Storing electricity generated during the day for use overnight could save householders one quarter of their electricity bill, an article in New Economy claims this week. The exact saving depends on the level of government rebates and electricity charges and feed in payments. Both storage and generation solutions for domestic electricity continue to develop rapidly with a wide range of batteries available for the home and new photovoltaic roof tiles from Tesla, that make the entire roof a giant electric cell. Solar providers have been claiming for some time that the cost of local generation would eventually drop below that of the grid. That point has been reached.
How battery storage can cut home electricity bills by one quarter
The combination of PV+battery+grid is $123 per year cheaper than the cheapest grid-only offer ($1,645 per year) and $449 lower than the median grid-only offer. In other words, our typical 4,800 kWh household can beat all contemporary grid-only offers by installing a PV+battery system and selecting the best retail offer to provide their residual grid consumption and to export their PV production surplus.