The Climate Council this week released a report on the potential of battery storage for renewable energy and electric cars. The report revealed that Australia could become the number one market for home battery storage.
Key findings in the report are:
1. Battery storage is expected to grow very quickly and will promote increased uptake of renewable energy and electric cars.
2. Australia is expected to be one of the largest markets for battery storage due to the high cost of electricity, the large number of households with solar panels and Australia’s excellent solar resources.
3. Battery storage can reduce electricity costs for households in several ways.
4. Battery storage technology has the potential to reduce the two biggest contributors to the cost of electricity bills in Australia – network and wholesale energy costs.