Solar Battery Storage allows homeowners to do many things, such as:
- Store solar energy produced during the day and use it at night
- Provide your home with backup power in case of a grid outage
- Manage time of use tariffs (TOU) to buy energy at cheap off-peak rates
- Enjoy a premium rate for the surplus energy you sell back to the grid
While it is possible for many homeowners to completely disconnect from the grid, we advise against doing so. If you were to be completely off-grid, you would not only require additional components which can prove rather expensive, but you’d also find yourself without backup power if one of the components fails. The existing grid is actually a very cost-effective means of meeting your household’s peak power demands, plus you may also be able to take advantage of the premium rates that retailers frequently offer if you’re able to sell power back to the grid at peak times.
Optimise Your Solar Power
There’s a huge gap between what homeowners pay for energy and what they receive when they sell the excess solar energy produced during the day back to the grid. With the arrival of energy storage systems, homeowners will be empowered to store the excess energy they produce and use it at peak times when energy costs are at their highest. This increase in solar energy self-consumption significantly improves the returns of investing in a solar power system.
Slash Energy Costs with Peak Shaving
Energy providers’ time of use tariffs charge a premium for energy used during peak times while charging lower rates at off-peak times. With an investment in a home energy storage system, homeowners will be able to slash their energy costs by purchasing and storing energy when it’s cheap and using that power at peak times when they would otherwise be charged a premium.
Backup Power Delivered
Energy storage systems can deliver backup power in the absence of grid energy so that essential loads, such as fridges, lights and medical equipment, can still run in the event of an outage. This is ideal for households in remote areas or areas in which power outages are commonplace.
Energy Storage System Types
There are three main types of home storage systems – AC Coupled, DC Coupled and Hybrid. While retrofitting is possible and each offers benefits and drawbacks, we encourage those purchasing a new system to opt for a hybrid inverter, for direct battery connection now or in the future. Speak to one of our consultants to decide which system best meets your needs.
Battery Storage – The Financial Benefits
At the present point in time, home battery systems are still not as cost-effective an investment as solar power, solar hot water and other available technologies. Therefore, it’s unlikely that you will be able to recuperate the financial outlay involved in a practical timeframe or before the warranty period expires.
A battery storage system capable of storing 6 kWh of excess solar production over the course of the day only delivers savings of around $400 annually. And that’s provided every battery is used to capacity on a daily basis, which is quite unlikely, plus there’s the reduction in storage capacity to take into account which occurs quicker in batteries than it does in solar panels.
What’s more, it’s also a sizeable investment – it adds $8000-$10,000 to the cost of a new solar power system or $9000-$11,000 to retrofit into your home. Given the minimal savings, the reduction in storage capacity and the sizeable outlay involved, a home battery system simply isn’t a savvy investment, at least not at the moment, though having said that, prices are dropping rapidly.
Some home battery systems enable you to sell stored energy to the grid during peak times, which could see you enjoying premium rates. However, you need to produce more energy than you consume in order to do this, which may mean you need to power down your home appliances.