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Date:25/06/2023
Australia is expected to become the world's largest user-side storage market, accounting for 30% of global demand, as home storage demand triples.
BNEF published a short on Tuesday, underlining the main headline of its latest report, which is a tripling of user-side inventories in Australia, despite the high cost. According to Bloomberg, Australian state governments are gradually falling behind user-side energy storage, which in turn has made Australia one of the most attractive markets in the world.
More than just installed capacity, growing demand is convincing industry leaders to invest in setting up assembly plants. Not surprisingly, given its recent headline status as a sprawling Tesla battery home, South Australia has attracted DC GROUP, Alphaess and Eguana Technologies to set up local assembly facilities.
More than 70,000 homes in Australia are expected to install batteries this year, thanks in large part to the provision of A $147 million state government subsidy as well as low-interest loans and demand response programs that have helped motivate and spark interest.
