The use of solar batteries is growing, but are they really worth the hefty cost?
You’ve definitely heard about solar batteries if you’ve lately been seeking to build a solar panel system.
Even while battery systems are becoming more and more common, many homeowners still don’t have a lot of knowledge about them.
You may store the energy that your solar panels generate using solar batteries.
A “hybrid solar system,” which is made up of solar batteries and solar panels, has a variety of benefits, including grid independence and availability to dependable backup power.
But how do solar batteries really function? More importantly, what is their price? Find out by reading on.
Table of Contents
- Workings Of Solar Batteries
- What Will The Price Of Solar Batteries Be In [Year]?
- Cost-Determining Elements For Solar Batteries
- Are Solar Batteries Financially Worthwhile?
- A Excellent Combination Is Solar Batteries And Solar Panels.
Workings Of Solar Batteries
The excess solar energy your panels create that you don’t need right away is stored in solar batteries so you may use it later.
You see, the time of day when your house consumes the least amount of power is also the period when solar panels create the greatest electricity.
A typical grid-tied solar system sends the extra solar energy back to the power grid.
However, when solar panels and a home batteries are used, the extra power is stored in the battery rather than being sent to the grid.
You may then utilize the energy you’ve stored in your batteries in place of paying for power from the utility when the sun sets and your panels aren’t generating any more electricity.
This means that regardless of the time of day, you get to use all of the pure, sustainable solar energy that your solar panels generate to power your house.
What Will The Price Of Solar Batteries Be In [Year]?
Installing a solar battery might cost anywhere from $200 to $15,000, depending on the battery’s chemistry.
The average cost of installing lithium-ion batteries for residential grid-tied solar panels ranges from $7,000 to $14,000.
Small-capacity lead-acid batteries are available for as low as $200, but they are normally used as emergency backup power for RVs and won’t be able to power anything in your house.
Some of the most well-liked solar batteries on the market are included in the table below:
Table 1. The most common solar batteries in 2022
|Trojan (SPRE 06 255)||$213|
|LG Chem RESU Prime||$8,000|
|Electriq PowerPod 2||$13,000|
*Preliminary cost projections
Although the price of solar batteries has reduced in recent years, they are still rather expensive, and the majority of people don’t have that amount of cash on hand.
Fortunately, solar batteries qualify for the federal tax credit of 26% for solar energy, and some states even provide extra incentives for solar batteries to assist down initial battery costs.
Cost-Determining Elements For Solar Batteries
#1. A Producer Of Solar Batteries
The brand you choose will affect the price of the battery, just as it does with everything else you purchase.
This is so because various brands employ various production procedures and provide various services.
For instance, the premium brand of solar batteries from German battery maker Sonnen may cost up to $30,000.
On the other side, the Tesla Powerwall is just $11,000.
#2. Chemistry Of Batteries
Although there are many other kinds of batteries available, lithium-ion batteries are used in the majority of home systems.
Nickel manganese cobalt (NMC) and lithium iron phosphate are the two primary lithium-ion chemistries used in solar batteries (LFP).
Because they have been around for a little while longer than LFP batteries, like the Electriq PowerPod 2, NMC batteries, like the LG Chem Prime, are a little less expensive.
Although lead-acid batteries are less expensive than lithium-ion batteries, some homeowners choose to use them because of their shorter lifetime, smaller capacity, and need for frequent maintenance.
#3. The Quantity Of Installed Batteries
It may seem obvious, but the cost of a solar energy storage system rises with the number of batteries added.
You’ll need a certain quantity of solar batteries, depending on:
- How much energy you use in kilowatt hours
- The battery’s capability for storing energy
- Number of appliances you want to power
- How long do you want your appliances to be powered?
One to two solar batteries will typically have enough energy stored in them to meet your energy demands and provide backup power to a few important circuits in the event of a power loss.
#4. An Extra Load Panel
Solar batteries often aren’t able to power your whole house.
The essentials, such as your lights and refrigerator, will continue to operate, but you’ll need to add many batteries to have enough energy to run your air conditioner during a power outage or if you’re off the grid.
You may need to install a sub-panel since a battery cannot power your whole home.
This will ensure that just the most crucial components of your house will be powered by the battery in the event of a power outage.
The cost of installing a sub-panel, also known as a backup load panel or a critical load panel, will increase by $1,000 to $2,000 more.
#5. Labor Expenses
The cost of a home solar battery installation will also depend on how much work is needed to build your battery system.
Because all of the electrical work and permits necessary for both the solar system and battery system will be finished at once, the labor costs may be somewhat cheaper if the battery is installed at the same time as the solar panels.
However, if the battery is added to the solar panel system after it has already been installed, labor costs may increase because new permits must be obtained, additional incentive forms may be needed, and additional electrical work may be necessary to connect the battery to the solar panels that are already in place.
#6. Discounts And Incentives
Depending on the solar battery incentives that are offered in your region, the cost to install a solar battery may also change.
The SGIP solar battery incentive program in California may pay for approximately a fourth of a battery installation’s expenses.
Other states with cheaper upfront fees include Oregon, which also has solar battery programs.
Additionally, provided that the battery is charged using solar energy, you may be eligible for an extra 26 percent off the cost of your battery installation.
Are Solar Batteries Financially Worthwhile?
It’s becoming increasingly usual to combine solar panels with energy storage, but that doesn’t always imply it’s the best option for everyone.
Homeowners that reside in locations with frequent power outages, where full-retail net metering isn’t given, or if there are battery incentives available in their area, would profit most from installing a solar battery storage system.
If getting solar is primarily for environmental reasons, solar batteries are also fantastic since they optimize the amount of renewable energy your house utilizes.
But if your main goal is to save costs, a solar battery may not be worthwhile for you.
That is to say, if you reside in a state that offers full-retail net metering, installing a battery will result in the same financial savings as doing it without one.
The battery’s only purpose would be to cost your solar installation thousands of dollars more while giving you peace of mind in the case of a power loss.
You may learn more about how the purchase of a solar battery will be impacted by your utility’s net metering policies here.
A Excellent Combination Is Solar Batteries And Solar Panels.
The best approach to get the most of your solar panels is to install a solar battery storage system.
Since you’ll be using the battery instead of the grid, batteries are a great source of emergency power.
They also boost your energy independence and, in certain situations, may help you save more money on your monthly electric bill.
Solar battery solutions do, however, have a cost.
Installing a solar battery may not be the best option for you if you want to reduce your power costs, particularly if your utility provides net metering.
However, having a battery backup to store energy for when you need it can be helpful if you live someplace that sees frequent blackouts, like the ones in California and Texas, or somewhere with Time-of-Use (TOU) utility prices.
The good news is that solar battery technology’s cost is going down, and soon solar batteries will be standard equipment for all solar energy systems.
Make careful to seek quotes from many reliable battery storage installers if you want to combine solar power with storage to get the finest installation at the lowest cost.
- When employing lithium-ion batteries, the majority of home solar battery systems will cost between $7,000 and $14,000.
- The manufacturer, chemistry, quantity of batteries placed, required electrical improvements, labor expenses, and incentives all play a role in determining the actual cost of a solar battery installation.
- Homeowners that reside in locations with regular power outages, have access to energy storage incentives, or don’t have full retail net metering are the most likely to benefit from solar batteries.