Solar storage is fast becoming the most viable solution for Australia. The motivation to make the transformation to solar powered renewables is stacking up rapidly.
It stems from climate science continuing to force our society to face the reality of what we are doing to the planet. It stems from Australia being one of the 55 countries agreeing to the tenets of the Paris agreements. But most importantly for solar storage in Australia, it stems from the vast majority of government funded feed-in tariffs being shut down at the end of the year.
The scheme started in 2008 with the aim of giving Australians a boost to transition them over to solar. The idea was that any household with solar panels would be paid generously for any power they generated during the day and fed into the grid. This meant that by the time night arrived and the houses where switching on their lights and using their appliances to cook their meals, the power they were using had already been paid for by the solar power they had already generated. This scheme was highly effective as over 1.5 million Australian homes now have rooftop PV solar. In fact Queensland and South Australia have the highest penetration of domestic solar in the world.
However, as this scheme is dropped, the feed-in tariffs will fall significantly. Houses that were previously harvesting the benefits of the scheme will now find their energy bills markedly rising, or at the very least no longer making them money. It’s not the end of the world, however, as solar storage completely fixes this problem. With WattGrid battery system coupled with RedBack Technology’s Smart Hybrid Inverter, the solar power absorbed during the peak of the day, between 10 am and 1 pm, is stored until you need it. Integrated within this system is software that manages the WattGrid’s interactions with the grid ensuring that your house remains as close to a zero carbon footprint as possible.
Even buying this system outright is cost effective in the long term. A house with five people at average electricity consumption, would require 28 solar panels and 7.5 kw WattGrid battery system which would cost around $16, ooo. Assuming that electricity rates stays at its current price, this system would take around 12 years to completely pay off. This seems like a long time until you consider that a solar system with adequate maintenance is expected to last nearly 25 years. It also expected that during this time the price of electricity is expected to rise as weather events like the recent storms in South Australia become more common. We also anticipate that Australia will need to factor in the environmental impacts into the cost of electricity as we follow the requirements of the cop21 Paris agreements.
Also on the horizon is the implementation of Blockchain technology that will make it possible to allow neighbourhoods to effectively and efficiently share power. Blockchain intelligently manages multiple trading agreements between households, tracking who produces the power and who is using it on an energy ledger. This allows the creation of peer-to-peer network of communities that can rely on one another for clean and renewable, below market cost energy.
Increasingly, there are some very hopeful trends across the planet with cop21agreement coming into affect and many great institutions leading the way in divesting from fossil fuels. So while Australia is suffering from reduced solar subsidies, its certainly is a bright future for renewables. Call AllGrid today on 1300 477 778 to ask us how you can self-fund your system off a $5,000 deposit !