Back in the year 2010, Australia saw a huge surge in the installation of solar system batteries. Ever since then, we have seen almost 3 million Aussies enjoying the benefits of batteries, including less electricity bill and complete independence from the grid.
Solar batteries help you enjoy the complete investment in the solar PV modules as they store the extra energy produced during the day. Thus, you can use that stored energy during peak hours or at night when solar panels are not generating electricity. However, with all the benefits that they come with, are they really worth the investment in 2023? Let us find out.
Solar system batteries in Australia are increasingly worth the cost, particularly with the combination of rising electricity prices and new government rebates that significantly reduce the upfront investment. While the payback period is still longer than solar panels alone, typically around 6 to 10 years, a battery allows households to maximise self-consumption by using stored solar energy at night, avoiding expensive peak grid tariffs.
Furthermore, the benefit of having backup power during blackouts and the ability to earn revenue through Virtual Power Plant (VPP) schemes adds substantial financial and security value beyond simple bill savings.
Why should you install solar system batteries?
Well, we do not deny that solar batteries come with a huge investment, but their payback period goes down due to the price hike in electricity in Australia. The National Electricity Market (NEM)’s wholesale cost of power increased dramatically in the first three months of 2022 compared to the same quarter last year, according to the Australian Energy Market Operator (AEMO). Having said that, storing the extra energy your solar panels produce seems like an intelligent choice, doesn’t it?
Let us explore some other reasons as well –
No Net Metering
With net metering, you can send the extra power your solar panels produce to the grid and receive some or all of it back when you need it. When the net metering system was in existence, people were effectively using the grid as a storage facility, but this convenience is currently not available anymore.
In the Northern Territory, net metering was provided until April 2020; however, the perk is no longer accessible for solar systems built after that time. You do have other ways to store electricity on the grid, but they are not as advantageous as net metering and unquestionably less profitable than owning your own solar battery.
The Price of Electricity is Higher at Night
You made the choice to export the excess electricity to the grid because a storage unit does need a large expenditure. You will have to pay more to buy back the precise amount of electricity you exported at night because the average household uses more energy at night than during the day. Thus, it follows that it makes more sense to store the excess in a solar battery rather than to purchase it at a higher cost.
Grid Outages
There are times when people experience grid outages. It might happen during a routine grid check-up, during a severe storm, or for just about any other reason. It happens more often than you might imagine. A solar battery may be your solution in those circumstances.
You wouldn’t want to return home to a fridge full of bad food, we are sure. A battery storage unit is a must-have if you want a constant flow of energy that you can regulate completely.
Sure, you could use a backup generator, but their noise would defeat the whole point of having solar panels installed on your roof in the first place since a non-renewable energy source is used to power it.
So, are solar batteries really worth it?
Investing in solar system batteries in Australia is becoming increasingly financially viable and attractive due to falling battery prices and significant government incentives. With feed-in tariffs for excess solar power decreasing and grid electricity prices continuing to rise, storing your self-generated solar energy for use during expensive evening peak hours dramatically increases your bill savings.
They are obviously worth the investment and for every good reason. Let us find it out.
- The price of solar batteries is currently falling dramatically. For example, a 6 kilowatt solar battery cost about $10,000 in 2020 but is now only about $7,700.
- They are the perfect solution for Aussies living off the grid.
- It increases the savings on your power bills along with a solar power system.
- It gives a complete sense of control on the amount of energy you are consuming.
- In the event of a power outage, you can enjoy the facility of power backup for days along with solar panels. Thus, you can completely end your dependence on the grid.
Installing a solar battery allows households to maximize the use of their self-generated solar power by storing excess daytime energy to use at night, drastically reducing reliance on the grid. A key advantage is the ability to provide essential backup power during grid outages, keeping critical appliances like refrigerators and lights running during a blackout. Furthermore, batteries enable customers to strategically avoid high peak-hour electricity tariffs and potentially participate in Virtual Power Plant (VPP) schemes for additional financial returns.
Final thoughts
Solar system batteries can be a worthwhile investment in Australia, especially as energy prices rise and government incentives make storage more affordable. While the upfront cost can be significant, the long-term savings, increased energy independence, and reliable backup during outages often justify the expense.
For many households, a solar battery enhances the value of an existing solar setup by maximising self-consumption and reducing reliance on the grid. Ultimately, whether it’s worth the cost depends on your energy usage, location, and financial goals—but for many Australians, solar batteries are proving to be a smart step toward a more sustainable and resilient energy future.
With the unexpected rising prices in power bills, solar batteries make complete sense. It helps to increase your savings and make the most out of your investment. In addition, the availability of various government rebates have made the entire thing beneficial and worthy!
