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When it comes to rising costs in almost all aspects of our lives, people are constantly looking for ways to save money. We know that this can be achieved with solar panels, but what about solar batteries?
If you have been researching for solar panels of your own, you may have come across solar batteries. But what are they, and are they worth the extra investment?
We’re going to delve into the ins and outs of solar batteries, and explore how solar batteries can help you.
What are solar batteries?
Solar batteries allow you to store extra electricity that has been generated from your solar panels to use at a later time when you need it.
The majority of the electricity is produced during daylight hours, when your energy consumption tends to be at the lowest, and as a result, you end up wasting a lot of the energy that you have generated. In fact, you’re likely to lose around 50% of the electricity that you make if you don’t have a solar battery to store it.
With solar batteries, you are also able to choose what you want to use the excess energy on, for example using it to power your house, or to charge an electric vehicle. Just like with solar panels, using solar batteries alongside your main system means that you will be less reliant on the Grid, therefore, saving money on your energy bills.
How much do solar batteries cost?
Installing a solar battery system alongside your solar panels can be costly, and will depend on how many panels you have installed, the size of the battery, and the battery brand and type.
If we look at the average, which is based on a 4kW battery, 10 panel system, and a 3-bedroom house, it’s likely going to set you back around £4,500.
Like we said, the amount depends on varying factors, but most people spend between £2,500 – £6,000 for their solar batteries.
This is expensive, and we also have to take into account that solar batteries don’t last as long as solar panels do, with their shelf-life being a maximum of 15 years. This means that you would almost certainly need to make another purchase throughout the lifespan of your actual solar panels, which just adds to the cost.
There also may be additional costs that you don’t consider, like if you want an inverter to make an alternating current battery, which is easier to fit into systems. This would set you back another £800 or so, and would last around 10 years.
Although, one good thing about solar batteries is that they don’t require much upkeep at all, and so are easy to take care of, meaning that you don’t need to worry about maintenance costs.
Is a solar battery actually worth the investment?
Solar batteries are definitely worth it if you want to be as independent from the Grid as possible. They give you the ability to store all the extra energy generated which you can then use at a later point, and have a positive impact on your carbon emissions, helping you to save 28 tons of greenhouse gas emissions over the solar system’s lifetime.
It will take you a lot longer to break even on your investment however, so this should be taken into account if you are looking at investing in solar for a profit or a quick return.
If we look at the ROI of including a solar battery in your solar system, it would take the average house just over 10 years to break even. The added expense of solar batteries, including having to buy at least 2 to match the lifespan of your panels, increases the time to get your investment back by another 10 years. This means that with a solar battery, you would be looking to break even in about 20 years.
This is a really significant amount of time, and should definitely be taken into account when looking to purchase solar batteries.
When looking at the ROI of solar batteries, we need to take into account the variables that can affect it.
The battery size is an important point, as if the battery is too small, then it won’t be able to hold as much spare electricity, which could mean that you end up having to rely on the Grid.
You should also take into account the degradation rate of solar batteries, as some will be able to last a lot longer than others, like the Tesla Powerwall one, which means you can use them over and over again.
Then there’s the fact of energy prices. Even though this isn’t something that you have any control over, it’s important to consider that the higher the electricity price, the more worthwhile it is having a solar battery.
Should you get a solar battery?
You should definitely consider getting a solar battery if you want to achieve independence from the Grid, and want to mitigate the rising cost of energy bills. You are able to shield yourself from price hikes and also power cuts that may occur, so solar batteries can be incredibly handy to have.
Solar batteries are also a great investment if you want to cut your carbon emissions, and help to better look after the environment.
While solar batteries are costly, you would still save money overall, making on average £3,590 net profit by the end of your solar panels’ lifetime. However, the large upfront cost is something that tends to hold a lot of people back from investing in a solar battery, so if you are looking to receive your ROI quicker, then maybe just stick to solar panels by themselves.
Breakdown
Investing in a solar battery is a decision that you have to make based on what you are looking to get out of it. They can be a good investment for those who can afford them, but if part of the reason you want them is for profit and savings, then it’s probably better for you to only have solar panels, as you will be able to see a much quicker return.