EGP’s primary goal is providing business sound, real-time advice to achieve energy profit and freedom.
There is no doubt battery technology is the way of the future, however in this instance we highly recommend you wait a little while longer.
With payback periods exceeding product warranties, the timing of your investment is critical. That being said, pricing is rapidly declining and your opportunity to retrofit a battery system to your home or business will soon be a financially viable option.
The payback time for a solar and storage system can be 10 years or more, but the situation is constantly evolving.
Predictions are that the average cost of an installed 7kWh battery storage system will fall from about $10,000 now to just over $5000 in 2018.
Battery storage pricing (especially for lithium-ion) currently sits at around $1000-2000 per kWh of capacity and will become an attractive investment for most people once it starts to hit the $250-500 per kWh mark – which is still a few years off. Watch this space…