Solar battery storage systems can cost anywhere between $8K and $15K including installation, depending on the battery’s capacity, brand, functionality, and your ability to access Government incentives or rebates.
While this can seem like a high initial outlay, it’s important to consider all the benefits that a solar battery could provide before you make a decision.
With a battery storage system, you can:
- maximise the use of your own solar energy system;
- run more of your appliances off your own energy, day and night;
- be greener and cleaner in your household’s energy use;
- reduce the impact of future electricity price increases on your household running costs; and
- depending on your system setup, have power in a blackout.
Solar battery incentives
To help reduce the upfront cost of your new battery, you could be eligible for a Government subsidy, such as the South Australian Home Battery Scheme.
South Australia’s Home Battery Scheme means lower upfront costs and lower ongoing electricity costs for households who purchase a solar battery.
The Scheme is available for up to 40,000 South Australian households and is designed to reduce the upfront cost of purchasing and installing solar batteries, as well as encourage more South Australians to invest in batteries to help stabilise the energy grid.
With this subsidy, you could save up to $6,000 on the cost of a solar battery.
What is the payback period for battery storage?
The payback period on battery storage is longer than just a solar system alone.
For a newly installed complete solar energy and battery storage system, you could expect a payback of between 5-10 years.
If you’ve already got solar panels and you’re looking at installing a battery as an addition, your payback period will be longer. This is because the work to deliver a short payback period is actually done by your solar panels, not the battery itself. You can, however, still expect all the other benefits that come from battery storage, like extra protection from rising grid electricity costs, making the most of your solar energy, and having power in a blackout.
If you’re not convinced that battery storage is worth the investment right now, it’s still worth ensuring you install a solar energy system that is big enough to support a battery for when you are ready. The cost to go a bit larger on your solar system now to make sure you have enough excess energy to feed a battery can be quite small, and you’ll be making sure adding a battery, later on, is a simple process.
Are solar batteries just for people who want to go off-grid?
No – batteries aren’t just for people who want to go completely off-grid.
There are some great advantages of having battery storage attached to your solar power system, while still being connected to the power grid.
Going off-grid is often not a suitable or financially viable option for most Australian households, as you would need multiple batteries, a back-up generator and complex rewiring. A grid-connected or hybrid solar and battery system is often all you need to take advantage of solar battery storage and save thousands on your electricity bills while helping to stabilise the grid and reduce your household’s carbon footprint.
So, are batteries for solar worth it?
The long term benefits of generating your own solar power and using this 24/7, instead of drawing from the grid, make battery storage well worth the upfront costs.
With a home battery, you can not only start saving even more money on your power costs long-term, but you’ll help to stabilise the energy grid by reducing the load on the grid at peak times.
Your battery will be charged with your free solar-generated power, ready to supply your home with electricity day and night – even in a blackout. Your home energy usage will be cleaner and greener, and you’ll be doing your bit to support a more sustainable energy future.
Ready to invest in battery storage?
Get in touch with our energy experts and receive a free quote for your home today.