Australian Energy Storage Market Analysis
Australian Energy Storage Market Analysis, September 2018
The numbers are in and they are impressive, with an estimated 32,500 on-grid and off-grid energy storage systems installed in Australia up to the end of 2016, and a further 20,000 energy storage systems installed in 2017. But it’s the tip of the iceberg: a high growth scenario puts energy storage systems at 450,000 by 2020, with the combination of residential and commercial energy storage delivering 3 GWh of distributed storage. And it’s a jobs bonanza, up to 35,000 Australians could be working in the energy storage industry by 2020.
These are the findings of the Smart Energy Council’s comprehensive analysis of the Australian Energy Storage Market covering residential, commercial, large-scale, on-grid, off-grid and micro-grid energy storage, and projections for uptake from 2017 to 2020.
The report identifies 55 existing, planned or proposed large-scale energy storage projects in Australia, that (excluding pumped hydro) represent over 4 GWh of storage.
In addition 120 large-scale solar projects totaling 9 GW of capacity have been completed, planned or are in the pipeline. Of those, 19 have been completed and another 36 have reached financial close. Most of those projects have the capacity to add storage and represent an opportunity additional to the 4 GWh identified above.
Report findings were based on a survey by the Smart Energy Council, interviews with key energy storage market participants, data from the Clean Energy Regulator and the Smart Energy Council’s Battery Finder project.
This analysis and report has been funded by the Australian Renewable Energy Agency (ARENA).