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Australia sees record-breaking year for battery installations in 2023

According to a new report from solar and storage market analyst SunWiz, a record number of batteries were installed across Australia in 2023, in homes, businesses and at grid-scale.

According to the 2024 Annual SunWiz Australian Battery Market Report, a record 57,000 battery systems, or energy storage systems, were installed in Australian homes in 2023.

This represented 21 per cent growth on installation levels from the previous year, 2022, and saw a record-setting 656 MWh of residential battery capacity come online.

SunWiz managing director Warwick Johnston said the report demonstrates batteries are reshaping the nations energy supply.

“2023 was the year of the big battery, with deployment levels at twice their previous record. 2024 will be even bigger, with the capacity currently under construction at six times the amount at the same point last year,” said Johnston.

The 656 MWh capacity was increased by a record-breaking level of installations in businesses – 402 MWh, on top of which, grid- scale projects, publicly known as big batteries, totalled a record 1,410MWh of capacity installed.

A record-breaking surge in business installations added 402 MWh to the overall capacity, complemented by grid-scale projects, publically referred to as big batteries, which saw an additional record-breaking 1,410 MWh of capacity installed.
a record total of 2,468 MWh of energy storage capacity was deployed in Australia in 2023. As the typical home uses 20kWh per day, the batteries installed in 2023 were enough to meet the energy needs of 125,000 homes.

The report revealed 254,550 battery storage systems have been installed in homes in Australia from 2015 to 2023 inclusive, totalling 2,770 MWh of residential storage. Added to this is 593 MWh of storage at businesses and 2,603 MWh of storage at grid-scale big batteries over 10MWh. All combined, this is a total of 5,966 MWh of battery storage installed since 2015.

“Home batteries, or home energy storage systems, soak up excess solar energy during the day and allow it to be used in the evening and overnight. This helps households avoid high peak electricity prices and make the most of their solar power,” said Johnston.

“The economic value of batteries is also increasing as the gap widens between what power companies charge for electricity and what they pay for Australian homeowners’ excess solar energy. Batteries also provide security against localised blackouts, which are increasing in frequency due to damaging extreme weather, due to climate change.”

According to the data findings from the report, the ratio of battery installations to solar installations was 17 per cent. Meaning there was one energy storage system installation for every 6 solar system installations.

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