Successful manufacturers offer products that meet the needs of the market. The same is true for manufacturers of energy storage systems, as it is for battery wholesalers and retailers.
The solar battery is dynamically growing and reshaping. It pays to understand each market segment, so that investments of time, money and resources are well placed.
While researching the 2023 SunWiz Annual Australian Battery Market Report, some distinct key market sub-segments emerged.Â
- Battery-only sales
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- Solo-ESS: Batteries installed without PV
- ESS-Upgrade: Batteries added to an existing ESS
- ESS-Retrofit-to-PV: Batteries retrofit to an existing & unchanged PV system
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- Solar + Storage Sales
- New ESS+Larger-PV: Batteries retrofit to an existing PV system with capacity added
- New ESS+Replaced-PV: Batteries sold with a new PV system that replaces an existing smaller PV system
- New ESS+New PV: Batteries sold with a new PV system at a site that didn’t previously host a PV system
This is illustrated in the following Venn diagram which shows the numerous intersections between Existing PV (purple), New PV in 2022 (blue), and New Batteries (yellow).Â
Here’s some interesting information about these market sub-segments.
- About 1 in three ESS systems are retrofit to an existing PV system. This is higher in SA & NSW.Â
- 20.5% of PV systems installed in 2022 were done at a site that had an existing PV system. A large number of these occurred concurrently with addition of a battery.
- The typical customer will install a larger battery system when retrofitting to an existing PV system
- The typical customer when buying a solar+storage system buys a smaller battery than if they were retrofitting. However, this does vary by state.
- The typical customer will install a larger PV system when installing a battery, compared to a non-ESS PV installation.Â
An in-depth breakdown of these market segments is covered within the 2023 SunWiz Annual Australian Battery Market Report. View a sample here: https://www.sunwiz.com.au/battery-market-report-australia-2023/