According to the December data, RUN’s attach rate is at 74%, the highest in the group, with NOVA as the laggard of the group at ~60%,” analysts explained. “However, it does appear that RUN has the lowest kWh, which likely reflects its marketing of Shift at the start of NEM 3.0, its load-shifting product while the other Tier 1 installers don’t really have a similar product.”
