While the solar battery industry has had one of its most successful years, the lag in penetration behind solar panel installation is still at large, proving that while more Australians are finding smart ways to manage their energy – not enough are truly maximising it.
According to the most recent Australian Energy Council Report (November 2021), during the 2020/21 financial year, Australia’s rooftop solar PV industry hit record highs for the number of solar panels installed when compared to the previous financial year.
The report, which is shared quarterly by the Australian Energy Council and analyses activity in the solar PV industry of Australia, reveals how compared to the same period last year, there has been an 11.4 per cent increase in installations, and a 16.5 per cent rise in total capacity. Rooftop solar is also expected to contribute 7 per cent of the energy going into the national electricity grid in 2021.
However, despite the uptake and growth in solar panels, there is still much that can be done to develop a thriving and sustainable energy storage industry that maximises benefits for all parties and continues a dedication to a reputable industry.
Demonstrating the value that the addition of battery storage can bring to solar systems is crucial and will be a big focus for us at LG Energy Solution in 2022. Here are three reasons why we need to get smart about battery storage:
Adding a battery at the time of installation is much more cost-effective.
When clients make the decision to defer battery installation, it ends up becoming a more costly exercise. Rather, by adding battery at the time of installation, it’s a smoother process and also allows for larger solar systems.
Therefore, it’s important for clients to be briefed on the benefit of a full solar system, not just panels, when they’re exploring solar energy options. Beyond a more informed client, a more informed, holistic experience will bring benefits in the long term as clients have a much better, more beneficial experience.
LG Energy Solution also works to make the installation process as smooth as possible, as we pride ourselves on providing the best solution for our clients, and only working certified installers. By installing solar panels and LG Energy Solution batteries at the same time, the process will not only be smoother, but start providing the vital storage capacity that should not go to waste.
Grid integration is important.
Increasingly, Virtual Power Plant (VPP) participation is becoming a part of our national grid network. VPP works by combining the electricity from individual home batteries into one bigger power source that is then coordinated remotely by the VPP provider.
This technology increases the value proposition for batteries - when participating in a VPP, owners can receive income for trading surplus power when grid stability demands cause spikes in spot-prices. In some cases, VPPs also offer a superior solar Feed in Tariffs (FiT) - increasingly relevant as premium solar FiTs become a thing of the past.
LG Energy Solution offers several products that provide grid integration. Whether you’re focused on long duration and energy, or short duration and power, your choice to join the VPP is made easy.
Resilience.
The events of the last few years should be testament enough that having a battery back-up is an absolute requirement.
The devastating bushfires, along with turbulent storms are causing consequences that are sometimes hard to return from. These events, along with a growing cultural desire for independence spurred by COVID-19, makes the case very clear for batteries.
LG Energy Solution batteries have provided countless Australians with the freedom to manage their own energy and maintain resilience in the harshest of weather conditions. Solutions like the RESU Home Package, which offers the new LGES Inverter, are continuing to be installed in homes around the country, giving each new owner valuable peace of mind.
It is vital that when it comes to the energy storage industry, we are smart – approaching each opportunity in a way that maximises value. With battery installations, we can have larger rooftop solar with positive grid interaction, more resilience and essentially, smarter solar for a smarter industry.