As of May 31, 2021, data from the Clean Energy Regulator shows that Australia has installed more than 2.83 million rooftop solar systems. This means that more than 1 in 4 households in the country have a solar system, which is the highest use of solar energy in the world.
Many of these installations (547,347) took place in Victoria, a state with the second highest population in Australia. With most believing in the idea of lowering utility bills over the long term with a short-term, one-time investment, these homes become potential candidates for further home battery storage investments.
Solar Victoria is responsible for managing government incentives to promote the use of renewable energy. At the time of writing, 1,008 solar battery discounts are currently still available in the current version.
The discounts for solar batteries were initially released for selected postal codes, but have since been released for all postal codes in Victoria.
Solar battery discounts will remain at their current value of up to $ 4,174 until all discounts are fully applied in the 2020-21 period. They are then reduced to $ 3,500. So if you are considering one, it's better to take a step sooner rather than later.
A solar battery stores the energy collected by your solar panels, is ready to use when the sun is not shining, and reduces your electricity consumption at peak times (when electricity is most expensive).
There are many home battery storage options available under the Solar Victoria Discount Program, but they estimate that installing a battery can help a typical household save up to $ 640 per year. Here you can see the approved products.
The list of options is really impressive, with more than 1,400 variants available, each offering different storage capacities in different price ranges.
The most famous brands like Tesla Powerwall, Sonnen, LG Chem, but there are also some options from players like BYD and Huawei.
Typically, battery storage solutions are quite expensive, so the substantial savings from the Victorian discount can bring them down to an affordable price that makes sense for many households.
As an example, the Tesla Powerwall 2 offers 13.5 kWh capacity with 7 kW peak output and 5 kW continuous output.
When I look at our energy consumption by our SolarEdge inverter, I see that we typically use 1-2 kW with a couple of TVs, computers, lamps, refrigerators, washing machines, etc. If we turn on the heat lamps in the bathroom, turn on the stove, or charge the car, this can go up to 4 kW, but typically for a short time.
This means that without changing our usage, we could have up to 6.5 hours of electricity in the event of a power outage. In reality, we will likely reduce our use to essential items and we could have around 12 hours.
Each home will have different requirements, but if we were to buy a Powerwall 2 it would cost $ 11,050. With the current $ 4,174 discount, that price drops to $ 6,876 plus supporting hardware to $ 1,700 for a total of $ 8,576 before installation costs. While this is still a lot, it is likely similar to the cost of many solar systems.
Many lower capacity battery solutions are available at a lower price, for example BYD's Battery Box L7 starts at $ 6,725.00 + installation. It offers 7 kWh of usable energy and a maximum output of 6.0 kW.
By the time that solar investment has been a few years, the odds have paid off and that investment has largely forgotten what gets you ready for the next one.
It's important to know that these batteries are often guaranteed for 10 years, so any savings your family makes each year will be multiplied by the number of years you have. Even after the warranty has expired, the product is unlikely to stop working, but available capacity may decrease and continue to provide useful life well into the future.
More information at https://www.solar.vic.gov.au/solar-battery-rebate