Solar energy storage growing at a rate of knots

Back in May of this year, we wrote about battery storage. Whilst not an entirely new concept, its application and use in residential properties meant huge things for a country that was reeling from an attack on its solar industry. A few months down the track to the present day, it’s hard to pick up a newspaper or turn on the TV without seeing the incredible potential that battery storage can offer.

So it was interesting to read a new report commissioned by the Climate Council. The article boldly states that solar energy contained in household battery storage could be as regular as water heaters in as little as three years. What’s more, storage technology has dramatically dropped in price – almost 14% every year for the last seven years. It’s forecasted to drop even further, as wholesale production is currently being stepped up to unprecedented levels.

Which leads to the question: Is going “off-grid” still just a fantasy, or are we almost there to achieving the long desired goal? Two more larger companies are using Australia as a “testing” market for their new solar energy battery cells. New confidence has also been injected into the industry, following the appointment of Malcolm Turnbull to the prime ministerial post. It may not be so fanciful after all, however, there are still a few things that need to happen.

Energy wastage

We have previously written about the importance of using all of your stored electricity to pay back your investment. This notion about the relatively low prices of feed-in tariffs has come back recently, with an article in The Australian pinpointing exactly how much wastage can occur. The article pinpoints the need for energy providers and the States to come to the table in regards to offering more enticing tariffs.

Until this happens, it seems the best way to make the most out of your new PV system is to use as much electricity as possible. For those who have invested into PV panels on an environmentally conscious basis, this perhaps isn’t the most entertaining idea. We recommend to invest in appliances that emit low levels of carbon, such as a electric cycle water heater, which will provide ongoing hot water during all hours of the day.

Cost-effectiveness

Whilst solar panel prices are at historic lows, large scale PV solar panels that are capable of allowing you to go off-grid are still rather hard to obtain for many Australians. It’s also important to note that, whilst you may come across a PV panel installation deal that’s too good to be true, in most cases, it probably is. Cheaper panels mean cheaper workmanship, and what you pay less now will be more in the future for maintenance and repairs.

At Think Solar, we’ve been heavily involved in the development and promotion of both hybrid and off-grid PV solar panel systems. Our experienced team are in the best place to inform you on the feasibility of such a system for your very own home or business, and we can also deliver you a competitive solar quote. Get in touch with us, and see whether such a system can assist you cut down on your power bills, and give the environment a helping hand.