Battery Storage
Are home batteries worth their cost? let’s have a discussion.
Home battery installations can be worth the cost depending on various factors and individual circumstances. Here are some considerations to help you assess the value of home battery installations
Energy Independence and Backup Power: Home batteries, such as those used in conjunction with solar panels, can provide a reliable backup power source during grid outages. If you live in an area prone to power disruptions or have specific needs for uninterrupted power supply, such as medical equipment or a home office, the peace of mind and convenience offered by a home battery backup system may be well worth the cost.
Blackout Protection
If you live in an area prone to blackout you may think that installing a battery will keep you up and running when the grid is down, this misconception is wrong. To protect utility workers working on the grid all solar and battery installations in Australia have to automatically shut down when there is no power on the grid, this is unless you have batteries and inverters with blackout protection installed or a changeover switch. It is important to know blackout protection isn’t intended to power your whole home but more certain items such as fridges and lighting, heavy usage such as air conditioning and heating can quickly deplete batteries.
Price per kW
As of 2023 the price per Kwh of a home battery supplied and installed is approximately $1000, for an average battery say 10Kwh this equates to $10,000 and the payback time at current rates is approximately 15 years. The batteries have a warranty for 10 years.
Future proofing and resale value
As the energy landscape evolves, home batteries are expected to play a crucial role in achieving a more sustainable and resilient energy system. Investing in a home battery installation now can future-proof your home and potentially increase its resale value. Buyers may be attracted to properties equipped with energy storage, especially in areas with a high prevalence of renewable energy or a focus on energy independence.
Are home batteries worth it?
It's important to consider your specific energy needs, local energy policies, electricity rates, and available incentives when evaluating the cost-effectiveness of a home battery installation. Consulting with a reputable installer and conducting a thorough cost-benefit analysis will help you make an informed decision based on your unique circumstances.