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.
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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.