Studies reveal booming interest for storage products

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A study by German-based EuPD Research published last week demonstrated that even though nearly half of the Australian solar installers offer storage products, most of the batteries they sell are commercial rather than residential. Moreover, the survey showed that solar energy prosumers mostly buy storage products in combination with a new solar system.

However, according to a research by the Australian institute, these trends might well change soon. The study shows that the interest in owning storage batteries across the population has increased from 49% to 63% over twelve months. Among Australian solar owners, 81% are considering buying batteries for their PV systems.

"In Australia the initial natural market for growth is probably going to be domestic storage," the researchers say in the report. "The Australian Energy Market Operator has predicted that we might see up to 40% of Australian homes install battery storage within twenty years, even without dedicated national policy".

Most of the solar prosumers interested in buying storage want to use it, in order to save money on electricity bills (74%). 39% want to become independent from their energy company; 23% say they want to disconnect from the grid.

More than half of them are ready to invest in storage if the system pays for itself in less than five years. However, 34% of solar owners are ready to wait for more than five years, untill the investment pays for itself in savings on their electricity bills.

Also, as the study shows, 71% of Australians would consider voting for a party that supported distributed small-scale solar and storage. Earlier this month, the Australian Green party has proposed a subsidy scheme, which would provide a refundable tax credit of up to AU$5,000 (US$3,690) for households installing a battery system.

The rapidly growing interest for renewable energy storage integration demonstrated in the research is hardly surprising. Clean energy prosumers around the world are realizing the obvious benefits of storage, especially as the new affordable products appear on the market.

A survey conducted by TNS Emnid reseach group on behalf of a German energy provider E.ON shows that 94% of German energy consumers believe that more storage solution must be integrated in the national solar energy sector.