Australia’s heavy reliance on imported fossil fuels has left households and businesses dangerously exposed to global energy shocks, with the current conflict involving the US and Iran costing motorists more than AU$1 billion (US$710 million) in March alone.

US analysis firm GTM Research has published the latest commentary to highlight significant potential in Australia for energy storage, driven by the success of its PV industry.

Energy storage is likely to be a near future “game changer” for Australia and could make the country the world leader in solar-plus-storage, a new report claims.