The Price of Photo voltaic Batteries – Photo voltaic Battery Worth

Photo voltaic Alternative has beforehand been publishing common photo voltaic PV system costs on a month-to-month foundation since August 2012 in our Photo voltaic Panel Worth Index, which targeted on family photo voltaic costs and which finally turned the Photo voltaic Alternative Worth Index. In Might of 2014, we added our Industrial Photo voltaic Worth Index for bigger system sizes, and in 2017 we launched this Dwelling Battery Storage Worth Index.

Common out-of-pocket battery set up costs – November 2022

The desk beneath shows common, indicative battery set up costs from a spread of installers round Australia, most of whom are energetic within the Photo voltaic Alternative community. Costs embrace set up and GST.

Undecided what battery measurement is true on your house? Try our Fast Information to Sizing Residential Photo voltaic & Battery Methods

Common battery set up costs – November 2022

On this desk we attempt to take a holistic method to representing battery worth. When evaluating battery techniques, folks within the trade usually communicate by way of ‘{dollars} per kilowatt-hour’ ($/kWh) of storage capability. That is a simple shortcut for discussing battery worth (which is why we’ve included it), however doesn’t inform the total story as completely different batteries can tolerate completely different ranges of use. For instance, some batteries might solely be charged/discharged (‘cycled’) as soon as every day, whereas others can by cycled as much as 2.7x per day (see: sonnen) with out voiding the guarantee.

To this finish, we’ve additionally included figures on ‘vitality throughput‘. The vitality throughput metric provides you an concept of how a lot you’ll pay for every kWh of vitality that you just cross via the battery over its lifespan.

We’ve checked out two eventualities:

1. For those who cycle the battery as many occasions as its cycle life will enable per day (whole cycle life), or
2. For those who cycle it solely as soon as per day (which is the extra life like state of affairs since most houses will cost their batteries solely with the solar and never with the grid – c.f. tariff arbitrage).

As famous within the footnotes of the picture above, these figures are extremely indicative and are meant to function a method of comparability between battery merchandise – they don’t consider battery degradation or effectivity.

The ‘Are we there but?’ Meter(s)

Regardless of their rising reputation, the overwhelming majority of the just about 2 million households with photo voltaic panels in Australia would not have batteries. As battery expertise prices fall, battery storage will turn out to be extra financially enticing and the variety of battery installations will improve.

The ‘Are we there but?’ Meter (the charts beneath) gauge the general attractiveness of house battery storage in Australia – for each households contemplating a model new solar-plus-storage system in addition to these taking a look at a doable battery retrofit.

We take a look at the nationwide ‘low finish’ battery costs for moderately-sized (5kWh & 10kWh) battery techniques (not a selected product, however extra an amalgamation of assorted merchandise that we’ve seen) and see how the estimated payback intervals stack up towards a theoretical ‘excellent’ payback interval of seven years; we see this 7 yr mark as being an affordable signifier of the battery market being the place it must be to make sense for many households (the ‘there’ in ‘are we there but?’).

So is battery storage there but?

1. Battery plus inverter – (Related for houses enterprise a full battery retrofit or a brand new photo voltaic & storage system with two inverters)

At $800-$900/kWh for techniques on the ‘low’ finish of the worth spectrum, and with payback intervals approaching 10 years in the best combos of circumstances, we’re shut sufficient for many Australians to justify investing in a battery retrofit, however not but within the territory of ‘mass attraction’.

Be aware that this month we up to date the electrical energy worth particulars we use in our modelling, which has modified the outcomes past simply the battery worth actions.

Additionally keep in mind that this chart is supposed to replicate the nationwide scenario as an amalgamated entire – your particular person scenario (together with the state you reside in, the quantity you pay for electrical energy & the deal you get on a battery system) could also be conducive to a shorter payback interval, so we encourage you to look into it for your self.

(You may get battery system pricing by requesting a Quote Comparability via our system. You may consider battery viability on your scenario utilizing our  Photo voltaic & Battery Storage Sizing & Payback Estimator Instrument.)

‘Full’ battery-plus-inverter system set up costs vs common payback intervals throughout two battery measurement classes (5kWh and 10kWh). Be aware that the bottom worth on a 5kWh battery measurement class providing is already beneath the $7,000 affordability threshold. Click on to enlarge.

2. Batteries solely – (Related for houses buying a model new photo voltaic+storage system with hybrid/battery-ready inverter, or retrofitting batteries to a battery with a hybrid/battery-ready inverter)

Costs for ‘battery solely’ installations didn’t change this month as considerably as they did for battery+inverter techniques, however the scenario stays the identical as earlier months: For anybody out there for a model new photo voltaic system, it might be worthwhile to tack on a small or medium-sized battery financial institution when you’re at it, judging by this month’s knowledge. A 5kW photo voltaic system plus (roughly) 5kWh battery financial institution might price as little as $10,000, relying on the place you reside and which merchandise you go along with. A system of this measurement at this worth would allow most households to dramatically scale back their electrical energy payments, would ship an affordable return and would enable for a decent diploma of vitality independence (probably together with some emergency blackout safety).

‘Battery solely’ pricing vs payback intervals throughout two battery measurement classes (5kWh and 10kWh).

About this knowledge

Photo voltaic Alternative’s Battery Storage Worth Index is the companion to our Photo voltaic PV Worth Index, which covers photo voltaic system set up costs round Australia. The purpose of the Battery Storage Worth Index is to help consumers in getting a grip on this comparatively new market and assess whether or not batteries are price their whereas.

Tables and charts included on this article have been compiled utilizing knowledge from Photo voltaic Alternative’s installer community database (in addition to a few exterior sources), which accommodates regularly-updated pricing and product particulars from over 100 photo voltaic & battery set up corporations throughout Australia. Costs don’t ordinarily incorporate meter set up charges or extra prices for troublesome installations.

© 2019 Photo voltaic Alternative Pty Ltd