Should I Invest in Batteries?

At e-Solar, we have been watching the solar energy market change and grow for over 30 years, so whilst the development of solar battery technology is exciting in many regards, the process is not something we haven’t seen before. Batteries are no doubt something that will become part and parcel of the energy market for homes, businesses and infrastructure, however, there are a few things to watch out for as new technology arrives.

Firstly: Cost

Adding batteries to a residential solar system at the moment can be costly and is basically the equivalent of doubling the cost, therefore doubling the payback period. This can initially put off a lot of customers, especially once they are informed of how the cost over the next few years is likely to drop further. Additionally, we recommend that customers install their solar system package first and see what can be saved before they invest the same again in batteries.

If your energy costs come down from $500 to $100 you may believe that the original goal has been achieved.

Secondly: Tariffs

As it has been stated, feed-in tariffs are set to change. At the current rate, the tariff stands at 7c per kWh. If that number were to rise and customers could see a financial benefit of feeding energy back into the grid then battery systems would become less necessary.

There are many reasons people choose to get batteries, whether it is to become wholly off-grid or to save even more on their energy costs.

But for now, we say hold your horses. The change is coming.