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Posted 1 year ago | 2 minute read

Record breaking year for utility-scale batteries in Australia

2023 was the year of the big battery with a record number of utility-scale battery energy storage systems featuring almost 1 GW / 1.5 GWh of combined capacity energised across Australia.

The 2024 annual SunWiz Australian Battery Market report, published on 9 April, shows that grid-scale battery energy storage projects with a record total capacity of 1,410 MWh were installed in Australia last year. The amount of utility-scale battery energy storage capacity energised in 2023 was twice that rolled out in the previous record-setting year of 2021.

But despite the massive year for grid-scale storage, the report also noted that home energy storage systems remain the largest cumulative source of battery capacity in Australia. The cumulative tally for Australian battery installations for 2015-2023 inclusive is 254,550 systems, totalling 2,770 MWh of residential storage. Plus 593 MWh of storage at businesses and 2,603 MWh of storage at sites >10MWh. All combined, this is a total of 5,966 MWh of battery storage installed since 2015.

Source: SunWiz

The ratio of battery installations to solar installations was also up in 2023, climbing to 17% with one energy storage system installed for every six rooftop PV systems, up 15% on 2022.

GridBeyond Asset Development Director Scott Berrie said:

“The Australian energy storage industry experienced transformative growth in 2023. The uptick in utility-scale battery installations is indicative of Australia’s commitment to transitioning towards a renewable energy future. The industry’s rapid development is driven by the increasing need for grid stability and the push for energy independence.

“Looking ahead, market forecasts for the Australian energy storage industry are highly optimistic. Projections suggest that there could be over 5GWh of energy storage deployed by the end of 2024. The burgeoning market for energy storage is attracting substantial investment both domestically and internationally. The market’s potential extends beyond grid-scale projects, as residential and commercial energy storage applications are also on the rise. With continued regulatory support and technological innovation, the industry is likely to maintain its upward trajectory.”

“At GridBeyond we work with our clients to eliminate the complexity from investing in and running a battery energy storage system with our end-to-end solution that encompasses project development, operational optimisation, and long-term maintenance.”

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