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Is Battery Storage Worth It? The Current Price of Solar Battery Storage in Australia
The price of solar battery storage in Australia ranges from $800 per kWh to $2000 kWh depending mainly on how much energy you want to store, where you live and any other features you need such as backup for when the grid is down.
Unlike solar power, battery storage offers a lot more than savings on your power bill. So when you consider ‘if battery storage is worth it’, you need to factor in:
- Blackout protection
- Virtual power plants (VPPs) – sell excess solar power at a rate much higher than standard feed-in tariffs
- The ability to run your home on solar power 24 hours a day
- Protection from future price rises for electricity
- The ability to charge an electric car, which also helps you save money on petrol
- Divesting your home from coal and gas
There are also a number of intangible benefits that our customers enjoy, such as the freedom that comes from being independent of the power grid.
We get a lot of messages from customers after long blackouts who are genuinely grateful and relieved that they could get on with life while their neighbours struggled to make do without power.
In the same way that a nice new kitchen may not have a specific ROI calculation, living in a home where you can generate, store and manage your own electricity can be worth a lot more than the strict return on investment.
Of course, not having to pay a power bill isn’t such a bad thing either!
In terms of cost, the amount you pay for a battery will depend on how much excess solar power you have, how much energy you use, and what you’re trying to achieve. Lots of factors!
But as a starting point, the price of solar battery storage starts at $5000 or around $105 a month over 5 years for a smaller Enphase system, while larger batteries such as Tesla Powerwall are around $18,000 fully installed.
When it comes to the price of solar batteries in your home, one also has to account for the installation cost. Installation costs will vary dramatically, and one wants to ensure that one pays for a reputable installer that won’t cut corners.
More detailed & information is available here: Solar Battery Storage Prices
Solar Batteries that we install such as Tesla Powerwall are compatible with any existing solar system. They are connected directly to your meter board where we install a system hub that connects your house to the cloud for advanced system monitoring and management. Solaray Energy Management Systems come with home automation capabilities built-in, and they are fully compatible with microgrids once they come online over the next few years.
Solar storage has taken off over the last 2 years to the point where we are now installing nearly all of our systems with either integrated battery storage or as a battery-ready solar system. The 2 main solar storage solutions are:
The price of storage depends mainly on how much capacity you want and any additional features such as backup for when the grid is down and home automation.
Many households are looking to capture excess solar power to use in the evening, which would often be well suited to a smaller battery such as Enphase, whilst other households are looking to run their home almost entirely on solar power with backup functionality. This will typically involve a larger battery such as the Tesla Powerwall.
The Current Price of Solar Battery Storage:
Tesla Powerwall Available For Immediate Installation
Reduce your power bills with solar battery storage from Tesla
Solaray Energy is leading Australia’s solar battery storage revolution in partnership with Tesla.
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- Compatible with all existing solar systems
- Manufactured to the highest safety standards from the global leader in residential battery storage
- Includes Online Configuration, System Monitoring and Tech Support provided by Solaray’s Online Support Team
- Finance is available
Living Without Power Bills – Angela’s Story
Powering the home used to cost her $2400, but in the months after combining her solar panels with a new Tesla Powerwall home battery, her power bill has dropped to below $0. This means her power retailer is, in fact, giving her a credit every quarter for the energy she’s contributed back to the grid.
“My power bill used to be $600 per quarter, the last bill I got was a credit of $40. I’m sure the next bill will be even better since it’s summer.”
Angela’s Tesla Powerwall was installed at a good time since power prices have continued to rise to record levels recently.
The even more remarkable fact is that Angela managed to reduce her power bill without cutting down on her electricity usage. In her living room when we talked to her, there was an air conditioner running and the standard home appliances were all running.
“Today, I did 2 dryer sessions and 3 washing sessions. I don’t skimp at all.”
Solaray Energy Featured on 7 News Sydney
Electricity prices are continuing to rise, making power prices in NSW amongst the most expensive in the world. This has lead to a new wave of solar power installations as well as thousands of households across Sydney adding battery storage to their existing solar power system.
As Solaray Director explained on Channel 7 News Sydney, we were blown away by the response, with Solaray seeing a rush of orders for the new Powerwall 2 home battery from Tesla, as well as other battery storage solutions from Enphase and Sonnen.
Solaray Is Australia’s Leading Solar Power Installer
Request a Quote Today to See How Much You Can Save!
Is Solar Battery Storage Good Value for Money?
One of the most common questions we are getting at the moment is: “is solar storage worth the money?”
Our answer is to throw a question back at you: “how much would you be prepared to spend to save, say, $1000 per year? Your answer to this determines when you are ready to buy Energy Storage…
Let’s say you install 5kWh of Energy Storage with an estimated lifetime of 10 years (3,500 cycles).
Let us also assume you will use all of that 5kWh each and every day.
Lastly, let’s assume you are paying 30c per kWh for your power today.
Therefore, your 5kWh of storage would be expected to save $1.50 per day (30c x 5kWh) or $547.50 per year. The batteries themselves should last well in excess of 10 years – although the capacity will slowly diminish over time.
If you were happy to accept that you would get your money back in say 7 years, you would, therefore, expect to pay around $3800 for that 5kW of storage. If you needed to get your money back in 5 years, it would be around $2700, and $5,500 for 10 years, and so on.
The cost of batteries starts at around $5,000 for smaller units such as Enphase and larger batteries such as the Tesla Powerwall start at around $16,000 for a 13.5 kWh battery that can be cycled every day. Because battery systems need to be accurately sized up to match your requirements we encourage you to make an enquiry. A member of the Solaray Storage Team can go through your options and present you with a full quote for installation.
How to size up a Solar Energy Storage System?
In reality, we use rather complicated spreadsheets and analysis to work out the best size storage system for you and to make a fairly accurate estimate of your savings.
Naturally, we also take into account the size and performance of your current or future solar system which has a major impact on the value you get from your storage system.
The Hidden Cost Of Battery Storage
Of course, the installation of batteries like most electronic equipment can impact the lifespan and effectiveness of the batteries. The last thing you want to be doing is buying a high-end battery, then have it break because the installers were a 2-person in a van operation that skimped on electrical hardware or messed up the installation.
Buying your batteries from a reputable installer can make a big difference to ensure the peace of mind that your batteries will operate for many years to come.
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Tesla Powerwall From Solaray
Tesla Powerwall has completely revolutionised the way Australian households use, store and manage their power.
Solaray has lead the charge with Tesla’s rollout of one of the most exciting products to hit the market, becoming the leading installer in NSW! This experience gives our customers the peace of mind that their installation is backed up with responsive technical support and customer service.
Compact, stackable and with a built-in inverter, Powerwall enables solar households to further reduce their power bill and maximise self-consumption of solar power. In fact, with a capacity of 13.5 kWh, a typical family home will be able to run all evening on stored solar power.
Tesla Powerwall comes with complete compatibility with any existing solar system, plus it can provide backup power for when the grid goes down.
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