This year, there has been a lot of discussion regarding the benefits of installing a battery to an existing solar panel system. Since it is a great way to save energy as well as energy bills and excess electricity, lots of Queensland residents are developing a great interest in it. But, is it worth to invest in solar system and batteries at this point of time? Let’s take a deeper look at it.
For those who are unaware and that may be a lot of us, Energy Minister of Queensland has announced the loan scheme and grants for the solar systems that will help up to 1500 household and small businesses to cut their power bills by storing solar energy.
You’d be surprised to know that almost half a million households in Queensland are producing energy from rooftop solar. To support this, the energy minister announced that from 19 November 2018, QLD residents can apply online for interest-free loans of up to $10, 000 and grants of $3000 to buy batteries or combine solar-battery systems.
With the attractive policies, interest-free loans and incentives, the government is looking forward to adding almost 1500-2500 battery storage systems in Queensland. But does install solar battery is really worth?
The Assessment of Battery Storage:
Batteries have gained tremendous interest amongst the Queenslanders thanks to the promise of becoming energy self-sufficient and having backup power, even in blackouts. Most people have mistaken this excess energy as the rate they pay their retail provider. However, here we need to take into account that this excess power could have been sent to the grid for a feed-in-credit.
Also, solar panels are a long-term investment. While installing a new solar system with a battery, at approximately 15,000 AUD, it can take eight years or more to see even the smallest of return. While the solar system takes 3 years to pay off, the battery may be sitting at 15 years.
For this reason, it sounds wise to forgo the battery and opt only for the solar system installation.
When Solar Batteries Will Be Considered As A Wise Investment?
- Frequent grid outages can make solar batteries a practical solution
- Installing solar batteries can lessen your dependence on fossil fuel. As compared to batteries, switching to solar has a far better impact on the environment.
Though the QLD solar battery rebate is beneficial for the grid, it still imposes very little financial advantage for the consumers. The QLD scheme is robust, but unfortunately, the payback period of the battery still doesn’t align for the customers.
It makes more sense to consider more solar panels over a solar battery. Remember – the battery can always be added later. Thus, there’s no need to rush into it now, just because the government is offering a rebate. If you have any doubt regarding the solar power systems, installation or rebate, feel free to turn to the experts at Go Run Solar.