Solar batteries are becoming more affordable every year. The cost of lithium-ion batteries, which are the most common type of solar battery, has fallen by about 80% over the past decade. This is due to a number of factors, including increased production and competition, as well as technological advancements.
The cost of solar batteries is expected to continue to fall in the coming years. According to a report by the Solar Energy Industries Association (USA-based), the average cost of a solar battery system is expected to drop below US$1,000 per kilowatt-hour by 2030. This would make solar batteries a more affordable option for many homeowners.
There are a number of factors that could contribute to the further decline in the cost of solar batteries:
1. Increased Demand for Solar Batteries
As more and more people install solar power systems, the demand for solar batteries is also increasing. This will drive down prices as manufacturers compete for market share.
2. Tech Advancements & Breakthroughs in Solar
Battery technology is constantly evolving, and new innovations could lead to even lower costs.
For example, solid-state batteries are a promising new technology that could be more efficient and less expensive than lithium-ion batteries.
3. Government Incentives
Governments around the world are offering incentives to encourage the adoption of solar batteries. These incentives can help to lower the upfront cost of a solar battery system.
WA Government Incentives
Here’s what’s currently available in Western Australia:
- National solar subsidy – applicable to any system size, but as an example is worth around $2,600 on a 6.6kW system in 2023. When you see prices advertised for solar systems, this up-front discount is already factored in.
Overall, the trend is clear: solar batteries are becoming more affordable. Great news for homeowners who want to save money on their energy bills and reduce their reliance on the grid.
Into the future . . .
- The cost of solar panels
The cost of panels is also declining, and this will help to make solar batteries more affordable. - The cost of installation
The cost of installing solar batteries is declining, sothis will help to make them more affordable. - The availability of government incentives
Government incentives (see WA below) help to make solar batteries more affordable by reducing the upfront cost. - The demand for solar batteries
If the demand for solar batteries increases, this will help to drive down prices.
WA Government Incentives
Here’s what’s currently available in Western Australia:
- National solar subsidy – applicable to any system size, but as an example is worth around $2,600 on a 6.6kW system in 2023. When you see prices advertised for solar systems, this up-front discount is already factored in.
