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Home ยป Why Invest In Solar Batteries?

Why Invest In Solar Batteries?

The solar panels are becoming more popular in recent times. Nearly 970,000 UK households are making use of solar panels to not just lower their dependence of grid power but to also reduce the need for National Grid but to lower their carbon emissions.

As energy prices are expected to increase by 54% once the new cap on energy prices comes into effect in April, the installation of solar panels is a more attractive option.

If you have solar panels, or are thinking of installing them on your roof, you may be interested in investing in solar batteries, too. Storage for solar panel batteries allows you to store the excess electricity that solar panels generate during the day , and also utilize it when your panels aren’t producing power in the evening.

Combining solar batteries and solar panel is new technique, yet it is a successful one. If you and your family don’t utilize electricity at least one hour each day, you’ll have solar energy that is not used. Most likely, you’ll lose 50 percent of the energy generated by your solar panels if you don’t have a solar power battery because the energy you use won’t return to grid. Solar batteries let you keep any excess energy to later use and reduce your dependence on electricity from National Grid. National Grid even further, decreasing your energy costs and reducing the carbon footprint.

It is no doubt that battery storage at home is essential in the near future because it allows people to utilize more renewable energy, cut down on the peak demand in the evening, and help avoid expensive transmission improvements for the National Grid. The technology for storage has advanced dramatically in the past couple of years, and it is becoming cheaper with time.

The number of houses that are using solar battery systems is about 10,000 because the additional cost added to the solar panels is a major obstacle for most individuals. The typical solar battery cost about $4500. The primary factors that influence solar battery prices are the chemicals that compose this battery. They also determine the life-cycle that the batteries go through, its capacity of the storage and usable capacity. The ROI of investing on solar battery will depend upon the battery’s capacity, battery degrading, and fluctuation in the price of electricity.

The two most frequently used chemicals in batteries utilized in solar panels are lithium iron and lead-acid. Although lithium-iron batteries are more costly, they are still able to enjoy an increased market share because of their longer life span and larger usable capacity.

A solar battery can typically last for 10-15 years, which means that over the lifetime of 25 years of most solar systems , you will require two batteries, which will effectively double the price.

But, it is possible that advantages that outweigh the the initial cost. Here are the main benefits of investing in battery storage along with your solar system

You can make the most of the solar energy you use at your home. By conserving energy for later use, you can save money.
You are able to be more independent of National Grid. National Grid which gives you more protection against energy price hikes.
You can drastically reduce your energy bills.
You can be assured that the power you use at home low-carbon since some renewable tariffs aren’t so green as they appear.
You can earn money selling the stored energy back into the grid.
You’re protected against power interruptions.
You can avail off-peak pricing by signing up for the time of use tariff that allows you to conserve energy at a time when it’s affordable and not import it at times when it’s costly.

You can also sell surplus power back into the National Grid via the Smart Export Guarantee (SEG) which is a government-sponsored initiative that requires energy providers that have 150,000 or more customers to pay’small scale generators’ for carbon-free energy. The maximum amount you can earn in the moment can be 5.5p for each kWh (offered by Octopus Energy).

Although electricity costs at most 18.9p per kWh and likely to rise you’ll be able to save money by storing the extra energy into your solar battery for utilize in the future. The rising prices for electricity on the grid make the idea of storing your own solar energy in solar batteries significantly more beneficial. You can reduce the cost of energy by charging your solar battery in off-peak times and releasing it during peak times. The savings you make on your electricity bill by not paying your provider can be used to reduce the cost of your battery system.

If you combine photovoltaics and a battery, you could operate your home using 100 renewable solar energy, both all day and night long, provided your energy consumption does not exceed the amount the battery is able to provide.

Storing your solar-generated energy in a storage device is additionally more efficient since the majority of your energy is utilized where it’s generated since it doesn’t need to travel around.

It’s crucial to determine the size of battery you’ll require. If the capacity of your battery isn’t enough, you will not be able to store a lot of energy and end up using a large amount of power that is generated by the grid. It’s advisable to consider installing an additional battery that has a larger capacity if you reside in a big house.

The concept behind the concept of time of use tariffs, (also known as TOUs) is to encourage customers to utilize energy during non-peak hours. This TOU flexible tariff allows you to enjoy lower electricity costs in times when energy demand and prices is at its lowest. You’ll need a smart meter that can monitor prices . This information could be utilized to transfer certain types of energy usage to less expensive times, allowing you to reduce peak rates.

No one is hurt this way because energy companies are able to offer discounts during times of low demand which allows them to better manage demand and customers are able to lower their costs.

It’s not easy to give an exact answer to the return on investment of solar batteries as it is dependent on the amount or how little the battery is utilized to determine the amount that can be saved. The one thing that you are certain of, however, is that a solar-powered battery will decrease your dependence on the grid which means you’ll pay less on energy costs.

The demand for solar batteries is certainly increasing. conducted a poll in 2019 , which revealed that only 6 percent from solar panel users owned their own batteries. However, 74% of them would be interested in buying one. This is an increase from the results from 2018, when just 60% of the respondents stated that they’d be interested in the purchase of a solar battery. An online survey by Which? in May 2019 revealed that 75 percent of 119 solar batteries owners claimed that the battery could have been a way to save energy costs to a large extent or to a certain extent.

If you are able to invest in an solar battery it’s a worthy investment just for their convenience. You’ll be able to rest in assurance that should there is a power failure and your battery is not able to help you out. They’re an excellent alternative to solar panels if you’re considering going completely off grid because with a good management system, sufficient power and enough capacity the solar battery will guarantee that you will are never without power.