Home battery system is set to change the way we power our homes and slash electricity bills at the same time, a new Climate Council report reveals.
The independent not-for-profit organisation’s recent report, Powerful Potential: Battery Storage for Renewable Energy and Electric Cars, indicates rooftop solar systems with added home battery storage are set to become the most economical household energy source.
Just by adopting home battery system Australian households could soon be storing and reusing the power they capture from rooftop solar panels.
With 1.4 million Australian households already powering their homes with solar panels and home battery system capacity expected to grow 50-fold in less than a decade, the Climate Council report predicts half of all Australian households to adopt solar systems with home battery system technology (on the basis of a $10,000 battery system with a payback of 10 years). And the market could potentially grow to $24 billion. Plus, a home battery system is expected to almost double a household’s self-consumption of solar PV electricity.
The Makeover Group electrician David Jambor explains the potentially game-changing technology (rooftop solar panels coupled with home battery storage) could give homeowners the flexibility to control their energy use and in turn reap the benefits on their power bills.
Home battery system technology could see big savings for homeowners. Rather than export energy from rooftop solar back to the grid, households could be storing the energy they make and using it later on.
The biggest savings are expected to come from the opportunity to store electricity from the grid when prices are lowest (using the solar PV they generate from rooftop solar) and then turning to their home battery system during peak (and most expensive) times.
Climate Council chief executive officer Amanda McKenzie says with Australia leading the world in rooftop solar, it now has the opportunity be a world leader in home battery system too with major companies including two of the world’s biggest home battery manufacturers choosing Australia as their first market.
In fact, going off-grid by installing (home) battery system could be cost-competitive with staying connected as early as 2018 as the price of battery storage falls, she says.
About The Author – Richard Armstrong is a Director of Melbourne firm, The Makeover Group specialising in adding value to homes through renovation. He’s undertaken innovative post graduate property valuation research to identify what enhancements add the most value to homes in specific Melbourne suburbs. Educated in design and property valuation, he is also a Registered Building Practitioner.