1. Australia added 3.1GW of rooftop solar PV capacity in 2023, fulfilling 14% of electricity consumption.
2. Total rooftop solar capacity in Australia surpassed 20GW in 2023.
3. Record-breaking financial commitments were made into new utility-scale energy storage projects in 2023, with 27 battery projects under construction representing 5GW/11GWh of storage capacity.
Australia saw significant growth in rooftop solar PV capacity in 2023, adding 3.1GW, equivalent to 337,498 households and small businesses. Rooftop solar fulfilled 14% of the country’s electricity consumption in Summer 2022/23. Total rooftop solar capacity surpassed 20GW, with a record-breaking number of financial commitments into new utility-scale energy storage projects, representing 5GW/11GWh of storage capacity.
Construction of 27 battery projects is underway, with the largest being the Waratah Super Battery in New South Wales, receiving a AU$100 million investment from the CEFC. Financial commitments for utility-scale energy storage and hybrid projects reached AU$4.9 billion in 2023, with a significant increase in investment in Q2 primarily driven by the Waratah project.
In contrast, the utility-scale generation market in Australia faced challenges, with limited financial backing for new large-scale generation projects in 2023 compared to the previous year. Despite this, over 56,000 household battery systems were installed in 2023, reflecting the continued growth of energy storage and rooftop solar in the country.
For more information on this topic, visit PV Tech or attend the Energy Storage Summit Australia in Sydney on 21-22 May 2024, hosted by Solar Media. The summit will feature industry leaders discussing ways to accelerate the energy storage market in Australia.