Should I Get Battery Storage for My Solar Energy System?
At night, while watching TV, the power suddenly goes out. It is usually frustrating and one has to look for a candle or flashlight. However, with solar battery storage, one can continue to watch TV. This provides great peace of mind and convenience. In the morning, was preparing breakfast and suddenly the power went out. Would be worried that my food would get cold. However, with solar battery storage, I can continue to use the microwave or oven. This allows one to save time and energy. Over the weekend, I was doing laundry in the washing machine when the power suddenly went out. Clothes that one would normally worry about would get wet. However, with solar battery storage, I can continue to use the washing machine. This makes can save time and energy. All in all, a rooftop solar system with battery storage allows me to enjoy electricity even when the power goes out, which makes me feel very happy.
Battery storage allows you to continue to use solar power at night or on rainy days, which is especially useful for remote areas or areas with frequent power outages. In addition, batteries allow you to power critical equipment, such as medical equipment or communications equipment, during power outages.
A solar + storage system offers the following advantages:
All-weather power: If you're using a time-of-day billing mechanism and don't have a solar system, your electricity bill at night may be more expensive because of the higher demand on the system. However, with battery storage, you can use the power generated during the day at a later date instead of relying on the utility company for power. This is also useful if you live in an area that experiences frequent power outages.
Wallet protection: if your utility raises your electric bill, you can avoid it with batteries. Battery storage allows you to utilize the low-cost energy you're already generating and storing, ensuring that your rates stay low and don't impact your monthly budget. In some cases, you can even sell the stored power back to the grid when electricity prices are higher and bank the profits.
Lower Electricity Bills: A solar + storage system can lower your electricity bills by allowing you to generate electricity from solar power during the day and use the stored power at night or on cloudy or rainy days.
More energy self-sufficiency: While most jurisdictions require homes to be connected to the local utility even if they don't use any of the utility's power, a solar + storage system allows you to move closer to "off-grid" status. Battery storage means you don't have to rely on your utility company to power your home for most of the year. You can also reserve some battery capacity at any time so that if the power goes out in your neighborhood, the lights will be on in your house.
Energy Savings: Solar energy is a renewable source of energy that reduces dependence on fossil fuels, thereby reducing carbon emissions. Energy storage systems can help increase the utilization of solar power, which further reduces carbon emissions.
You may be impressed by the benefits, but curious about the cost. The cost of a solar + storage system is determined by several factors:
Cost of solar panels: The cost of solar panels is a major component of the cost of a solar + storage system. Currently, the cost of solar panels has come down, but it is still the main driver of system cost.
Cost of the energy storage system: The cost of the energy storage system includes the batteries, inverters, and battery management system. Currently, the cost of energy storage systems is still high and is the second largest driver of system cost.
Installation Costs: Installation costs include the cost of installing the solar panels and the cost of installing the energy storage system. Installation costs vary depending on the size and complexity of the system.
Other costs: Other costs include grid access fees, maintenance fees, etc.
The cost of a solar + energy storage system is mainly determined by the following factors:
Cost of solar panels: The cost of solar panels is a major component of the cost of a solar + storage system. Currently, the cost of solar panels has come down, but it is still the main driver of the system cost.
Cost of the energy storage system: The cost of the energy storage system includes the batteries, inverters, and battery management system. Currently, the cost of energy storage systems is still high and is the second largest driver of system cost.
Installation Costs: Installation costs include the cost of installing the solar panels and the cost of installing the energy storage system. Installation costs vary depending on the size and complexity of the system.
Other costs: Other costs include grid access fees, maintenance fees, etc.
According to the U.S. Department of Energy, the average cost of a solar+storage system for a U.S. home is currently about $15,000. Of that cost, solar panels cost about $7,000 and the energy storage system costs about $8,000. If you already have solar panels installed and want to add storage, you can do so:Batteries range in price from $12,000 to $22,000. Ask your solar installer if they can add batteries to your system.
If you purchase a battery or solar+storage system separately, you will qualify for a federal tax credit. The federal Solar Investment Tax Credit (ITC) is a nationwide incentive created by the federal government in 2006.The ITC provides a federal tax credit equal to 30% of the cost of the system for homeowners of solar systems installed between 2022 and 2032. For solar systems installed between 2033 and 2034, the ITC phases down to 26 percent and 22 percent.
In addition, some states and regions provide additional solar cell incentives. For example, the U.S. state of California offers up to $2,500 in solar cell subsidies.
Below are some of the solar cell incentives offered by some countries and regions:
United States: Federal solar investment tax credits, California solar cell subsidies, New York State solar cell incentive program, etc.
China: financial subsidies, tariff subsidies, etc.
Japan: Subsidies, loans, etc.
Germany: subsidies, financing, etc.
Spain: subsidies, financing, etc.
