As 2017 ticks over into its second month, Australian solar and battery installers are predicting a “very, very exciting year” as the home energy storage market shifts from early adopter, to “early majority”.
Driving this shift is the sensational downward price trajectory of home battery systems, which in little more than a year has seen them go from an “emotional investment” to an economic no-brainer.
This price drop, while mostly driven by economies of scale in manufacturing – which have, in turn, been buoyed by ripe markets like Australia with high electricity prices, abundant solar rooftops and disappearing solar bonus schemes – has also been boosted by a healthy rivalry between market leaders like LG Chem and Tesla.
Tesla, whose Powerwall 2 battery is reportedly due to hit Australian shores in a matter of weeks, and almost certainly in the first quarter of 2017 according to one industry source, has been a major pace setter on pricing, having essentially doubled he capacity of its home battery offering, while halving its price per kilowatt-hour, and reducing its physical size by one-third – all in less than 12 months.
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