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Why do Solar batteries cost so much?

Why do Solar batteries cost so much?

The cost of installing a solar battery is very high as it is a fairly new technology. The much higher cost of installing a solar battery makes it very apparent that solar battery systems come at a hefty investment due to a lack of government rebates on them in most areas across Australia, a very important factor that has made installation of solar panels and inverters more affordable for the general population. 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.

In this article we have discussed few of the factors which are a cause for the high price tag on solar batteries and their installations across Australia.

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.

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.

Labour costs

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 and a free quote on a solar battery and make use of our amazing deals!

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