A Total Of 47,100 Home Energy Storage Systems Will Be Deployed in Australia in 2022, A Year-on-year Increase Of 55%

According to a survey report recently released by SunWiz, an Australian solar energy market consulting agency, Australia will deploy 589MWh of residential battery energy storage systems in 2022, an increase of 55% compared to the previous year.

In its latest annual report on the Australian battery storage market, the company noted that about 15% of residential solar installations in Australia will be paired with residential energy storage, up from 10% in 2021.

According to estimates, Australia deployed a total of 47,100 residential battery energy storage systems last year, with a total energy storage capacity of about 589MWh. Australia has installed about 180,000 residential battery energy storage systems since 2015, with a total energy storage capacity of about It is 1920MWh. In a survey report released by SunWiz last year, the total energy storage capacity of residential battery energy storage systems installed in Australia in 2021 was 333MWh.

According to the report, the average energy storage capacity of residential battery energy storage systems deployed in Australia is 12.5kWh. Residential battery energy storage systems deployed in most parts of Australia can realize payback in 10 years or less, and in some states can realize payback in 8 years.

So while there are some key differences in market dynamics between states, such as state-level incentive programs and the way they are structured, SunWiz found that each state and territory in Australia will have a remarkable growth.

In fact, 2022 will see residential energy storage deployment records broken in all states except South Australia, which already leads the country's energy storage market.

Australian residents are environmentally conscious and concerned about climate change, as evidenced by the extensive installation and use of rooftop solar power in many parts of the country over the years. In recent years, however, the economic drivers of deploying energy storage with residential solar power have become too much to ignore for many citizens.

Warwick Johnston, general manager of SunWiz, said the surge in electricity prices from utilities meant that Australian households and businesses were switching to cheaper renewable electricity, while residential solar-plus-storage systems could guarantee savings on energy bills.

Johnston said: "Many Australian residents will increase their energy independence by deploying residential solar systems with battery energy storage systems in 2022 in response to the Russian-Ukrainian conflict, the new crown epidemic, the energy price crisis and the tight power supply caused by climate change. , adaptability and self-reliance.”

The result is a dramatic increase in the number of residential energy storage systems deployed in Australia through 2022.

South Australia, the Australian Capital Territory (ACT) and Victoria are the states with strong incentive and subsidy schemes in Australia, with the highest rates of battery storage for solar installations. Meanwhile, New South Wales remains the state with the most residential battery storage systems deployed, with a cumulative deployment of 55,000 units; followed by Victoria, estimated by compiling and analyzing various data sources, with a cumulative deployment of 44,284 units. Overall, Victoria and New South Wales will each hold 27 per cent of the national market share in 2022, SunWiz found.

However, battery storage has not yet become as mainstream in Australia as residential solar: market penetration for residential battery storage remains low, at 1.6% to 5.3% of the addressable market size. And in some parts of Australia, about a quarter or a third of households use residential solar power.