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Lithium Ion Solar Battery Price Analysis

Lithium Ion Solar Battery Price Analysis

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Do you have a plan to install a solar power system in your home? If so, how much do you know about batteries used in such systems?

Taking the step to use solar energy is a great way to invest in the safety of the planet. Going eco-friendly can make you feel proud of yourself in addition to saving a lot on electricity bills.

There is no doubt lithium based batteries are the best in the market. With more and more people adapting to solar based energy, the manufacture of lithium, more so lithium-ion batteries, has increased incredibly.

Li-ion solar batteries are famous for their power and long life-span. But that is not what makes many to buy them. In this article, we will help you discover whether or not it is worth investing in them.

How much does a lithium ion solar battery cost?

The biggest question many users ask themselves when looking at the prices for lithium solar batteries is whether or not their investment will break even. And if it will, how soon will it happen? Technically, it is the best metric to use when determining the price of the battery you are buying.

Today, it is not easy to say for sure how much you are going to spend buying the products. There are are a number of factors to put into consideration. These include:

· The manufacturer. With so many of them on the market, each comes up with marketing strategies to beat the competition. Most of them rely on reducing prices, especially when they are new.

· The capacity. Obviously, a Li-ion battery with a bigger capacity is expected to perform better. But that may not matter very much if its power rating is low. In a nutshell, a battery with a low capacity but high power rating will cost higher than one with high capacity low power.

· Size. Lithium-ion batteries for solar come different sizes. You can get them in small devices, as well as solar energy storage systems. The cost, in this case depends on the size. A solar battery holding 13.5kWh may cost up to $7000. However, Li-ion batteries are much cheaper.

· Using $ per kWh. The most effective way to determine cost is measuring the energy used per hour and comparing to set prices. For instance, most powerful batteries are sold at $400 to $750 per kWh. Such measure is dependent on the region you are in and the brand you chose.

With that in mind, are solar batteries cost effective? Well, one needs to compare the initial cost with the benefits if the investment is going to be of any use them. In this case, we are talking about recovering the cost of the whole system from the panels to the inverters.

At first, Li-ion batteries were very costly and unaffordable for many. But since 2010, the price has reduced by more than 80% making them affordable. As expected, this has increased their manufacture, putting them to the reach of the world.

Is it worth getting lithium ion solar batteries?

Let’s go back a step and look at the price of Li-ion batteries today. With more manufacturers coming up, promising better output, users can’t help but compare price with payback. How long will it take to get back what you put into the batteries?

If you bought a solar system minus the battery, you would probably get your money back in about four years. This depends on the system size, your personal use and how much you are getting from retailers in terms of excess energy.

If you have a house with a lot of power needs, the batteries will serve you better. Which means it will be worth the money you put in. The surplus energy can be used to power your house at night. This means, there is no need to put $7000 in a battery that you may never utilize fully. Simply put, it is a worthy investment only if you are generating enough energy to make it useful at all times.

So when is a  lithium ion battery really necessary?

Consider the following situations,

· When you are in an off-grid area. Living in a house without any local or state electricity connection grid can be difficult. You will be denies access to all goodies that come with having a reliable source of energy. In this case, solar energy seems a worthier investment. All you need is a good plan for unpredictable weather. It is a good think Li-ion batteries are long lasting.

· Hybrid solar systems. You can never find loss in such an investment. The system lets all energy consumption come from stored solar energy, reducing electricity costs.

Back to the question, is it worth getting lithium solar batteries? Yes, it is worth every investment you put in. It may take some time to get back the full value, but you will not even feel it if the batteries are serving you well.

Besides, Li-ion batteries are much cheaper and affordable today more than ever. There is a high chance you will never feel like you made a mistake. As long as you take your time to buy the system from a reliable source, you have no cause for worry.

What are the best batteries for solar power?

You have three choices of batteries that are most popular for home use. They include:

Lithium-ion batteries

It is among the latest technologies in the solar industry. They are light, and come in compact size. Though they are more costly compared to the ones we below, they have a longer life span and better Degree of DoD. They are definitely you best option.

Lead acid batteries

They are most common in off-grid systems. The only issue is that they have a very short lifespan and there DoD is much lower compared to Li-ion. But they are cheaper and a better option for lithium-ion batteries. You will need several of them to go completely off grid.

Saltwater batteries

This recent innovation is more eco-friendly as they don’t have any heavy material like the two options above. The technology uses salt as electrolyte, making them easy to recycle. But we don’t recommend using them because they have not been fully tested yet. They can be used for larger installations rather that small home use.

Lithium batteries are smaller, lighter and last longer. This makes them generally a great choice. However, for those running low on budget, they may not be very convenient. The other options mentioned above may still work for you.