Morgan Stanley bullish on battery storage market in Australia

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“Investment bank Morgan Stanley has painted a bullish outlook for the home battery storage market in Australia, saying it could be worth $24 billion, with half of all households likely to install batteries to store the output from their solar panels.” (Renew Economy). Morgan Stanley writes “Battery adoption should follow solar adoption patterns (literally and figuratively) which, in our view, suggests a market of about 2.4m NEM households. We think there will be strong interest in household solar and battery products, which transfer value away from the incumbent merchant utilities.” Morgan Stanley says “we think Australian incumbents are at risk of losing market share to new entrant disruptors.” The bank estimates that Origin and AGL could see reductions in earnings before interest and tax of up to $100 million in 2020, as consumers choose to store the output from their solar arrays in battery storage.” (VIEW LINK)

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