Consumer preferences for household-level battery energy storage
Scott Agnew and
Renewable and Sustainable Energy Reviews, 2017, vol. 75, issue C, 609-617
This paper examines the role of the consumer in the emerging household-level battery market. We use stated preference data and choice modelling to measure household preferences for battery attributes and functionality. Our survey sample has been sourced from the State of Queensland, Australia, which has some of the highest per capita PV installation rates in the world and has many characteristics of an early-adopter market for battery storage. While cost will be a key determinant for mass market uptake, our study found that drivers encouraging self-sufficiency and grid independence will have a strong influence on battery system preferences. A majority of the 268 respondents to our survey would prefer to buy medium or large battery systems despite higher costs and longer payback periods. Nearly 70% of respondents hope to eventually disconnect from the existing centralized electricity supply network. Should these findings translate more broadly, and battery prices decline as forecast, changing energy market dynamics could result in a range of negative outcomes. Declining infrastructure utilization, asset impairment, rising electricity costs and negative social outcomes could eventuate as consumers attempt to reduce their reliance on existing electricity supply systems. To proactively manage these risks, our study demonstrates the clear need to better understand and address consumer motivations in the impending energy market transition.
Keywords: Battery storage; Solar; Consumer; Choice modelling; Residential (search for similar items in EconPapers)
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