After an extended period of research, SunWiz has released its much-anticipated Australian Battery Market Report for 2018. As Australia’s leading provider of solar market research, SunWiz’s position of a trusted independent market analyst means top companies trust us and have shared their information and unique insights. This report provides unprecedented transparency into what is otherwise an opaque market.
Some of the key findings of the report are that:
- There were 20,789 energy storage systems installed in 2017, a three-fold increase on the 6750 installed in 2016.
- 12% of the 172,000 PV installations that occurred in 2017 included a battery, up from 5% in 2016
- There are now a cumulative tally of 28,000 battery systems installed in Australia
- Most of the installations occurred in the eastern states. 42% of storage installations in 2017 occurred in NSW; 19% in Queensland and 17% in Victoria. 11% occurred in SA
- 135MWh of projects were installed in 2017, plus 190MWh of distributed systems.
- SA is the best location to install batteries, with PV-storage ROI averaging 13.9% (7.19 years). However the best ROI in SA is 18.2% – a 5.5 year payback
- The Victorian Time of Use Feed-in Tariff (FiT) presents a substantial advantage to customers who take it up. We find:
- The TOU FiT is more valuable than the flat-rate FiT, for PV with or without batteries.
- North-facing still has a better outcome, with or without batteries, whether on TOU or flat-rate FiT.
The report details the inner workings of the Australian energy storage market for 2017, including:
- The numbers and capacity of home energy storage batteries installed in each state in 2017
- Key news items and projects for 2017
- List of key projects for 2017 and those coming in 2018
- Pricing trends and forecasts, plus subsidies available in Australia
- Financial analysis of batteries for every Australian DNSP
- Research on customer purchasing motivations
- Manufacturer public announcements of volume
- Forecasts for 2018 and beyond
You can learn more about the report here.