How much do you charge for a battery…?
Firstly, please be gentle as this is my first blog post and no better subject to kick it all off. At least 10 times a week I have the same conversation regarding batteries and it’s draining. As electricity prices continue to sky rocket and after yesterday’s power failure (not the port power failure of last 24 months) it’s a hot topic.
Everyone wants to know how much a battery is, simple answer is about as much as it will make you back. Now for those that don’t know me I have previously been in the banking and finance industry for over 10 years before seeing the bright light that is solar for over 4 years now. When looking at batteries/solar we all know about the environmental advantages, I could sit here all day till I’m red in the face talking about just how great renewables are and get political however I won’t.
What I will do is show some passion which for me is numbers and return on investment for all dreaming of ways to save some money to escape Adelaide’s wintery spring! Now with solar pv and our competitive pricing at Goliath Electrical payback periods are at around 5 years or 15%. Current interest rates are at an all-time low and so to savings interest! Good luck finding a bank willing to offer 5% on savings let alone 15%!
Now there are batteries in the market from as little as $2,000 up to $25,000+ and that doesn’t include install or cost of inverter to make it happen. Now of course the price difference all comes down to the brand, type of battery, size or in solar terms usable kW/h storage. I won’t go into too much detail about types of batteries but let’s look at a battery example which for $7,500 you could have installed 2.88kW/h of usable storage to any solar system you already have installed. 2.88kW/h won’t run your aircon but it will be enough for all your daily lighting usage, fridge and tv’s.
Not too bad hey, but what you really want to know is how much will it save me??? You can charge and discharge your 2.88kW/h battery 7,300 times which makes a total of 21,024 kW/h over its warranted 10 years. Let’s assume the greedy power company charge an average of 37 cents gst inc that would mean a saving of $7,778….. Basically what you are paying for it now will most likely only just cover the costs. Of course power could double by 10 years and savings improve but you get my drift.
End of the day if you want to have a dinner party and show your support to the renewables industry and money is not a decider go right ahead and call me to have batteries installed to your existing solar pv system or new one. If you dislike the energy retailers so much invest in them by becoming a shareholder and with your slice of the company have a voice to encourage renewables and why you’re at it enjoy the dividends!