The battery-storage market is in a technology boom phase with big players such as Samsung, Panasonic and Tesla set to launch new, cost efficient storage solutions.
Like with any technology boom, the initial buy in prices can be high. But as we have seen with solar, mobile phones and computers, the market demand drives production and unit costs down.
This is great news for Australian households, as homes with solar power may no longer have to pay for electricity from the grid for night time usage. Often our peak hours of electricity usage is when all family members are at home, which is also the most expensive time to purchase power from the grid. This is due to the ‘time of use’ meters installed and monitored by the electricity providers.
With the new technology for solar powered battery storage, high peak usage times will be covered by the power stored, allow for a reduction or complete eliminate of the house hold power bill.