The cost of solar panel batteries in Australia has become a hot topic as more households adopt renewable energy. With the growing popularity of solar panels, many Australians are now choosing solar batteries to store extra energy produced during sunny days. This way, they can use solar energy even when the sun isn’t shining.
Nonetheless, 2 million Australian households have a solar system without a battery. A big reason for this is the solar panel battery costs, which despite the government rebates, remain quite high.
This guide will help you understand solar panel battery costs in Australia, using verified information from experts. If you’re a homeowner thinking about solar batteries or a business looking at energy options, this guide will give you the details you need to make the right choice.
Solar Panel Battery Costs in Australia
To better understand solar panel battery costs in Australia, here’s a simple breakdown of the average prices for different battery sizes, as of May 2024.
The prices include the cost of the battery alone if you already have a hybrid system installed. We have also mentioned the total cost when adding an inverter or charger for DC Coupled battery systems.
3kWh Solar Battery System
- Battery Only: Around $3,940
- Battery + Inverter/Charger: About $4,700
8kWh Solar Battery System
- Battery Only: Roughly $9,650
- Battery + Inverter/Charger: Close to $10,850
13kWh Solar Battery System
- Battery Only: Approximately $16,200
- Battery + Inverter/Charger: Around $18,100
18kWh Solar Battery System
- Battery Only: Around $23,800
- Battery + Inverter/Charger: About $26,300
Knowing these costs helps people understand what to expect when investing in solar energy storage. The extra cost of the inverter or charger matters for those who don’t have a hybrid inverter system already.
Factors Affecting Solar Panel Battery Costs
Several factors influence solar panel battery costs in Australia:
Battery Capacity: The bigger the capacity of the battery (measured in kilowatt-hours, or kWh), the more it will cost. Bigger batteries can store more energy, and that comes at a higher price.
Battery Type and Technology: Different battery technologies, like lithium-ion, lead-acid, or flow batteries, have different costs. Lithium-ion batteries are common and efficient, but they are more expensive than other types.
Brand and Quality: High-quality and well-known brands often have a higher price because they offer better performance, longer life, and good warranties. Well-known brands usually have better technology and customer support, which adds to the cost.
Inverter/Charger Costs: If a system needs an extra inverter or charger to convert and store energy, this will increase the overall cost.
Installation Costs: The complexity of installing the battery system can also impact the price. More complicated setups or hard-to-reach locations might need more time and resources, which adds to the cost.
Government Incentives and Rebates: Sometimes, government rebates or incentives can lower the cost of solar batteries. These programs are meant to promote renewable energy, which can make a big difference in the final price.
Market Demand and Supply Chain: Prices can change based on supply and demand, as well as global supply chain problems. High demand or problems in manufacturing and shipping can lead to price increases.
Warranty and Support: Batteries with longer warranties or better support services often have higher upfront costs. However, these features can be valuable in the long run by ensuring reliable performance and support.
Understanding these factors can help when deciding on buying solar panel batteries in Australia.
Financing Solar Battery Installation
Investing in solar panel batteries can be a significant expense, but financing options can make it more manageable.
Here are some ways to finance the installation of a solar battery system:
- Government Incentives and Rebates: In many regions, federal or state governments offer rebates or incentives for solar battery installations. These programs can significantly reduce the upfront cost, making financing more affordable. Solar Victoria is one such government agency that provides rebates for solar battery installations to eligible households. They offer significant incentives, making it easier to invest in solar energy.
- Solar Loans: Many banks and financial institutions offer loans specifically for solar energy systems. These loans typically have lower interest rates than traditional loans and allow you to spread the cost over several years.
Programs like CEFC’s Solar Financing, and Green Loans offered by ANZ, Comm Bank, and Westpac are also some options for you to explore. These loans are specifically for green energy upgrades, such as solar battery systems, and often have favorable terms and support renewable energy adoption.
- Power Purchase Agreements (PPAs): With a PPA, a company installs and owns the solar battery system, and you agree to buy the energy it produces. This way, you avoid the upfront costs and instead pay for the power used, often at a lower rate than regular electricity. Outside Australia, this can be called a Solar-as-a-service model.
Is a Solar Battery Worth It?
Deciding if a solar battery is worth it depends on your specific situation and energy needs. For many people, the benefits of solar batteries are clear: they can reduce reliance on the grid, increase energy independence, and save money on electricity bills in the long run. They also provide backup power during outages, which can be important in areas with frequent power cuts.
While the upfront cost of solar batteries can be high, government rebates, incentives, and financing options can make them more affordable. Over time, savings on electricity bills and the potential to sell extra power back to the grid can help recover the initial cost. Plus, new technology keeps improving the efficiency and price of solar batteries, making them more accessible for homeowners and businesses.
Ultimately, a solar battery is worth it if it fits your energy goals, budget, and desire to use renewable energy. By researching your options and understanding the costs and benefits, you can make a decision that meets your financial and environmental goals.
At Ballarat Solar Company, we are Clean Energy Council Approved Solar Installers with over 20 years of experience. If you are looking for a solar battery system for your home and winding about solar panel battery costs, we can help you make the right choice and install the system for you.
Reach out to us today for more information and we would be happy to help. Call us at 03 5379 9806.
FAQs
What is a solar battery?
A solar battery stores extra energy made by your solar panels so you can use it later, like at night or during a power outage.
How much does a solar battery cost?
The cost depends on the size and type of battery. In Australia, prices can range from around $4,000 to over $26,000 for fully installed systems.
Can a solar battery save me money?
Yes, it can help you rely less on grid power. This can save you money in the long run, especially if you use government rebates and incentives.
How long do solar batteries last?
Solar batteries usually last between 5 to 15 years, depending on their type, quality, and usage.
Do I need an inverter to use a solar battery?
Yes, an inverter changes the stored energy into usable electricity for your home. Some systems have inverters built-in, but others need a separate one.
