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Get PriceWith this project, 17,000 households throughout Vanuatu will be supported to access non grid, renewable electricity through solar. With low population densities and large distances between communities, a key challenge for the project has been providing access to electricity in a way that is cost effective and efficient.
The project aims to support the use of solar power and battery storage on the islands of Efate and Tanna, boosting Vanuatu’s energy independence and climate resilience. New Zealand’s Deputy Prime Minister and Minister for Foreign Affairs, Winston Peters, confirmed the country’s commitment during a press conference held in Port Vila on Wednesday.
Vanuatu currently has one of the lowest electricity access rates in the world. Under the RESSET project, New Zealand will serve as the lead donor, providing the majority of funding for the installation of solar arrays and battery storage systems on Efate, near Port Vila, and the island of Tanna.
This initiative responds directly to Vanuatu’s national climate goals and energy needs by improving access to clean and reliable electricity. Vanuatu currently has one of the lowest electricity access rates in the world.
The global commercial and industrial solar energy storage battery market is experiencing unprecedented growth, with demand increasing by over 400% in the past three years. Large-scale battery storage solutions now account for approximately 45% of all new commercial solar installations worldwide. North America leads with a 42% market share, driven by corporate sustainability goals and federal investment tax credits that reduce total system costs by 30-35%. Europe follows with a 35% market share, where standardized industrial storage designs have cut installation timelines by 60% compared to custom solutions. Asia-Pacific represents the fastest-growing region at a 50% CAGR, with manufacturing innovations reducing system prices by 20% annually. Emerging markets are adopting commercial storage for peak shaving and energy cost reduction, with typical payback periods of 3-6 years. Modern industrial installations now feature integrated systems with 50kWh to multi-megawatt capacity at costs below $500/kWh for complete energy solutions.
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