How much do solar panel batteries cost
The largest aspect that determines the price of a solar battery is its capacity – the entire quantity of energy that it can store. Typically residential batteries can store between 10 and 20kWh of electricity. How long a solar battery lasts in an outage depends on a range of circumstances – including how much electricity the home is drawing from it, what size solar system is connected to it, etc. – but at a fundamental level, the more battery capacity you have, the longer you’ll have power in an outage.
Solar Battery Price
The largest problem hindering further expansion in the solar storage business is the cost of a solar battery system. Prices for solar batteries mostly rely on the storage size, with costs about $1,000 – $2,000 per kWh storage capacity.
If you initially need asystem installed, then that might cost anywhere from $2,000 to $12,000 depending on system size. Most families with storage units would choose for a solar system with a capacity of 4kWh, which will cost roughly $6,000 to $8,000.
You will also need to pay for an appropriate solar inverter as well as installation charges which will normally run into thousands of dollars, depending on the complexity of the installation. Nearly all solar businesses will want a quote before they can offer you some sense of how much this will cost you back.
How much solar battery storage do I need?
Solar batteries exist in a number of sizes to fit a range of applications. Most solar batteries within an acceptable price category will not be able to totally supply your electrical consumption. Remember that the larger the battery, the more expensive it will normally be, so just purchase what you believe you will need.
Is solar battery storage good value for money?
One of the most popular inquiries we are getting at the moment is: “is solar storage worth the money?”
Our approach is to throw a question back at you: “how much would you be prepared to spend to save, say, $1000 each year? Your answer to this decides when you are ready to buy Energy Storage…
- Let’s say you install 5kWh of Energy Storage with an estimated lifetime of 10 years (3,500 cycles).
- Let us also assume you will use all of that 5kWh each and every day.
- Lastly, let’s assume you are paying 30c per kWh for your power today.
Therefore, your 5kWh of storage would be projected to save $1.50 each day (30c x 5kWh) or $547.50 per year. The batteries themselves should last well in excess of 10 years — although the capacity will slowly drop over time.
If you were happy to accept that you would receive your money back in say 7 years, you would, therefore, expect to spend roughly $3800 for that 5kW of storage. If you needed to get your money back in 5 years, it would cost roughly $2700, $5,500 for 10 years, and so on.