What you should know about the future of solar batteries

Posted in Investment

Sky with sunshine and clouds

Around 4 million Australian homes will have solar panels on their roofs by 2030. The trend is undeniable – solar is the way to go to bring down your electricity bills and make your contribution to reducing our CO2 emissions.

But if solar power isn’t consumed as soon as it’s created, it’s automatically fed back into the grid. Our estimates show that an average solar household is only ever using around 25% of their solar system’s electricity.

If you don’t have a premium feed-in tariff, that means you’re selling the remaining energy back at a lesser price than what you pay for electricity from the grid.

So, how do you keep this value for yourself and give less of your hard earned money to your power company?

 

Join the thousands of smart Australians getting solar batteries

Forecast solar storage installations in Australia

The uptake of solar batteries, or solar energy storage, in Australia is growing exponentially.

Right now only 0.6% of solar homes have storage, however experts are predicting that up to 70,000 solar batteries could be installed in homes around the country this year. This would triple the number of installs up to the end of 2018 (estimated to be between 25,000 and 35,000) and make Australia the biggest home battery market in the world.

This battery boom is taking off because electricity prices are increasing while simultaneously batteries are becoming more affordable.

Just like solar panels a decade ago, the cost of solar batteries is decreasing and state government rebates are coming into play in Victoria, South Australia and the ACT. Coupled with the rising cost of electricity, declining feed-in tariffs and the ever-increasing number of households with solar panels, experts predict battery uptake will sky rocket to 10-15% by 2025.

The financial value batteries could offer individual households is becoming more apparent to consumers, and with up to 15% of households likely to have a battery by 2025, the amount of electricity being consumed from the grid is likely to fall around 15%.

So in less than six years, tens of thousands of Australian homes will install batteries and reduce, or even eliminate, their need to buy electricity from their power company. Will you be one of them?

 

What can a battery deliver for me?

Solar batteries help you maximise the value you’re getting from your solar system. In fact, with a battery, a typical solar household could boost the amount of solar power their utilising in the home from 25% to 80% or more.

The key is that batteries allow you to use your solar at any time of the day or night so you can buy less electricity from the grid. This means you can significantly reduce, or even eliminate, your electricity bill.

How does it work?

Batteries are really easy to use. In fact once your battery has been installed, it will run itself and automatically optimise your home to utilise your solar power.

When the sun’s up, your solar system will automatically charge your battery, just like it automatically powers your home. When the sun goes down, your solar system will stop generating electricity and your battery will automatically kick in. When you’ve drained your battery, your house will automatically switch to grid electricity. So don’t worry, your lights won’t go out!

In fact, if you’ve got the right set up, your lights won’t even go off during a blackout! Some batteries come with blackout protection, which means your solar battery will power your home even when the electricity grid goes down. (It’s important to note though that not all batteries have this feature. If you’d like blackout protection, speak to your installer when choosing your system.)

How much do they cost?

At $10,000 – $17,000 on average, batteries aren’t cheap. However the state government rebates we mentioned earlier are bringing down the cost of batteries for households.

In Victoria, the Solar Battery Rebate will kick off on 1 July, 2019 and will cover up to half the value of a solar battery install up to the value of $4838. This could, for example, bring down the cost of a Tesla Powerwall 2 to below $10,000 for the first time.

If you live in the ACT, your Government is offering a rebate of $825 per kW up to 30kW. This means a standard household with a 5kW solar system could be eligible for around $4000 in support.  

In South Australia, households can receive a subsidy of $500 per kWh up to $6000.

Not only do these rebates reduce the cost of the battery for the households receiving them, but government subsidies will likely drive higher demand. Higher demand means more competition which should drive down the price of batteries for everyone, so there’s never been a better time to get on board with solar batteries.

 

Our Big Aussie Battery

We know that Australians are taking the power into their own hands, but what are other energy companies and our Federal politicians doing?

Here at DC Power Co, we see the opportunity to harness the power of Australia’s rooftop solar to fix a broken system and deliver greater value for solar households.

Australia’s solar homes have three times the energy capacity of the country’s largest coal-fired power plant. It just needs to be unlocked. To do this we’ll make getting a solar battery simple and bring Australia’s solar households together.

Our goal is to connect them to create the country’s largest community power plant or ‘the big Aussie battery’, harnessing emerging technologies like virtual power plants to build a nation-wide network of household renewables to feed cheaper, cleaner power back into the grid for everyone.

By supporting households to get solar panels and a battery, we’ll set you up to protect yourself from electricity price rises for years, while also creating a more reliable, renewable energy supply for the nation.

 

Are you ready to get solar panels and/or a battery?

At DC Power Co, we want to make getting solar and storage easy. We offer independent advice, quality products and experienced installers, and all of our products are covered by competitive warranties.

So whether you’re ready for a personalised panel and/or battery quote or would just like to find out more, visit our website to request a call back from one of our solar experts.

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