Photo voltaic Alternative has beforehand been publishing common photo voltaic PV system costs on a month-to-month foundation since August 2012 in our Photo voltaic Panel Value Index, which targeted on family photo voltaic costs and which in the end turned the Photo voltaic Alternative Value Index. In Might of 2014, we added our Business Photo voltaic Value Index for bigger system sizes, and in 2017 we launched this Dwelling Battery Storage Value Index.
Common out-of-pocket battery set up costs – August 2022
The desk beneath shows common, indicative battery set up costs from a spread of installers round Australia, most of whom are lively within the Photo voltaic Alternative community. Costs embrace set up and GST.
Common Photo voltaic Battery System Prices (Absolutely Put in) – August 2022 |
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| Battery Dimension | Battery Solely Value* | Battery + Inverter/Charger** |
| 3kWh | $4,620 | $5,250 |
| 8kWh | $10,000 | $11,280 |
| 13kWh | $13,520 | $14,430 |
| 18kWh | $18,360 | $19,800 |
| *Contains the set up of the battery solely. You will need to have already got a hybrid/battery prepared system
**Contains a further inverter to handle the battery financial institution for a DC-coupled battery system |
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Additional data, assumptions & explanations (click on to increase) ▼
Common battery set up costs – August 2022
| Battery capability vary | Put in value per kWh capability | Value per kWh throughput (complete cycle life) | Value per kWh throughput (1 cycle per day) |
| 1-5 kWh | $1,540 | $0.30 | $0.39 |
| 6-10 kWh | $1,250 | $0.24 | $0.29 |
| 11-15kWh | $1,040 | $0.23 | $0.29 |
| 16-20kWh | $1,020 | $0.22 | $0.30 |
| All | $1,210 | $0.25 | $0.32 |
On this desk we attempt to take a holistic strategy to representing battery worth. When evaluating battery methods, individuals within the trade sometimes communicate when it comes to ‘{dollars} per kilowatt-hour’ ($/kWh) of storage capability. That is a straightforward shortcut for discussing battery worth (which is why we’ve included it), however doesn’t inform the total story as totally different batteries can tolerate totally different ranges of use. For instance, some batteries might solely be charged/discharged (‘cycled’) as soon as each day, whereas others can by cycled as much as 2.7x per day (see: sonnen) with out voiding the guarantee.
To this finish, we’ve additionally included figures on ‘vitality throughput‘. The vitality throughput metric provides you an thought of how a lot you’ll pay for every kWh of vitality that you just move via the battery over its lifespan.
We’ve checked out two situations:
- If you happen to cycle the battery as many occasions as its cycle life will permit per day (complete cycle life), or
- If you happen to cycle it solely as soon as per day (which is the extra reasonable situation since most properties will cost their batteries solely with the solar and never with the grid – c.f. tariff arbitrage).
As famous within the footnotes of the picture above, these figures are extremely indicative and are meant to function a way of comparability between battery merchandise – they don’t have in mind battery degradation or effectivity.
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The ‘Are we there but?’ Meter(s)
Regardless of their rising recognition, the overwhelming majority of the virtually 2 million households with photo voltaic panels in Australia wouldn’t have batteries. As battery know-how prices fall, battery storage will change into extra financially enticing and the variety of battery installations will improve.
The ‘Are we there but?’ Meter (the charts beneath) gauge the general attractiveness of residence battery storage in Australia – for each households contemplating a model new solar-plus-storage system in addition to these taking a look at a doable battery retrofit.
We take a look at the nationwide ‘low finish’ battery costs for moderately-sized (5kWh & 10kWh) battery methods (not a particular product, however extra an amalgamation of assorted merchandise that we’ve seen) and see how the estimated payback intervals stack up in opposition to a theoretical ‘ideally suited’ payback interval of seven years; we see this 7 yr mark as being an affordable signifier of the battery market being the place it must be to make sense for many households (the ‘there’ in ‘are we there but?’).
IMPORTANT: Extra about battery costs & payback intervals (click on to increase) ▼
So is battery storage there but?
1. Battery plus inverter – (Related for properties enterprise a full battery retrofit or a brand new photo voltaic & storage system with two inverters)
At $800-$900/kWh for methods on the ‘low’ finish of the value spectrum, and with payback intervals approaching 10 years in the precise mixtures of circumstances, we’re shut sufficient for plenty of Australians to justify investing in a battery retrofit, however not but within the territory of ‘mass attraction’.
Observe that this month we up to date the electrical energy value particulars we use in our modelling, which has modified the outcomes past simply the battery value actions.
Additionally keep in mind that this chart is supposed to mirror the nationwide state of affairs as an amalgamated entire – your particular person state of affairs (together with the state you reside in, the quantity you pay for electrical energy & the deal you get on a battery system) could also be conducive to a shorter payback interval, so we encourage you to look into it for your self.
(You will get battery system pricing by requesting a Quote Comparability via our system. You may consider battery viability in your state of affairs utilizing our Photo voltaic & Battery Storage Sizing & Payback Estimator Device.)
‘Full’ battery-plus-inverter system set up costs vs common payback intervals throughout two battery measurement classes (5kWh and 10kWh). Observe that the bottom value on a 5kWh battery measurement class providing is already beneath the $7,000 affordability threshold. Click on to enlarge.
2. Batteries solely – (Related for properties buying a model new photo voltaic+storage system with hybrid/battery-ready inverter, or retrofitting batteries to a battery with a hybrid/battery-ready inverter)
Costs for ‘battery solely’ installations didn’t change this month as considerably as they did for battery+inverter methods, however the state of affairs stays the identical as earlier months: For anybody out there for a model new photo voltaic system, it might be worthwhile to tack on a small or medium-sized battery financial institution whilst you’re at it, judging by this month’s knowledge. A 5kW photo voltaic system plus (roughly) 5kWh battery financial institution might value as little as $10,000, relying on the place you reside and which merchandise you go together with. A system of this measurement at this value would allow most households to dramatically scale back their electrical energy payments, would ship an affordable return and would permit for a decent diploma of vitality independence (presumably together with some emergency blackout safety).
‘Battery solely’ pricing vs payback intervals throughout two battery measurement classes (5kWh and 10kWh).
About this knowledge
Photo voltaic Alternative’s Battery Storage Value Index is the companion to our Photo voltaic PV Value Index, which covers photo voltaic system set up costs round Australia. The purpose of the Battery Storage Value Index is to help buyers in getting a grip on this comparatively new market and assess whether or not batteries are value their whereas.
Tables and charts included on this article have been compiled utilizing knowledge from Photo voltaic Alternative’s installer community database (in addition to a few exterior sources), which incorporates regularly-updated pricing and product particulars from over 100 photo voltaic & battery set up corporations throughout Australia. Costs don’t ordinarily incorporate meter set up charges or further prices for tough installations.
Since 2008 our information and complicated software program has allowed over 180,000 Australian households and companies to make a well-informed selection on their photo voltaic & battery installer.
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