Overall, the European household storage market is "cooling down" significantly this year. Under this circumstance, YULI pursues new business growth by exploring new markets, and the Southeast Asian market is worth paying attention to.

We found: Extreme weather + preferential policies drive the development of Southeast Asian household energy storage market.

Firstly, climate change affects the supply of electricity.

Extreme weather: it has increased the conflict between electricity generation and consumption in South-East Asia. Global warming, because of the impact of El Niño, has issued challenges to the power supply of Southeast Asian countries.

Power outages: Vietnam, which is dominated by hydroelectric power generation, has also reduced power generation because of dry weather, which cannot support local living and production needs.

Secondly, favorable new energy policies also increase market demand.

People's need for stability in power supply: with the arrival of the era of affordable photovoltaic, further lead Southeast Asia into the "distributed rooftop photovoltaic + household storage" power self-generation and self-consumption development model. Not only that, due to the overall power facilities in Southeast Asia is more fragile, and part of the countries in the form of off-grid & on-grid-based, coupled with more dispersed residents of the islands, roof photovoltaic + household storage put into use to better safeguard the stability of the residents of the power supply.

Policy tendency: some Southeast Asian countries have introduced preferential policies related to the installation of roof photovoltaic, broadening the scope of power trading, to a certain extent, to enlarge the installed demand for household energy storage. Like Rooftop PV incentive in Indonesia: In order to achieve the net-zero goal by 2060, the Indonesian government is taking significant steps to accelerate the energy transition. With an estimated rooftop PV potential of 32.5GW, developing rooftop PV in Indonesia will help maximize the use of green energy.

What are the opportunities for YULI and our partners to enter the Southeast Asian market? At present, the Southeast Asian household storage market has not yet cultivated a monopoly of local enterprises, and under the Belt and Road Initiative, Southeast Asian countries and Chinese enterprises have reached a good mutiple-way cooperation, the local market with the help of Chinese enterprises in the capital, technology, talent and other aspects of the advantages of the market can be deeply tapped into the Southeast Asian household storage market.