Great News From Enphase – Batteries 50% Cheaper by 2020
Our partner inverter manufacturer, Enphase, has recently came out with some great news about the cost of solar batteries – they predict that by the year 2020, batteries will have halved in price. This news comes to light as Enphase unveil their new Research and Development factory in New Zealand.
The R&D factory – which will open in a matter of months – will be a key driver in battery storage and micro inverter technology development, as well as the refinement of their home energy management systems. One of the Californian company’s imminent developments is a ‘plug and play’ modular battery storage system, which will be available in sizes starting at 1.2kWh, and which can be scaled up to a larger sized system, as needs determine.
These systems will likely be priced at around one thousand US dollars per kWh initially, says Chief financial officer, Kris Sennesael; however, he hinted that prices would drop dramatically, very quickly. In an interview held in Christchurch, New Zealand, Sennesael suggested that the falling cost of the chemistry involved with producing solar battery storage systems, will cause the prices to plummet to half of the current costs, over the next three or four years.
He also said that the market revenue of solar battery storage systems is expected to peak up to or above $US20 million during the latter half of this year (2016) and this will be heavily driven by the Australian and New Zealand markets. This monetary indicator equates to around 2000 4kWh to 5kWh systems. By 2020, Sennesael is expecting this global revenue price to rise to around $US300 million! He notes that the market for battery storage is still quite young, but is also extremely promising and with enough research and development, the battery storage market is definitely something to become enthusiastic about.
Here at Hush, we are awaiting the arrival of Enphase’s new and innovative modular battery storage system, so we’re just as enthusiastic about the news of a 50% price reduction by 2020. Of course, a price reduction from Enphase equals a price reduction for our customers, so if you’re interested in a solar battery storage system for your home or business, keep checking our Enphase Battery Storage page for updates about when we will be receiving these systems and making them available to you.