Are Batteries Worth it in 2022?

The demand for solar battery storage continues to rise as more Australians are looking to take the next step in their solar journey and adopt a more self-sufficient lifestyle. Battery storage allows your unused solar electricity to be stored in a battery for later use, rather than sending it back to the grid for a minimal amount. The stored power can then be used at night when your system isn’t generating electricity, and for most us, the time when we’re consuming the most energy. Certain batteries can even continue to supply power to your home should you experience a blackout, so you can keep your essential appliances like fridges and lights running.

There can be several misconceptions about batteries, such as they’re still too expensive, and technology will improve so you should hold-off a bit longer.

The truth is, batteries are already using some of the most efficient technology available. Many batteries use a variation of lithium-ion technology, as it is proven to be one of the most reliable and safest technologies. For example, a lithium compound called NMC (Nickel-Manganese-Cobalt) is known as one of the most functional lithium-ion battery designs, as these three primary lithium compounds work together to produce high capacity and power output while maintaining a stable shelf-life. Many well-known brands use this technology, such as LG Chem, Tesla and Senec. Other batteries, such as the sonnenBatterie, also use a variation of lithium-ion technology called lithium iron phosphate (LiFePO4).

What keeps the price high, is more to do with economies of scale. Just like with many things, such a televisions, mobile phones and even solar panels, the more of these that are manufactured, the cheaper they become.

Below are some of the top benefits of investing in batteries:

Benefits of Batteries
Reduces your electricity bill
Easily the most appealing benefit of them all, having battery storage in conjunction with your solar system can significantly reduce your electricity bills due to the reduction in using electricity from the grid. As solar is produced during the day, if you have the correct sized system, majority of your daytime electricity should be covered and, in many cases, an excess of energy is produced. This excess will be sent to your battery for you to use when you need it. By using the stored energy at night, this leaves very little room for your home to consume energy from the grid. With electricity prices continuing to remain high, reducing what you pay as much as possible could save you a lot of money in the long run.

Pay-back Periods and ROI
Another misconception many of us have with batteries is that the battery won’t return enough savings in its lifetime to cover the cost of the investment. This is known as your payback period. For some solar and battery packages, including our new SENEC battery, payback periods can be 10 years. Many good-quality batteries can have a designed battery-life of 20 years, so you can certainly have confidence that you will receive some notable returns from your battery within this timeframe.

Protects you from outages
In the event of a power outage, those with select batteries can have assurance that their home will continue to receive power despite the grid being down. This can prove to be immensely beneficial, especially if you live in an area where this is common or have essentials in your home that need to always be connected to power.

Better for the environment
Electricity form the grid is created by burning fossil fuels such as coal, and this contributes greatly to issues such as climate change. However, solar power is completely carbon-free, meaning no carbon emissions are produced when solar energy is generated by your panels. By then storing excess energy in your battery and using it later on when it’s needed, you’re still not producing any carbon emissions.

Subsidised by the government
The government has been doing their efforts to reduce carbon footprints through the Renewable Energy Target (RET) scheme, which aims to have at least 33,000 GWh of Australia’s electricity come from renewable energy sources such as solar by 2020. Although the target has long been reached ahead of this year, the government still provides subsidies and rebates in order to give households that meet an income bracket access to the benefits of using solar batteries.

Investing in Batteries in 2022
In conclusion, batteries can provide a range of benefits that can ultimately save you money and contribute to a more sustainable environment. While battery storage may seem expensive upfront, your energy consultant can propose a system that’s going to be suitable for your individual energy needs, and your budget. If you would like any further information on battery storage for your home, please contact us today.