When is the best time to buy a solar battery?

The solar industry has seen rapid technological advancement over the past 30 years. Solar battery options are improving all the time and the growing manufacturing industry has reduced the prices of solar batteries considerably than what they were 5-10 years ago. As the prices of solar batteries drop, it’s becoming an increasingly smart decision to add a solar battery to your solar system to make the most out of your solar.

Solar battery size

Choosing the right size for a solar battery is an important decision for any household when looking to add one to a rooftop solar system. To utilise the energy produced by your solar system, you’ll need to make sure you buy the right size battery to suit your energy usage throughout the home and rooftop solar production. The most suitable battery size can easily be worked out by looking at the previous electricity usage of a household and the amount of electricity produced by a solar system. If you’re unsure about installing a solar battery, one of our solar specialists can assist you in working out a solution to suit your households’ electricity needs.  

Case Study: Robert’s solar battery and energy management experience

In September 2016, Robert installed a solar panel system and had been considering installing a solar battery ever since. Following extensive online research, tracking battery prices and seeing no advantage in sending power back to the grid, Robert invested in an Enphase 1.2kWh solar battery for his home. Following his first full quarterly billing cycle, Robert saw his bill reduced to $134.62 compared to $381.05 from the same time the previous year, a reduction of $246.43*.

Falling prices

Throughout 2019, global prices of lithium and cobalt have dropped significantly contributing to more competitive prices for solar batteries. The significant price decrease has been attributed to a lack of supply and previously high prices, leading to a large increase in mining production resulting in an oversupply*. With lithium prices having steadied in recent times, the price decreases are not expected to continue making now the cheapest time for solar batteries.

There’s no need to wait longer

Electricity prices have been subject to substantial increases throughout Australia which have made the installation of a solar battery even more economically viable. By installing a solar battery combined with rooftop solar, households like Robert’s can offset the expensive costs of high rate electricity by storing their produced energy and utilising it during peak periods. In some states, there are also Government subsidies available to make the cost of investing in renewable energies even more affordable.

With the falling costs of solar batteries and systems and energy prices increasing, it’s never too early to start investing in renewable energy for your household. To speak with one of our solar experts about going solar call 1300 40 41 42.

*https://solarservicegroup.com.au/case-study-roberts-solar-battery-and-energy-management-experience/

*https://www.pv-magazine.com/2019/03/18/lithium-and-cobalt-prices-down-30-evs-watershed-moment-looming/