Everything you need to know about the new storage batteries and feed in tariffs
Albeit a while ago, you may remember us discussing the Victorian State Government’s earlier change to the feed in tariffs, removing all regulatory pricing and leaving it up to the power companies what to charge. The change effectively ended the era of stacking panels upon panels on your roof to maximise a profit, particularly hurting those that had invested in commercial solar panels in the first place.
If you adhered to our recommendations regarding maximising your output to at least get value back for the money invested, you may want to stop right now and read this article. The development of the long awaited solar storage battery has been announced, and, in conjunction with a fantastic new Australian innovation, feeding excess power back into the grid is once again viable.
Storage battery announcement
The new battery, essentially the first non-lead based battery storage created for properties, is designed to be integrated into solar panels. Despite the fact that an inverter has not been provided by the company (the cell operates on alternating current, rather than the direct current in businesses and homes), it signifies how quickly solar based technology is progressing.
The cell itself is able to hold up to 7 kWh, and when coupled with an inverter, will be capable of supplying around 30% of the average household’s power usage per day. Whilst not being the news that those looking to go off the grid were hoping for, it will still lead to lower solar panel prices, as the additional technology will make PV panels more accessible to a larger portion of the market.
What this means for feed in tariffs
Current tariffs are sitting around six to eight cents per kWh fed back into the grid, substantially down from this time last year, where they were sixteen cents per kWh on average. Whilst these prices are low, there is hope for those who are looking to invest in the new storage cell, and for those who have already invested in a lead based battery. The best news, however, is that it’s an Australian led innovation that has now made feeding power into the grid viable once again.
There is now software available, supporting all battery storage units, which connects you to the National Electricity Market. The NEM is essentially a wholesale market, benefiting businesses and residents in Queensland, New South Wales, South Australia, Tasmania, and – most importantly – Victoria. The NEM bases its feed in prices based on the amount of average, required energy needed within 5 minute intervals – itself an average score of capacity and necessity.
Connection to the NEM can potentially represent a huge financial windfall for businesses who have the existing infrastructure from when the Government regulated tariffs were higher. Given that the NEM follows required energy outputs, should this demand ever be high, the wholesale feed in price will be substantially high, and has been as high as $13.50 per kWh. These developments have made the decision to buy the best solar panels even more popular than ever before.
At Think Solar, as one of the leading and experienced providers of solar panels for sale, we are more than happy to directly consult with you regarding any decision to buy solar panels for future feed in usage. We also specialise in the professional and efficient installation of residential solar panels, and can provide you with unbeatable solar quotes regarding our high quality PV solar panels.
Talk to a member of our knowledgeable and friendly team today on 1300 680 951, and let us get you started with your very own solar panel system.