LG Chem business manager for Australia and Pacific, Jamie Allen, explains how solar and battery storage systems are a sustainable solution to Australia's energy crisis.
Presently, solar energy makes up a small section of Australia’s energy market. However, with the falling costs of Energy Storage Systems (ESS) this sector is destined to grow.
According to the Climate Council, battery storage is expected to grow 50-fold in less than a decade and half of all households are predicted to adopt a solar system with added battery storage, potentially growing the market to $24 billion.
It’s not hard to figure out why Australians are so willing to invest in solar battery storage systems either. We are a nation of sustainable residents with a proven track record of adapting our lifestyles to combat electricity demands and prices.
Solar battery storage solutions have proven to be a long-term cost saving solution, reducing pressure on Australia’s aging grid system. With the country enduring one of its hottest summers on record, reliance on the grid has been at an all-time high.
Residents in South Australia were forced to endure rolling blackouts, while those in parts of New South Wales were on high-alert with possible blackouts predicted. For many, brief power cuts are a slight inconvenience but for others, blackout situations can be devastating and potentially deadly.
With greater uptake in solar and storage solutions predicted, there is potential to reduce pressure on the grid. Consumers are becoming savvier with their energy consumption, but during peak times, they are still crippled by an increased demand on networks (e.g. summer and winter).
Currently ESS users have the option to send energy back to the grid or store it, giving them greater control over how they consume energy with options to also have blackout protection.
Long-term, the results of this could have a double effect, not only easing consumer reliance on the grid but also ease the pressure on energy providers. If ESS users choose to store their energy for personal use, pressure on the grid is reduced significantly.
It enables more effective management by providers and decreases the pressure to constantly load shed, a method used to match demand on the grid, which ultimately helps to prevent grid-related blackouts.
Backup power
In cases of blackout situations, ESS can also serve as an energy backup. For some households and businesses this could prove valuable, while for others it could even be lifesaving.
Australian consumers want peace of mind by having access to a backup power supply.
For businesses, this is vital as time without power can mean loss of business and potentially thousands of lost dollars. High quality ESS are the logical solution to this problem and regardless of weather conditions they will save consumers money in the long run.
ESS enable users to regain control over their electricity costs as well. Ideally, homeowners can benefit from ESS during high consumption months by maximising the use of their PV generated electricity.
Depending on the size of the installed PV system and the user's behaviour, benefits from residential storage systems could see a monthly reduction of up to 80 per cent, significantly lowering costs.
It’s time for consumers, businesses and government to understand the benefits of solar and storage systems as it is not only a renewable option but a lasting sustainable option. As long as the sun is shining consumers are going to be assured energy security.
About the author
Jamie Allen is LG Chem business manager, Australia and Pacific. He has over 10 years experience in the mechanical engineering field and a wealth of experience in renewable energy industries since 2010 focusing on solar and energy storage solutions.
Allen is the first LG Chem representative based in Australia focusing on market development, strategy and assisting with the setup of local operations. He resides in Melbourne with his wife and two children.
Jamie Allen can be contacted at jamieallen@lgchem.com.