- Australian utility AGL Energy is expected to announce a program to give away 1,000 power storage systems
- As AGL believes that the high cost of storage systems reduces demand, it will offer system at a discount
- Few months back, AGL invested in US based energy storage system maker Sunverge, which is now becoming its exclusive partner
AGL Energy Ltd. will be providing 1,000 power storage systems at reduced prices to Australian homes that have installed rooftop solar panels. The program is expected to be announced in the next few months, reported Bloomberg on May 26, 2016.
In February, Australian utility AGL invested in US based energy storage systems developer Sunverge Energy, Inc. to become its exclusive channel partner for the sales of energy storage systems in Australia. AGL’s CEO Andy Vesey was quoted by Bloomberg as saying that demand for battery technology in his country has been very low but is expected to pick up in the next five years as costs are projected to decrease by 60%.
Vesey said that his company will offer 1,000 residential batteries at a discounted price as they are very expensive right now. He also shared that the AGL battery program will be equivalent of building a 5 MW solar power plant, which can be operated virtually.
In March 2016, some utilities in the country came together to offer off-grid solar power systems to customers affected by devastating bush fires.
Australia is a global leader in small-scale solar capacity, which reached over 4.5 GW by December 1, 2015.