The price of battery storage systems is falling rapidly. Modelling shows households will reduce their annual cost of electricity by adding 13.5kWh of battery storage to an existing 5kW solar system.
Households without an existing 5kW solar system will need to purchase a solar and battery system. The modelling shows only a minority of households receive a financial benefit when they must recover the cost of both the solar system and battery storage system.
With the price of both solar systems and battery storage systems falling the question becomes:
How long before the price of solar and battery systems ensures a majority of households should consider the investment?
Assuming current price reductions continue then analysis shows delaying the purchase 3 to 6 years results in the majority of households receiving a financial benefit.
Delaying the investment 8 to 12 years suggests almost all households will receive a financial benefit, supporting suggestions the Australian energy market is soon to experience major disruption:
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Copyright of this article remains with Dr Martin Gill. All references to this article should include the author’s name and website www.drmartingill.com.au.
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