Solar Batteries May Allow Households To Reap Profits from Surplus Energy
The feed-in tariff from excess power generated by solar panels is one of the great incentives for potential solar energy customers.
While solar panel owners are rightly rewarded for the extra energy they send back to the grid, they have little to no control in determining the price of that energy, nor when they decide to share it.
Imagine if you, as a solar owner, were able to pull all the strings – to store surplus solar energy in your own device and to sell it at a profit when demand is high.
Your home would be a practical energy generator, putting you in control of the distribution process while scoring you a pretty penny for your power in the process.
Well, that’s no pie in the sky prospect.
Recently, US electric car company Tesla announced its movement into the home battery storage market, offering re-chargeable lithium-ion battery packs that can store electricity generated from solar panels for later use when the sun isn’t shining.
That same technology will be taken a step further with some help from Australian start-up, Reposit Power. By integrating Reposit’s GridCredits technology, the duo aim to create a new breed of battery that turns households into electricity generators.
Owners would be able to access prices in the wholesale electricity market that can reach as high as $13 per Kilowatt-hour, 200 times the normal feed-in tariff they would expect to receive for the energy the would currently send back to the grid.
Consumers could buy power from the grid when it’s at its cheapest, consume their own solar power throughout the day, and sell back to the markets when prices spike, making a significant dent into (and in some cases potentially eliminating) power bills.
Storage systems could also benefit retailers by helping to modify demand and avoid the need for peaking power stations.
The technology is yet to hit shelves – we’ll be sure to provide you with more information as it becomes available.
Normally, solar power systems require additional accessories retrofitted in order to make them storage compatible. Our new range of hybrid inverters are storage ready, meaning you’re able to install storage batteries right away. By combining energy storage capabilities with your solar panels, you can take energy bill savings to the next level – store energy when it’s at its cheapest (during the day) and use it when it’s at its most expensive (at night)!
To find out how hybrid inverters can save your household money, contact Solargain to chat with one of our solar energy specialists.