How do batteries help us save money?
Are batteries worth the cost? This is the biggest question we get daily, the answer is simply yes as the old adage goes, the best time to invest was yesterday the second best time to invest is today. As with any investment the sooner you invest the sooner you can capitalise on the savings, go for that much needed holiday, or get that car you always wanted. So how does the investment work?
Simply put the cost of living and inflation always increases each year, so by delaying your purchase decision the cost of equipment and installation has already increased annually and you haven't saved any money in the process. Not to mention the instability of not knowing or understanding how much your next electricity bill will cost or if there will be electrical outages in the future.
Example: Electricity cost you $100 a month now and inflation is around 5% annually, that means your paying over $15,000 for electricity in the next 10 years, not to mention any instability or spike increases that could raise that value by another 20%.
If you have solar, chances are it has already paid for itself, adding a battery might only cost around $10,000, therefore you have made a savings of more than $5,000 over the next 10 years, it might not sound like a lot but once you have solar and a battery chances are you will be saving a lot more than you realize as your usage habits normal increase therefore saving you more money had you not utilized a battery. But by waiting, the same battery will cost you more to install later and you have already paid the annual inflation.
Yes it's true you will still get an electricity bill as there is a charge per day for the network to offer you power on an ongoing basis, this goes towards paying for the millions of dollars worth of assets it cost to provide power to your premises. By installing equipment on your premises your cutting out the network insecurities of power interruptions and cost of inflation, as you have now shortened the distance between production and storage to your home, you now have more control over how much you use and save.
Does your solar system struggle to save you money through the winter or in bad weather? If so a battery would help you save money by capturing the daylight hours and storing it for when you need it most.
Example: A Solar only home will produce energy through the day so the consumer needs to turn on appliances in the day with a delay on timer and hope that they run when its mostly sunny, so your savings aren't guaranteed, you could save 20% of the bill or less depending when the loads ran, compared to when the sun was shining. A battery solves this problem by capturing the sun between the clouds and spotty bad weather and storing it for when your appliance runs, helping you save over the usual 20% that day, locking in more savings.
Key reasons to install a solar battery: - Energy Security (less outages) - Savings - Lower your cost of living - Maximise your solar production
Not all batteries aren't created equal and it's important to get the right one to fit what you expect to achieve.
