You want to go greener, but you haven’t gone the whole hog yet and covered your roof in solar panels. You’ve heard about battery storage systems, but aren’t sure if they are economically viable without being part of a complete solar system. Well, while batteries are an excellent addition to solar panels, storing excess solar energy and using it when the panels are unable to operate, you CAN still save money with battery storage alone. So, dip your big toe into the world of renewable energy and read on to discover how installing a battery storage system can save you money without the need for an entire elevation of panels.
Which battery is right for me?
There are an array of choices available which include Tesla Powerwall, SolarEdge, Huawei Luna, MyEnergi Libbi and GivEnergy. As experts in battery installations, Carter Renewables will identify the best options for the specific need considering items such as capacity, cost, efficiency and life expectancy.
So how can I save money without solar panels?
1. Time-of-Use (TOU) Tariffs
In areas where utilities charge different rates for electricity at different times of the day (TOU tariffs), battery storage systems can store energy during off-peak hours when electricity is cheaper and then use it during peak hours when electricity rates are higher. This load shifting can significantly reduce electricity bills. Read more about TOU tariffs from the Energy Saving Trust.
2. Demand Charges
For commercial and industrial customers, a significant portion of the electricity bill can come from demand charges, which are fees based on the highest rate of electricity usage during a billing period. Battery storage systems can help reduce these demand charges by discharging stored energy during periods of high demand, thus lowering the peak usage.
3. Backup Power
While not directly a money-saving feature, having a battery storage system can provide backup power during outages, which can be invaluable for avoiding productivity losses or spoilage in businesses, and discomfort or disruptions in residential settings. Have peace of mind that in these situations, your battery storage system has got your back! This happened recently at Carter Renewables HQ, where our trusty Tesla Powerwall stepped up to the fore after a power cut (below).
4. Incentives and Rebates
Various regions offer incentives and rebates for installing battery storage systems, which can offset the initial cost and make the investment more attractive. In December 2023, the UK government introduced VAT relief on the installation of battery storage systems.
What else do I have to consider before installation?
While battery storage systems without solar panels can save money in the long run, the savings depend on the specific circumstances, including local electricity rates, any differences between peak and off-peak rates, the initial cost of the technology and installation, as well as ongoing maintenance, and individual usage patterns.
Contact us today to analyse your energy usage and help advise you on the best battery storage system for your needs and lifestyle (and perhaps convince you to cover one side of your roof in solar panels too).