How will battery storage technology influence the Australian residential solar photovoltaic market?
The Energy Consumers Australia has released a report prepared by KPMG economic regulation team assessing the residential solar PV market in Australia and the outlook for future developments, particularly how battery storage might influence the solar PV market.
Over the last decade there has been a rapid increase in the number of households installing solar PV systems on their rooftop. Approximately 1.5 million households now have solar panels and are generating their own electricity. Our report found that customers are generally satisfied with the performance of their solar PV system and the market is preforming well.
With the removal of premium feed in tariffs, future uptake of solar PV is likely to be linked to the attractiveness of battery storage plus whether current barriers facing rental properties and apartments are addressed. The combination of battery storage and solar will provide customers with greater flexibility, consistent with a desire by many customers to become less dependent on traditional energy companies. However, it will also increase the complexity of the decisions that they face. Energy storage systems are both technically and economically more complex than solar, suggesting customers need access to better information and tools to inform their decisions.