Report finds a significant surge in Australian battery capacity in 2023

The combined tally of battery capacity deployed in Australia in 2023 reached a significant 2,468 MWh, setting a new benchmark in the country's energy storage sector.

Battery storage outdoor

According to a new report by solar and storage market analyst SunWiz, 2023 witnessed a significant increase in battery installations across the nation.

The 2024 Annual SunWiz Australian Battery Market Report reveals that a remarkable 57,000 battery systems found their way into Australian homes, marking a notable 21% increase from the previous year. This surge in residential installations translated into a record-setting 656 MWh of battery capacity coming online.

Businesses also made significant progress in adopting battery technology, with installations totaling 402 MWh in 2023. Meanwhile, grid-scale projects, known as big batteries, contributed to the momentum with a significant 1,410 MWh of capacity installed throughout the year.

Warwick Johnston, Managing Director of SunWiz, highlighted the transformative impact of batteries on the energy supply landscape.

“2023 was the year of the big battery, with deployment levels at twice their previous record," Mr Johnston said.

"2024 will be even bigger, with the capacity currently under construction at six times the amount at the same point last year.”

The report highlights the vital role of batteries in reshaping the energy dynamics of Australia, offering economic benefits to homeowners while also bolstering grid stability and facilitating the integration of renewable energy sources.

"Home batteries are democratizing energy storage in the same way that solar power democratized electricity production," Johnston said.

"To generate and store electricity, you no longer need a coal mine or hydropower dam in your backyard, you just need solar panels and a battery. Nor do you need an oil well or petrol station to power your car - a growing number of electric vehicle owners fuel their cars with solar energy, and are looking forward to the day their car can also help power their homes.”

Since 2015, Australia has witnessed a steady rise in battery installations, with over 250,000 home battery systems and 2,770 MWh of capacity installed. Additionally, businesses have embraced battery technology, contributing 593 MWh of storage capacity, while grid-scale projects have added 2,603 MWh to the national grid.

To read more about the 2024 Annual SunWiz Australian Battery Market Report, go to the SunWiz website here.

Energy Industry Partners


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