1. The first chart shows the levels of awareness about each battery brand. Tesla and LG Chem are clearly the most recognised brands.
2. The second chart shows installers perceptions of Quality, Support, and Value. The chart illustrates Bosch leading on Quality, followed by LG Chem and Enphase. The company that provided the best support was Enhpase, followed by LGchem. The battery that provided best value was LG Chem.
Since the survey was conducted, a lot has changed – companies such as BYD and Tesla have brought new products to the market, service levels have improved, and prices have fallen.
We’ve also seen new strategies adopted as companies seek to increase their market share. Already there are a wide variety of approaches that are being tested, which can be summarised as:
- Product Approaches: Battery that are compatible with many inverters (e.g. LGchem, Tesla PowerWall1) versus those that combine battery and inverter together (e.g. Sonnen, Enphase, Tesla PowerWall2)
- Channel Approaches: Traditional sales through wholesalers & major retailers (LGchem), versus those that sell direct to small retailers (Alpha-ESS) versus those that sell direct to end-customer (Tesla)
- Service Offerings: batteries are already moving from commodity to a service – e.g. Sonnen’s Flat. Like Sonnen, products such as Redback Technologies can also control loads to optimise self-consumption and battery utilisation.
Meanwhile many retailers are carefully balancing the benefits of being associated with Tesla’s X-factor with the drawbacks of dictated prices with narrow margins and limited supplies.
- sales conversion rates and what drives sales
- proportions of installations that are
- AC/DC coupled;
- Perceptions of battery brand quality, support, and value for money
- The value to customers in a range of factors including:
- Blackout protection
- Maximising self-consumption through load shifting
- Managing peak demand
- Good monitoring app
- Cycle life warranty
- Chemistry (Safeness)
- High Power discharge
- DC vs AC Coupled
- 1-phase vs 3 phase
The Australian energy storage market is in its infancy, and yet remains incredibly opaque. But by collating the collective wisdom of the hundreds of businesses that are selling batteries, we can accelerate the rollout of energy storage across Australia and the world.
Please take part in the research for our mid-year battery market update. Battery retailers are invited to take part in this survey: https://www.surveymonk