Tesla's Powerwall to push massive change within the energy storage market. At the end of April, Tesla revealed the Solar Battery Storage concept, which has caused commercial and residential customers to re-think their energy use and their energy business models. Tesla Believes that battery storage solar systems are the most effective way to get the most from a solar power system. The solar battery storage systems work through the solar inverter supplying the house with power from solar panels and the solar charge controller charges the battery. During this time, installation is not taking any power from the grid. In the evening, when there is little/no sun, the inverter supplies the home with power from the batteries. What this means for the consumer and conventional energy providers is that the combination of rooftop solar and lithium-ion battery storage is cheaper than the grid.
According to Deutsche bank, the Tesla pricing translates into delivered energy cost with the solar array and battery storage at approximately high teens or low 20s c/KWH, and with Australia’s excellent solar resource, and huge penetration of rooftop solar finds itself at the cutting edge of this revolution. The Australian Energy Market operator predicts that New South Wales, Victoria and Queensland will lead the country in the adoption of battery storage by households and businesses over the next two decades and will put huge pressure on energy networks to adapt their business models and the way they operate the grid.
Source:
RenewEconomy 8 May 2015, “Tesla says battery storage already makes economic sense for Australia consumers”, accessed 27 July 2015.
ABC 22 May 2015, "Powerwall: Solar energy storage batteries 'set to transform Australian electricity industry", accessed 27 July 2015.