Australia is forecast to more than double its energy storage capacity this year and achieve a staggering 12.9 GWh of cumulative storage deployments over the next five years despite a few hiccups along the way, according to U.S.-owned analyst Wood Mackenzie. For the first time, front-of-the-meter installations are forecast to overtake behind-the-meter capacity.
According to the new research, Australia is set to add 1.2 GWh of energy storage capacity in 2020, more than double the 499 MWh installed in 2019. This will take the country’s cumulative storage capacity to 2.7 GWh this year.
Last year, the battery storage sector in Australia started to gain momentum. According to the Clean Energy Council, 2019 was a watershed year for home and grid-scale batteries, with the more than 22,000 small-scale batteries installed taking Australia’s household storage capacity past 1 GWh for the first time. At the end of the year, 15 large-scale batteries were under construction.
With ARENA's funding set to dry up in mid 2020, despite the need to address new challenges in grid integration, storage and reliability, storage developers are “pressed to seek private equity to cover 10%-50% of initial project investments”. CMX works with developers, financiers and battery manufacturers to facilitate the development of utility scale storage opportunities.
According to the new research, Australia is set to add 1.2 GWh of energy storage capacity in 2020, more than double the 499 MWh installed in 2019. This will take the country’s cumulative storage capacity to 2.7 GWh this year.
Last year, the battery storage sector in Australia started to gain momentum. According to the Clean Energy Council, 2019 was a watershed year for home and grid-scale batteries, with the more than 22,000 small-scale batteries installed taking Australia’s household storage capacity past 1 GWh for the first time. At the end of the year, 15 large-scale batteries were under construction.
With ARENA's funding set to dry up in mid 2020, despite the need to address new challenges in grid integration, storage and reliability, storage developers are “pressed to seek private equity to cover 10%-50% of initial project investments”. CMX works with developers, financiers and battery manufacturers to facilitate the development of utility scale storage opportunities.