US inverter maker Enphase has predicted that battery storage costs and prices will halve by 2020, as it prepares to launch its first product onto the Australian market.
Enphase on Tuesday unveiled its new R&D facility in New Zealand, which will drive further improvements in its battery storage and micro inverter technology, and enable it to refine its home energy management systems – to be launched in Australia and New Zealand within a few months.
The California company is rolling out a modular, “plug and play” batteries storage offering, likely to start at around 1.2kWh, with the ability to be scaled up.
Chief financial officer Kris Sennesael said Enphase is thinking of prices of around $US1,000/kWh, but these were likely to be “fine tuned” by its launch, and prices could fall by half by 2020.
“I can almost see storage prices slashing in half over the next 3-4 years,” he told RenewEconomy in an interview from Christchurch, New Zealand, where the new R&D facility was opened.
“There will be some substantial price reductions as the cost of chemistry comes down significantly in coming years.”
Sennesael says the market opportunity for battery storage is clearly growing. It expects revenue of around $US-$20 million in the second half of 2016 from battery storage, mostly from Australia and New Zealand.
This equates to around 2,000 systems (of 4-5kWh) but by 2020 the company expects global revenue from battery storage of around $US300 million.
“This is a very nascent market. We have to learn a lot about it, and try to understand what the landscape is. But we are more enthusiastic about battery storage than ever before,” he said.
© 2015 Solar Choice Pty Ltd