Considering Installation of Batteries to Existing Solar Panels

Hello folks,
I have been living in a solar panel installed house from last year and since then I did not pay for electricity bill. Since, the feed in tariff has been reduced to 5cents per kw, wondering if it is a good idea of installing Tesla powerwall battery in the house?
Not sure, as this is new technology to store electricity in house but really convincing as many people have successfully installed this & taking benefits from it.
Roughly, I think it will cost approx 10k for this. My question is if it really worth to have this battery installed

I live in VIC & own the house but paying a large sum of mortgage.

Update::
Thanks for your input & thoughts. I will wait atleast a year & review again.

Comments

  • +2

    No. Not yet.

  • The new Tesla powerwall is coming out in a couple of months. I reckon go for it as electricity prices will just keep increasing. I enquired with Energy Australia as they have the Tesla powerwall but haven't got around to doing anything further

  • +1

    It depends.
    While solar panels are cheap enough that they make sense for just about everyone with daytime power usage, batteries are still pretty costly, though dropping fast.
    This analysis:
    http://reneweconomy.com.au/teslas-price-shock-solar-battery-…

    Shows batteries likely will pay for themselves over their warranted life span (meaning if they last longer they will return a profit), but that used south Australian power prices, most other states are cheaper.

    My conclusion is it is line ball. I am a big supporter of renewable energy, and have solar panels, but I will wait and see if prices drop further in a year or so.
    For some households (e.g. Part pension retirees) there is an incentive to spend capital, to lower ongoing costs. The tesla batteries have been popular with these people who are more exposed if power prices rise in future.

  • I wouldn't bother as yet
    there have been alternatives to the Telsa wall for years, if people had the storage and capacity they could very easily run things off a bank of batteries and invertors in a DIY solar arrangement provided it was all legally wired by a sparky and to australian standards

    That said, it was a complete off grid system

  • +1

    As you're at a 'gathering information stage' this might be helpful - there's a new product on there every other time I look:
    https://www.solarquotes.com.au/battery-storage/comparison-ta…

  • +3

    My brother works in a business supplying solar systems. I asked him wether I should put batteries in yet and he said no. Not yet. The cost benefit isn't there yet, it's more effective to work out how you can use you generated electricity before it is exported.

    I also considered putting a circuit in to heat our hot water with excess generated power. Since we run off peak hot water and use most hot water in the evenings there wouldn't be much demand in the hot water service to justify the $600-$700 for the circuit upgrade.

    I run the pool pump during the day, dishwasher and washing machine in the day and have panels installed on north and west facing roof trying to maximise the benefits. At the end of the day I got the install to reduce future electricity costs as much as to save money now.

  • Thanks guys for your input & thoughts. I think it is better to deposit 10k into mortgage than investing into battery system for several reasons.

    1. As most of you people suggested, I should wait.
    2. It is quite expensive at the moment & therefore should wait for few other competitors in the market until the price falls.
    3. Prefer to keep the initial cost into mortgage account which will save me interest on it.
    4. It will take years(5-10) to get my initial cost back.

    Thanks everyone for your input & thoughts. Much appreciated.

  • Sorry to highjack but I can see people who know about solar.

    Can anyone tell me whether I should fork out money for more expensive solar panels?

    I'm in a dilemma here.

    Trying to decide on which Tier 1 panels as they are both great.

    My ozbargain tells me to go with Trina based on price/watt but would like an input for those who might know.

    LG does perform better but is it worth it?

    Trina 290w - $1.32 per watt

    LG 320w Neon X - $1.60 per watt

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