Does battery storage make sense for you?
Whether battery storage stacks up for you is dependent on a number of factors. It is clear that financial viability alone doesn’t necessarily drive the decision. The best scenario is when you are on a high electricity rate and have relatively low demand. generating significant excess electricity and a battery will make financial sense.
It’s not just the cost of the battery that counts, but the value you can extract from the battery, from storing electricity for your own use later in the evening to reducing time of day demand charges. As a rough guide, today a quality solar system has a payback period of 4 to 5 years and a solar system with a battery solution will have a payback period of 6 to 10 years.
There is no simple “one size fits all” solution and it is relatively complex to determine the right size for a solar and battery system. To assist you please seek advice from an Excellent Solar Specialist.
LG Electronics offers great high efficient solar panels, and their sister company LG Chem offers one of the best lithium ion solar batteries. In recent times household energy costs have increased which has contributed to the recent strong interest in battery storage solutions. With several brands offering solar energy solutions, one of the most important questions is what product is best for you? Here are 3 points to consider when selecting a battery storage system.
Sungrow is a global leading inverter solution supplier for renewables with over 49 GW installed worldwide as of June 2017. Founded in 1997 by University Professor Renxian Cao, Sungrow is a global leader in research and development in solar inverters, with numerous patents and a broad product portfolio offering PV inverter systems as well as energy storage systems for utility-scale, commercial, and residential applications. With a 20-year track record of growth and success, Sungrow’s products are available in over 50 countries, maintaining a market share of around 25 % in Germany and over 15 % globally.
BYD was founded in 1995, BYD is a listed company on the Stock Exchange. They principally engage in IT industry mainly related to rechargeable battery business, handset and computer components and assembly services, as well as automobile business including traditional fuel-powered vehicles and new electric vehicles while taking advantage of our technical superiority to actively develop other new energy products such as solar farms, energy storage stations, electric vehicles, LED, electric forklift, etc… Currently, BYD has nearly 180,000 employees and 22 industrial parks in global with an area nearly 17,000,000 square meters.
Tesla Powerpack is the company’s utility-scale rechargeable battery, designed to store energy for off-grid and supplemental power systems, including large facilities and the electric grid. Like Powerwall, Tesla’s battery for home and small business use, Powerpack is based on lithium ion battery technology. The batteries’ modular design is adapted from the technology used in those for Tesla’s electric cars.
Commercial organizations and government entities can achieve greater control, reliability and security with their solar and Powerpack systems. Powerpack integrates seamlessly with solar to shave peak energy usage, lower demand charges and generate new revenue streams from grid services and demand response programs.