Simone Concha, JLL’s Director of Sustainability – Australia, discusses the concept of solar battery storage and what it means for your business. To learn more about the benefits that solar battery storage can bring to your organization, contact JLL’s Alternative Energy Services team.
What is a solar battery?
Solar battery storage is a way of saving the energy generated by solar panels, to be used at a time when the sun is not shining. It’s more significant than you may think: while traditional solar power is considered “variable” – because it is affected by weather, time of day, and other factors – solar battery storage offers a consistent, reliable alternative.
As a result, solar battery storage has the potential to drive down the cost of renewable electricity and increase the uptake of electric cars – both of which are important milestones in the transition to a low carbon economy.
How much does solar battery storage cost?
According to the recently released report by Climate Council, adoption of solar battery storage is expected to grow very quickly, as costs decrease and awareness of the opportunities increases.
Historically, the cost of solar battery storage has decreased by 50% roughly every 7 years. By 2018, having rooftop solar generation with battery storage is expected to be financially equivalent to being connected to the grid.
- 2007 = $1,000/KWh
- 2014 = $410/KWh
- 2020 = $200/KWh
Tesla has tagged Australia as the market with most potential in this area due to the country’s excellent solar resources, high electricity prices, and large residential uptake of solar power.
Battery storage is also expected to promote increased use of electric cars, helping these vehicles to become cost-competitive with conventional cars within 20 years.
Many of the world’s wholesale electricity markets are volatile, with prices soaring from time-to-time when demand is particularly high.
New technologies are being developed to help owners of “solar plus storage” systems sell stored electricity back to the grid at premium rates. Reposit Power is an Australian company who has developed software to do this, which is the first of its kind in the world.
This technology allows businesses and households to participate in the National Energy Market, like a utility. They contribute to peak energy supply by discharging solar electricity stored in their batteries at a time when there is peak demand, enabling them to get paid the high “peak” electricity prices. This benefits the national grid, the system owner and the environment at the same time. This is a win, win, win.
What’s next for solar battery storage?
Solar battery storage enables businesses to change their mind-set about energy from one of commodity, management, and cost reduction to a mind-set of opportunity, innovation and cash flow.
Some new buildings are already incorporating spaces and facilities for recharging electric cars, but are we providing enough for the forecasted growth of the electric car market? Make sure that your building is designed for the future in this regard.
Do you want to be at the mercy of large energy utilities, or would you prefer to take control of your energy and become partially or fully self-sufficient, or sell your solar electricity back to the grid at peak prices?
JLL’s Alternative Energy Services team can help you to evaluate your solar battery storage options. To learn more about the benefits that solar battery storage can bring to your organization, contact me, Matthew Clifford or Kyle Goehring.
Simone Concha is JLL’s Director of Sustainability – Australia. Simone is responsible for coordinating the delivery of sustainability services across all business lines in Australia, and leading the Australian business to meet JLL global corporate sustainability objectives. She is a Member of the Green Building Council of Australia, a Green Star Accredited Professional and a Certified Assessor.