Number of years to recover the cost of domestic battery storage systems
One of the first questions consumers should ask is
How long does it take for savings from the installation of a battery system to recover the costs?
Answering this question involves considering
• lifetime of the battery
• annual savings delivered by the system
• installed cost of the battery system
• lifetime of the electronics used in the battery system
Most of us have experienced the frustration of trying to using a 2 year old mobile phone where the battery only seems to last a couple of hours between recharges. In exactly the same way daily charging and discharging of a battery storage system reduces the Usable Capacity of the storage battery.
Annual savings delivered by the battery system decrease as the Usable Capacity decreases.
After 10 to 15 years Annual Savings decrease more rapidly as the Usable Capacity decreases more rapidly.
Lifetime of the Electronics
The Total System Cost should include the cost to repair / replace the high power electronics used in the battery charger and battery inverter after 10 to 15 years.
Comparing the Total System Cost to Total Savings reveals using current costs households never recover the cost of a battery storage system
Copyright of this article remains with Dr Martin Gill. All references to this article should include the author’s name and website www.drmartingill.com.au.
Comments or Questions?
The author is happy to receive comments or questions about this article. He can be contacted here