A closer look at some record-breaking commercial PV market segments
Today we’re sharing some content from our new Commercial market feature in Luminate. It’s a closer look at some record-breaking commercial PV market segments. So while the residential PV remains challenging, things are more favourable in commercial.MORE PROJECTS REGISTERING LGCS THAN IN PREVIOUS YEARS CUMULATIVE # SOLAR LGC PROJECTS BY YEAR FIRST CREATED LGCS
MORE PROJECTS APPLYING FOR LGCS REGISTRATION TOO
#PROJECTS APPLYING FOR LGCS – MONTHLY – CUMULATIVE BY YEAR
The previous slide showed what’s coming out of the LGC project pipeline; this slide shows what’s going into it. YTD there are 251 solar LGC projects that have applied for accreditation, which is significantly higher than in recent years.
By multiplying this monthly ESS-to-PV ratio with the monthly number of PV systems registered, we can infer the monthly number of battery systems installed. So far this year, approximately 29,000 batteries have been installed. This compares well with H1-2023, during which 17,000 ESS sold (using the same methodology).
– SunWiz
BUT A PROJECTS HELD UP IN CER PROCESSING CUMULATIVE # SOLAR LGC PROJECTS BY YEAR FIRST ACCREDITED
However in 2024 YTD there are far fewer projects that have been accredited by the CER when compared to last year. The reason is likely to be processing hold-ups in the CER – something that affected last year’s figures too.
OVERALL THE LGC MARKET IN A HEALTHY STATE CUMULATIVE # SOLAR LGC PROJECTS BY YEAR FIRST ACCREDITED
Our LGC project tracker (which always takes 12-18 months to fully true-up to its final values, and which hence invariably shows downturns in YTD figures) reveals the market for 101-500kW systems grew from mid 2022 to the end of 2023. In contrast the market for 501-1000kW systems has been practically steady since 2022, and the market for 1MW-5MW peaked at the start of 2023 but has since cooled.
STC MARKET ALSO OFF TO RECORD START – ESPECIALLY 15-30KW
TREND IN STC COMMERCIAL VOLUME REGISTERED BY SEGMENT, LAST 3 YEAR
Driving the record start to the year is ongoing growth in the 15-30kW range. By contrast, other STC commercial size ranges haven’t been growing. That may have changed in May 2024, which saw a substantial uptick in the all STC commercial size ranges.
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