What are the benefits of solar batteries?

If you’ve had rooftop solar installed on your house, or you’re planning to in the future, you may be considering whether it’s worth investing in a solar battery system.

According to the Australian Government’s Department of Climate Change, Energy, the Environment and Water, Australia has the highest uptake of solar globally, with around 30% of homes with rooftop solar at present.

Rooftop solar allows households to convert sunlight into electricity, avoiding the production of greenhouse gas emissions. However, rooftop solar panels only produce electricity during daylight hours, which means you may still need to rely on electricity from the grid after dark.

Unless, of course, you also have a solar battery system that allows you to store excess electricity for use after dark or on days when sunlight is minimal.

With rooftop solar installation likely to have already set you back thousands of dollars, it’s understandable that you’d want to explore the benefits of solar battery systems before investing in one.

Here are some of the key benefits that could potentially make a solar battery system a valuable investment for you:

1. Reduces your carbon footprint

Installing rooftop solar at home is an important step towards reducing your carbon footprint, but without battery storage, you’ll still be relying on electricity from the grid outside of daylight hours. Which isn’t ideal considering, for the average Australian family, the highest electricity consumption generally occurs in the evening.

Investing in a solar battery could allow you to further minimise your carbon footprint by increasing your self-reliance on your rooftop solar system.

2. Provides backup power

If you’ve got a solar battery storing excess electricity generated by your rooftop solar panels, then you’ll have a source of backup power in the event of a blackout. This can be particularly appealing to those who live in an area that is prone to regular power outages.

3. Can save you money over the long term

Solar batteries can be expensive to purchase, often costing several thousands of dollars. However, just like your rooftop solar panels, a solar battery has the potential to essentially pay for itself over time – and then some. By using your excess solar power stored by your solar battery in the evenings, you should see a noticeable difference on your electricity bills.

This can be especially beneficial if your utility provider charges a time of use tariff, as you could use your stored solar power to avoid being charged high rates for electricity use during peak periods.

You could also benefit from receiving a solar feed-in tariff for any unused electricity that’s sent back to the grid.

What to consider before investing in a solar battery

Buying a solar battery for your rooftop solar system can be a significant expense. And while it can offer plenty of benefits, it’s important to consider whether it may be advantageous to your personal circumstances.

How to finance the purchase of a solar battery

If you’re weighing up your options when it comes to financing the purchase of a solar battery system, a green personal loan could be worth considering. Many lenders offer green personal loans specifically for the purchase and/or installation of environmentally responsible products for your home, including rooftop solar and battery systems. This type of personal loan is often offered at a lower interest rate than standard personal loans, as lenders incentivise borrowers to prioritise sustainability.

Consider visiting RateCity’s green personal loan hub for more information and use our green personal loan comparison table to search and compare products that may be available to you.

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