2019 is looking like a good year for renewable energy in Australia as solar energy and solar battery storage looks set to BOOM.
Bloomberg has predicted Australia will make up 30% of the global solar demand in 2019. It also forecasts that household solar battery storage demand in Aus will TRIPLE this year, cementing us as a world leader in renewable energy.
The report by Bloomberg, released at the end of January, praised the efforts of Australia’s State governments in aiding this renewable boom. Because of the support, Australia has become an attractive market for solar manufacturers around the world. South Australia has already made partnerships with Sonnen GmBH, AlphaESS and Equana Technologies. This means that the solar storage possibilities will be extensive for residential consumers in 2019.
BNEF predicts an astounding 70,000 Aussie homes will have batteries installed this year. This is driven by the $147 million that has been pledged by state government subsidies, on top of low-interest loans and demand response schemes. Also, opposition leader Bill Shorten has pledged an additional $140.9m in battery rebates. This will only be achieved if the Labour Government wins the next election. If successful, solar battery storage will be even easier for homeowners to achieve.
Even after the policy support ends, BNEF predicts Australia will remain an attractive market for residential solar battery storage. This is thanks to the already high penetration of household solar (one in 5). Also ever-increasing electricity costs.
This good news comes as temperatures continue to soar in Australia. All eyes have been on the Australian Energy Market Operator as they manage peak power demands. The push towards renewable energy and installing a solar battery storage solution continues as homeowners are wanting more energy independence.
If you are tired of increasing electricity prices, and want to explore your options, feel free to contact Nickel Energy. We have extensive solar system and solar battery storage options to help you wrestle back control off your energy providers.
For the full Bloomberg report, please click here.