Tesla has big plans for Australian energy storage market
February 18, 2016 | By
Barbara Vergetis Lundin
As households turn to storage to avoid ever increasing electricity tariffs, the Australian energy storage market is on the rise, going from less than 500 installations at the end of 2015 to more than 5,000 systems in 2016.
This is according to IHS Technology and places Australia in
the top five markets for distributed energy storage in 2016,
behind the United States, Japan, Germany and the United Kingdom. The launch of Tesla's Powerwall home battery with a far-reaching marketing campaign has helped unlock consumer demand for grid independence, but many other international battery manufacturers and storage system providers are also moving into the growing residential solar-energy storage market in Australia. "An intense competitive environment is emerging, linked to the rapid growth that this market offers," Boust said. With growth rising, utilities that have long battled solar PV growth are now shifting gears to distribute home-based storage solutions. In recent years, Australian energy retailers Origin Energy, Energy Australia and AGL suffered from flat or shrinking electricity sales, high churn rates and lack of visibility in the regulatory framework in the energy sector; however, solar and energy storage now offers substantial growth opportunities for these companies. "In a bold move, Australian energy retailer AGL just announced it had acquired a minority stake in U.S. storage vendor Sunverge and is now the exclusive channel partner for sales of Sunverge's energy storage systems in Australia," Boust said. For more: © 2016 FierceMarkets, a division of Questex, LLC. All rights reserved. |