It’s been forever since Australia is facing the critical issue of energy price hikes. In order to aid that wound, the government is also trying to compensate with several schemes, encouraging common people to switch to renewable energy sources. But there’s always a new level of reach to up our savings; getting solar batteries is one of them. They help you store energy from the grid or from your renewable sources so that you can enjoy higher savings at a lower price point & reduce your carbon footprint simultaneously.
Still, you have to consider how expensive these batteries are and calculate your ROI to see if they are worth the investment. In this article, I am going to address the adjacent factors to help you make an informed and sound decision.
Why Should You Get Batteries? Are Batteries Improving?
Before I answer why you should consider getting solar batteries, allow me to elaborate on how they have been improving over the past decade.
Yes, lithium ion batteries (the most common type used for solar energy storage) are improving, in terms of capacity, energy density, life-cycle, etc.. Also, increases in the amount of energy they can store have been on the rise of 5% per annum. That implies your present batteries have a capacity that is more than 1.5 times that of a decade ago. The new and improved batteries allow you to enjoy their benefits in a convenient space, and there has been significant improvement in thermal management that needs to get addressed.
Even better news for you because Australia is the world’s largest producer and exporter of lithium. Sure enough, there is reason for you to be hopeful; however, most of the raw material gets exported, but there are companies like sonnenBatterie who’re utilizing such blessings to make batteries a little more accessible to you.
With a significant rise of the energy prices, common people are opting for a renewable source of energy which is the smartest move to make here. But to take that up a notch, batteries are important. In comparison to the low feed-in-tariff, only allowed in certain states, it’s definitely beneficial to store the surplus at your disposal, generated by your solar panels.
Also, using the grid power to charge up your batteries to use at night when the unit price is high is a good option. But I completely understand if you are questioning getting solar batteries because of the high upfront cost, which makes you wonder if they are worth the investment.
Sourcing lithium, which is apparent that it is the main ingredient of lithium batteries, has not been a simple path. The cost at which this has to be sourced, especially a greener way of doing so, is not easy to manage, and scientists all around the globe have been looking for greener options.
So, to tell you the truth, there is no black and white answer to this question if you should consider getting solar batteries. Consider the above-mentioned factors and get to know your energy usage pattern in detail first. Then evaluate if getting an expensive solar battery is worth it or not.
Are Batteries Made in Australia?
There are only a few companies which are currently manufacturing in Australia. Companies like Century Yuasa Batteries Pty Ltd, Sonnen Australia Pty Limited, Enersys Australia Pty Ltd, Exide Technologies, Robert Bosch (Australia) Pty Ltd are the key players in the Australian battery market. But Australia has so much more potential when it comes to this sector. There are strong barriers as well to be addressed, which are a lacking supply chain, negative environmental impact, high labor cost, etc.
Lithium is produced and exported in considerable quantities in Australia. It is the most significant component in the production of energy storage and electric car batteries. However, the majority of the lithium is shipped as spodumene concentrate, which must be processed further to use them at all. Several Australian mining corporations are collaborating with international businesses to commercialize lithium extraction and improve operations in Australia, with the goal of producing battery-grade lithium.
As the worldwide focus on ethically and sustainably produced minerals heats up, Australian firms are increasingly looking at how to recover resources for battery storage. A number of Australian organisations are moving forward with promising proposals ranging from recovering storage materials from tailings (basically mining waste) to developing scalable, efficient, and ecological recycling techniques, as well as low-emission lithium extraction.
Governments Initiatives to Make Battery Installation Easier for You
What if I told you there is an ongoing rebate on solar batteries to end all the debate at once about them being expensive? Yes, there is an ongoing rebate for the Victorians on solar battery installation upon meeting specific criteria. If you are a Victorian, then you can enjoy a $3500 solar home rebate on top of all the savings that you’ll be getting through your existing solar panels.
Lily D’Ambrosio, the Minister for Solar Homes, stated the government’s amendments mean consumers won’t have to wait until they have solar panels installed to get the battery incentive.
Over 4,000 Victorians have already taken advantage of the excellent opportunity. This government project is worth over $1.3 billion, revolutionizing the solar battery storage game for the foreseeable future of the Victorians. Nevertheless, I must give you a much-needed reminder that this rebate is not going to last forever.
Also, there is a strict benchmark set by the government that you have to reach before being eligible to enjoy this golden opportunity. Click HERE to know how you can be eligible for this rebate.
“This change will make it easier for more households to reap the benefits of combining a battery with solar PV as part of their home energy system.”
– Lily D’Ambrosio, Minister, Solar Homes.
Fret not, my fellow Welshmen; there are amazing opportunities for you too. The NSW government is not falling behind in serving their people because they also have introduced an interest-free loan facility of up to $14,000 for a PV and battery combo and up to $9000 for home battery installation with an existing PV system. In both cases, the interest-free loan is repayable in over a range of terms up to 8 & 9 years, respectively. To know if you are eligible to benefit from this scheme, follow this LINK.
On that note, a key point should be addressed that we should not be stuck in myopia. Not only installation benefits but also to help the Australian battery industry reach its true potential, the government has to encourage and support it in every shape and form.
To this date, Australia is focusing strongly on mining rather than manufacturing batteries due to lack of expertise, higher cost, lack of incentives, and proper supply chain infrastructure. Grid-scale battery deployment has received considerable backing from the Federal Government’s primary renewable finance entities, ARENA (Australian Renewable Energy Agency) and the CEFC (Clean Energy Finance Corporation). Lithium mining initiatives have also been sponsored by the CEFC. However, they have not made the midstream industry a priority.
By 2030 Battery Industry Could Add 34,700 jobs for Aussies
In these trying times, after the whole world has been severely hit by the pandemic, the battery industry can help save thousands of lives by creating more jobs. In a recent report, it was shown that the battery industry of Australia has the potential to add $1.3 billion to our GDP. This magnificent growth comes only from mining the raw materials, which are abundant in our lands. If we take advantage of our fortunate situation and start manufacturing, then $7.4 million in gross value can be successfully added to the economy.
What Does the Future Hold for Solar Batteries?
The future of solar batteries is shining bright, like a diamond, just like Rihanna once said! LOL. All jokes aside, there is a latent demand for it. Thus scientists are researching for a better and economical way to tackle the rising demand. Sure enough, we are heading towards a future where people will opt for renewable sources of energy more. And when the switch happens, we will be in a place where batteries will hopefully be accessible to the mass.
