BYD is the first energy storage solution provider to receive this seal of approval across the European region in 2023, and was also the most installed system provider by installers

Shenzhen/Berlin, March 27, 2023 – BYD Co. Ltd., one of the world's largest manufacturers of rechargeable batteries, is delighted to receive the recognition as "Top Brand PV Storage Europe 2023" along with "Top Brand PV Storage 2023" country seals for Germany, Austria, Switzerland, Italy, Spain, Portugal, Denmark and Sweden (further countries still in evaluation). The award highlights the best-in-class companies out of the eyes of installers on country and regional level. BYD is the first storage solution provider this year to receive the industry seal of approval for the European region after having been recognised as "Top Brand" for more and more countries. To qualify for the "Europe" seal, the storage provider had to be ranked with a top market distribution within the sample group, high recommendation and brand awareness results in at least 8 European countries. In 2022, BYD was the only storage brand to receive this European Seal.

The Voice of the Installers

For the "PV InstallerMonitor© 2022/2023" survey EUPD interviewed more than 1,600 installers across 10 European countries and Australia. The survey examined factors such as "brand awareness", "distribution (width- and depth)" as well as the installers "recommendation" of the solution.

The results of the first markets shows BYDs strong position in the different factors and markets:

- Distribution (width- and depth): across the region the BYD storage solutions are the ones represented on most of the installers portfolios – with a significant lead. In Germany e.g. BYD is represented in the installer's portfolios by 63%, whereas other brands results are between 19% and 2%. In Spain and Portugal BYD achieved a 58% coverage, in Denmark and Sweden 57%, in Switzerland and Austria 49%, and 45 % in Italy.

- Brand Awareness: BYD is also ranked first in the category of "unaided brand awareness", with more than twice as much awareness than the next following brand (71% in Germany –78% in Switzerland and Austria -- 68% in Spain and Portugal, 76% in Denmark and Sweden, and 61% in Italy)

- Installers recommendation: Among the installers, BYD has the highest total number of promoters. In Germany for example 117 of the surveyed installers recommended BYD (followed by the next brand with 44 promoters).

"Within the last five years, BYD has managed to position itself at the top of the residential storage market, not only in Germany but in most European markets. During EUPD Research's survey with the key market intermediaries – the PV InstallerMonitor© 2022/2023 – BYD was able to impress with outstanding results. We are pleased to be able to accompany BYD on their journey and congratulate the whole team on the Top Brand PV Award 2023 Europe for Storage Solutions," explains Markus A.W. Hoehner, CEO and Founder of EUPD Research.

In addition to the individual brand results, the EUPD PV InstallerMonitor© 2022/2023 shows further interesting market insights. Key insights for the German market e.g. include:

- It shows the trend towards DC, high voltage storage systems- 90% of storage systems are installed with a new PV System, 9% retrofit- 96% of surveyed installers offer storage systems- In Germany, 42 % of the surveyed installers stated that they avoid certain storage manufacturers."Independent market and installers surveys provide very valuable insights for manufacturers like us, as they provide a genuine summary of the opinion the installers and customers have about our solutions and brand. We are therefore delighted about the positive results and the feedback the EUPD market survey provided", explains AD Huang, General Manager of the BYD Battery-Box Business. "What's interesting to us is that the experience of installers has led them to avoid certain brands, and more and more installers have even decided to exclusively offer the BYD Battery-Box. This confirms our approach to provide a modular solutions series that is extremely reliable and versatile, can be used in a wide variety of application scenarios and thereby fulfills the storage solutions requirements of many installers."

More details and graphics based on the EUPD research results can be found here: https://www.eupd-research.com/wp-content/uploads/Long_Pitch_Deck_PV_InstallerMonitor_2022_2023_BYD.pdf