As the technology for solar battery is developed more, the price of solar battery technology consequently continues to fall. The advancements made in this field of the solar industry will eventually make solar battery storage affordable for a wider population. Pairing Solar panels with solar batteries is becoming increasingly popular across Australia as people are realizing the possible savings that can be made by relying on the power generated by your own system. Installing a solar battery storage system can be a great way to maximise the benefits of the power generated by your solar panels.
Another reason why solar batteries are gaining popularity is because they are an excellent source of backup power in case of any power cuts, etc. thus increasing your energy independence from the grid and their ever increasing prices. With the help of solar batteries you can save even more on your quarterly electricity bills because you can keep drawing power from your solar battery instead of relying on the grid for your energy needs.
It is very apparent however that solar battery systems come at a hefty investment. If you do not have a very flexible budget to begin with and if you’re only looking to save money on your electricity bill, installing a solar battery might not be right for you, especially if your region has not introduced rebates on solar batteries yet. However, if you live in an area that experiences frequent widespread blackouts, and not that favourable feed in tariff rates then having a solar battery backup to store energy for when you need it will prove to be extremely beneficial.
It is very important to do your research before deciding on a solar battery. There are a vast range of options available in Australia for solar batteries and it is crucial to contact multiple reputable solar battery storage installers to ensure that you get the highest quality installation at the best possible price.
The price of most residential solar battery installations cost between $7,000 and $14,000 when using lithium-ion batteries. The actual price of a solar battery installation in Australia depends on the manufacturer, chemistry, number of batteries installed, necessary electrical upgrades, labour charges, and incentives or rebates if any are available. The installation of solar batteries along with the solar power system will prove to be even more beneficial for locations across Australia that experience frequent power outages and don’t have access to attractive feed in tariff rates.
Solar battery cost
The cost of installing a solar battery is very high as it is a fairly new technology. There are a few factors which determine the price of a solar battery and in order to understand the high prices of batteries in the Australian market, it is necessary to consider these costs.
1. Solar battery manufacturer
The brand of the solar battery that you choose will impact how high or low the price of the solar battery is marked. Each brand offers unique services and follows different protocols as part of their manufacturing process which influences the price of the solar battery. For example, the Tesla Powerwall 2 costs around $10,500 while other premium options like Sonnen can cost upwards of $25,000.
2. Battery chemistry
Most residential solar power systems are connected to lithium-ion batteries. It is noteworthy that there are two main lithium-ion chemistries used for solar batteries:
- Nickel Manganese Cobalt (NMC)
- Lithium Iron Phosphate (LFP)
NMC batteries, like the LG Chem, have been around a bit longer, making them slightly cheaper than LFP batteries, like the Electriq PowerPod 2
Another type of solar battery is the lead-acid battery which is comparatively cheaper than lithium-ion batteries. However, the lead acid solar batteries are not really recommended because of their shorter lifespan, lower capacity, and the requirement of high and frequent maintenance.
Number of batteries installed
Simply put, more the number of batteries you install, the higher the total system cost will go up. Deciding the number of batteries required is based on your budget and requirement. If your energy needs are extremely high which is causing your electricity bills to keep going upwards, then it may be time to consider adding a solar storage solution to your solar power system. In case you live in a location which faces repetitive power cuts, one to two solar batteries will hold enough stored energy to cover your energy needs and provide backup power to a few key circuits.
One of the most obvious costs to consider is the amount of labour required to install the solar battery system. The labour cost will impact the price you will be charged for a home solar battery installation.
If the solar battery is being installed at the same time as the solar panels, the labour costs are comparatively lower because all of the electrical work and permitting associated with both the solar system and battery system being completed all at once.
The labour could cost could be higher if the solar battery is being added to the solar panel system after it has already been installed, as new permits will need to be filed, more incentive forms may be required, and some additional electrical work may need to be done in order to connect the solar battery to the existing solar panels.
Incentives and rebates
The cost to install a solar battery can also vary depending on what solar battery incentives are available in your area. Some regions in Australia now offer rebates with the solar batteries along with the solar power system which has encouraged more people to enquire about such “battery package” solar deals.
Contact SunMate Solar today for expert advice on if the solar battery is the right choice for you and get some amazing deals!