Solar panel storage in 50% of Australian homes by 2020
Australia currently has the highest rate of solar panel use in the world. About 1.3 million houses have solar panels which accounts for about 15% of homes. This figure is set to increase significantly over the next 5 years.
A study by the climate council has suggested that by 2020 50% of homes in Australia could be powered by solar panels thanks to advances in the development of batteries that allow storage of solar energy. The current rate of progress means that the cost of batteries should drop dramatically and should coincide with an increase in their capacity.
Storage batteries are available in Australia but until now are uncommon due to their price. Redflow, an Australian company based in Brisbane, use zinc bromide technology for their ZBM batteries and last month announced a reduction in their prices by 50 percent, making their battery a more attractive option in homes with solar panels.
Worldwide battery manufacturers have also begun to market their products in Australia. Tesla who is probably the most well-known manufacturer, announced that its lithium battery – the Powerwall – will be available in Australian homes by the end of 2015. This is set to revolutionise the way that Australia harnesses its energy. Another leading manufacturer, Enphase Energy, founded in California, will introduce their products in the Australian market in 2016. Australian energy company AGL have also announced that they will be introducing a storage device for homes and small business premises.
The large increase in the number of manufacturers producing battery storage means that prices will drop in a market that is becoming highly competitive. Estimates predict that an initial outlay of around £5000 for the battery in Australia should be recouped in about 10 years, leaving houses independent from the grid with no fuel costs. These figures could become even more attractive in the near future.
The transition from fossil fuels to renewable energy is an exciting prospect for Australians who are set to save money and help the environment.