Thinking of investing in a solar battery storage? Thinking of going offgrid? Thinking of PowerWall, perhaps?
If you are in Perth and looking to buy a brand new 5kW solar system with a 6kWh powerWall, you would be looking at investing in the range of $20,000. Isn’t that prohibitively high? Compare that to a standard 5kW system without battery which can be installed for under $6000. It’s just not about the power wall alone, but the cost of its currently only compatible inverter (single phase) – the Solar Edge.
So you end up paying a massive $14,000 extra for this opportunity to store 6 units of solar power per day.
6 units of power is currently worth about 6units *27.6 cents = $1.65 per day saving. (27.6 cents is currently what most residential customers pay Synergy)
Yearly saving from the PowerWall stored energy = $1.65 x 365 = $602 per year
Time it will take to recover your investment in a PowerWall = $14,000/602 = 23 years
Yes it will take 23 years!!
If you are thinking of investing in a Power wall very soon, think again.