Australia could become a world leader in home battery storage, with the potential for energy stored from solar panels offering the cheapest electricity alternative within just three years, according to a new report.
The study, by the Climate Council, predicted that the cost of battery storage would fall “dramatically” and help Australian homeowners overcome the intermittency of electricity generation from rooftop solar panels.
On the basis of a $10,000 battery system with a payback of 10 years, the Climate Council predicts that half of all Australian households will adopt battery storage for their solar systems, with capacity growing 50-fold and the market’s value ballooning to $24bn.
The report states that by 2018 the trend could reduce costs of energy as such that getting off-grid will become cost-competitive to staying connected.
Leading manufacturers of home-based battery systems are targeting Australia, where 1.4m households have rooftop solar panels.
Read more from original source: http://www.theguardian.com/environment