US giant Tesla has put up the price of its Powerwall home battery system as the globe continues to struggle with soaring lithium prices and battery materials shortages.
As of March 25, a Tesla Powerwall will now set Australian customers back an extra $950, with prices rising from $12,750 to $13,700.
The Powerwall system today is significantly more expensive than it was when it launched in 2017 costing just $9,600.
This isn’t the first time Tesla has changed its Powerwall system prices, having bounced between the $12,000 to $13,300 mark since 2018, though it’s worth noting the recent price hike takes it to its most expensive price point yet.
Nevertheless, Tesla remains Australia’s most popular battery brand.
Storage system pricing
Maintaining its penchant for dashing all hopes and forecasts, Australia’s storage market – and indeed the world’s – looks like it will only continue to increase in terms of pricing.
In March, business data company IHS Markit has predicted lithium-ion battery prices will not fall until 2024, thanks to rising metal prices, soaring demand for electric vehicles (EVs), and China’s near monopoly on the industry.
Analyst Wood Mackenzie is slightly more optimistic, predicting the heaving demand for batteries and wanting supply of materials will begin to ease by next year.
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