Energy storage systems are changing the way the world consumes energy. Storage systems will dramatically alter the market scenario in the foreseeable future. Energy storage options provide consumers with more flexibility, reliability, and efficiency. They further offer to smoothen the delivery process of various forms of renewable energy like wind, water, and solar power.
A recent study show shat Energy storage installation goes 500 MW to more than 12.8 GW by 2030. By 2030, it is forecast to comprise 7% of global installations and become the third-largest market.
Government policies and schemes for the energy storage sector are expected to boost the energy storage market in the upcoming days. However, the residential energy storage market will face challenges like the lack of domestic battery production and concerns regarding energy storage technology. Some key findings from the study mentioned above are listed below:
- The battery energy storage system (BESS) type is expected to grow significantly.
- New opportunities would be generated by increasing the commercialization of compressed air energy storage (CAES) technology.
- The renewable energy sector would be driven forward by the rising demand for wind and solar energy storage.
- The energy storage market in Australia is moderately fragmented, with the market being dominated by 1-5 major players.
The details about the new residential energy storage solutions arriving in the Australian market are given below.
LG’s New Energy Storage Solutions
LG Energy Solutions has brought in a modularised residential energy storage system that brings higher flexibility to its users. The modular RESU Flex residential battery storage solution comes in various capacities ranging from 8.6 kWh to 17.2 kWh. It is available in a voltage range of 192 V to 531.2 V. It further offers maximum space efficiency with more than 30 installation forms.
The lowest capacity model is perfect for self-consumption. In the highest capacity, one can support a wide range of applications up to a whole home backup. This residential energy storage system can be installed on any surface, whether indoor or outdoor.
The operating temperature encompasses a wide range from -10°C to 50°C. This system also comes with an IP55 protection level. Read more about LG Energy Storage Solutions
AlphaESS New Energy Storage Solutions
Solar energy storage solutions manufacturer Maxeon Solar Technologies sells in Australia under the SunPower Maxeon brand. Maxeon has partnered with China-headquartered energy storage systems specialist AlphaESS to develop residential energy storage systems. This partnership would leverage the expertise of AlphaESS in power conversion and storage solutions and next-generation technology services. This expertise would be combined with Maxeon’s solar panel technology and go-to-market channels to capture the market.
BYD New Energy Storage Solutions
Chinese battery manufacturer BYD is introducing an expanded residential energy storage systems portfolio in the Australian market. It is also introducing a Battery-Max Lite product primarily for the commercial and industrial solar battery market.
This new C&I solar battery system is offered in capacities ranging from 30 kWh to 90 kWh. Up to 64 units can be connected in parallel for a total capacity of 5.76 MWh. This product is also compatible with PV inverters from different manufacturers.
This enables end-users to build the most efficient system with their choice in the inverters. It also comes loaded with open communication and control interfaces.
Pylontech New Energy Storage Solutions
Lithium iron phosphate (LFP) battery manufacturer Pylontech has improved its residential energy storage system range with the new Pelio battery. This battery comes with an energy density of 126 kWh. It has a storage capacity of 5.12 kWh. It is also stackable in a 20-device configuration to reach a capacity of 102.4 kWh.
This residential energy storage system has a depth of discharge of 95% and can operate for over 6,000 cycles. It measures 578 mm x 165 mm x 395 mm and weighs 45 kg. It also offers up to 4kW continuous power performance and up to 10kW peak power performance per module.
This product comes with an IP65 rating. This battery can operate in temperatures ranging from -10°C to 55°C. This battery also protects the installer and user safety with a power connector that achieves an anti-reverse connection physically.
JinkoSolar New Energy Storage Solutions
Chinese solar battery manufacturer JinkoSolar has introduced a new residential energy storage system called JKS-BXXX37-CS. This is a floor-standing outdoor solution that can also be used in off-grid and hybrid setups.
This is a lithium-iron-phosphate battery. It offers a storage capacity of 7.1 kWh to 21.31 kWh. It further comes with a nominal voltage of 192 V to 576 V. Its nominal capacity is 37 Ah.
The modules range from 2 to 6 and the weight from 105 kg to 169 kg. This product also comes with an IP54 protection level. This product is expected to operate for over 6,000 cycles and offers a 10-year guarantee.
Moreover, this battery is compatible with a wide range of inverters. It is expected to be further compatible with more inverters in the upcoming days.
Australian Residential Energy Storage market
The Australian residential energy storage market is currently a hotbed for competing organisations to occupy market share. It can be expected that more companies will develop further innovative solutions shortly to enthrall the consumers.
There is increasing demand among households to shift towards cleaner renewable energy storage solutions. Moreover, there is an impetus from the government to boost this sector. Hence, it may be safe to predict a boom in the supply of similar products, including solar energy storage systems and solar batteries for residential usage.