Although pairing solar panels with energy storage is becoming more common, it doesn’t mean it’s the right choice for everyone.
Installing a solar power battery storage solution provides the greatest benefits to homeowners who live in areas that experience frequent power outages, where full-retail net metering isn’t offered, or if there are battery incentives available in their area.
Solar batteries are also great if your main reasons for going solar are environmental, as it maximizes the amount of renewable energy your home uses.
However, if you’re only looking to save extra money, a solar battery might not be worth it for you. What we mean is, if you live in a state with full-retail net metering, you’ll be saving the same amount of money with a battery as you would without one. All the battery would be doing is adding thousands of dollars to your solar installation and providing you peace of mind in the event of a power outage.
We have an in-depth guide on how utility net metering plans impact the investment in a solar battery to give you a better understanding of what could work for you.
Solar panels and solar batteries make a great pair
Installing a solar battery storage system can be a great way to get the most value out of your solar panels.
Batteries are an excellent source of backup power, they increase your energy independence, and in some cases can even save you more money on your electric bill because you’ll be drawing power from the battery instead of the grid.
However, solar battery systems do come at a price. If you’re looking to save money on your electricity bill, installing a solar battery might not be right for you, especially if your utility offers net metering. However, if you live in an area that experiences widespread blackouts, like the ones in California and Texas, or somewhere with Time-of-Use (TOU) utility rates, having a battery backup to store energy for when you need it will be beneficial.
The upside is that the price of solar battery technology continues to fall, so much so that someday in the near future, solar batteries will come standard with all solar energy systems.
If you’re looking to pair your solar panels with storage, make sure you contact multiple reputable battery storage installers to ensure that you get the highest quality installation at the best possible price.
Most residential solar battery installations will cost between $7,000 and $14,000 when using lithium-ion batteries.
The actual price of a solar battery installation depends on the battery manufacturer, chemistry, number of batteries installed, necessary electrical upgrades, labor costs, and incentives.
Solar batteries are most beneficial for homeowners who live in areas that experience frequent power outages, have access to energy storage incentives, or don’t have access to full retail net metering.
The cost of solar batteries has decreased over the past few years, but they still cost a pretty penny - and most people don’t have that kind of money just lying around. Luckily, solar batteries are eligible for the 30% federal solar tax credit, and some states even have additional solar battery incentives to help cut down on upfront battery prices.