SOLAR AND BATTERY STORAGE 2023
/Solar and Battery Storage…
A winning combination…..
Read Time: 5 minutes:
Highlights:
Solar panels with battery storage can diminish your electricity bills completely.
Claim unto 30% tax credit on investments in hybrid solar-battery systems.
Sell electricity back to the grid during peak rate hours to enhance savings.
Battery storage ensures continuous electricity supply during blackouts or storms.
Battery-solar combination will reduce your carbon emission even further.
Keywords: Battery storage, Solar Battery, PV battery, hybrid solar battery system
Solar energy impact
People are rapidly embracing solar energy systems because they are easy to install, low-cost, and noise free. Solar energy systems produce minimum carbon among renewables, and rooftop systems occupy no space. Their ability to generate free electricity significantly circumvents the bills and has the potential to become a long-lasting and clean source for future generations. According to U.S. Energy Information Administration (EIA), an average household consumes around 886kWh per month. Switching fossil oil-produced electricity to solar electricity will prevent 35kg per month of Carbon emission into the atmosphere (Greenhouse Gas Emissions from Solar Photovoltaics, NREL). These features are more than enough to invest in the solar energy system. However, the sun does not shine brightly during cloudy days, and stormy weather causes solar intermittencies. We cannot harvest photovoltaic (PV) energy during the night. No supply during low sunshine and long night hours makes solar energy unreliable. But the good news is we can resolve these issues with modern storage batteries.
The need for battery storage with a solar energy system
Hybridizing solar panels with battery storage significantly reduce electricity bills, mitigates greenhouse gases, and provides independence from utility power. It is a winning combination for domestic customers who can independently generate, store, sell and control free solar energy dispersing on their roofs. One of the significant advantages of battery storage is energy security. Now the user is assured about the availability of a backup energy source during grid outages. Battery storage enables the user to choose how much and how long solar energy harvesting is needed to run the premises. The control flexibility even allows selling electricity back to the grid during peak hours at higher price slabs. Also, ever-changing utility company policies like peak hours timing, nonuniform unit kWh price, etc., will not affect your business as your battery backup provides your energy needs in peak hours and even without the sun.
Battery add intelligence to the solar energy system
Investing in battery storage adds intelligence to the solar energy system. The user can manage and regulate the incoming solar energy and the outgoing electricity. The battery storage and energy management software (EMS) optimally keep the system at maximum efficiency and also optimizes the cost. Some of the intelligent solar battery hybrid systems include “Powerwall | Tesla”, “sonnenBatterie | sonnen (sonnengroup.com)”, “Enphase Enpower Smart Switch” etc.
Solar investment tax credit
The Federal Government passed an enticing regulation for solar energy users on 16th August 2022. The law is called the Inflation Reduction Act (2022), which states that domestic and business users who invest in solar energy and storage systems between 2022 to 2033 can claim a federal tax credit of up to 30% of their total investment, including the cost of solar components, installation charges, and maintenance costs (The role of solar in the Inflation Reduction Act) . The solar investment tax credit (ITC) will attract many customers to reap the benefits of solar energy systems.
Limitation and operating cost
We have a vast experience in solar battery hybridization and have successfully implemented efficient energy management for many clients. However, before embarking on solar battery storage, let us guide you through the benefits and limitations of battery storage. Some general guidelines are given below.
Cost
Although battery prices have been considerably reduced recently, battery cost holds a leading place in the total solar energy system cost. As the technology progresses, the chance of battery faults is trending low. However, occasionally single or multiple cells in the batteries may break down and need replacement. Therefore, the user has to bear some operating costs too.
Load evaluation
Not all loads can run on batteries, and the load at your premises needs expert evaluation. Similarly, the leverage of the batteries utilization in net metering, peak times, and Time-of-Use must also be evaluated by the experts to maximize your savings.
Conclusion
Electricity consumption is rapidly increasing, and even a minor interruption may cause losses and nuisance to the user. Therefore, when designing the solar energy system, energy security and reliability can be ensured with suitable battery storage. During peak sun hours, the excess energy from solar PV modules is stored in the batteries. The batteries are always available in standby modes ensuring uninterrupted power to the designated load. The battery energy management enables the net metering at an appropriate time, thus achieving maximum savings. Also, batteries are quite a handful for long outages during stormy weather and scheduled utility shut down for maintenance. Finally, the solar-batter investment will also help reduce fossil fuel-produced electricity, thus contracting carbon footprint. Let us help bring you peace of mind while making informed decisions about your solar battery hybrid investment.