South Africa’s battery energy storage system (BESS) market is entering a more mature phase with growth continuing at a slower and more measured pace after a period of rapid expansion.
This is according to market intelligence firm SunWiz, which indicates in its January report that the sector is stabilising after the sharp uptake over the past two years.
SunWiz MD Warwick Johnston says installer productivity and activity levels continued to increase towards the end of last year although the rate of acceleration has eased.
“This suggests a transition towards more predictable, sustained growth,” Johnston told Energize.
The report notes that photovoltaic system and BESS prices declined by roughly a third between August 2023 and August 2024 but have since levelled off. Johnston says this stabilisation points to a period of pricing equilibrium following earlier cost reductions.
According to SunWiz, demand for storage systems has remained resilient despite broader economic pressures with continued growth in installer activity across the market.
The data suggests the sector is shifting away from rapid, demand-driven expansion towards a more stable phase with implications for pricing dynamics, installer activity and investment decisions across the storage value chain.
SunWiz also identified the five leading battery manufacturers by installation volume in January, reflecting ongoing competition within a maturing market.
