Battery Storage Costs & Savings

Example Battery Storage Savings

While solar panels alone provide substantial savings on your energy bills, you can save even more by storing excess energy in a battery, reducing your reliance on the grid. Additionally, even without solar panels, significant savings can be achieved by charging your battery at cheaper night rates and using that energy during the day.

Here’s how it works: During the day, your solar panels charge your battery with free, renewable energy. Every kilowatt-hour (kWh) of energy used from your battery can save you an average of 30p (your energy supplier’s unit rate), compared to buying that energy from the grid. This means lower costs and increased energy efficiency, making battery storage a smart addition to your home energy system.

Assumptions:

Unit Rate: £0.30/kWh

Night Rate: £0.07/kWh

Battery Usable Capacity: 15.66 kWh

Savings Breakdown with Solar:

Typical Charging: 60% from excess solar, 40% from the grid at night

Annual Savings from Using Solar Power: £1,028.86

Calculation: (15.66 kWh * 60% * £0.30/kWh) * 365

Annual Savings from Night Rate Charging: £514.43

Calculation: (15.66 kWh * 40% * (£0.30/kWh – £0.07/kWh)) * 365

Total Annual Savings with Solar: £1,543.29

Savings Breakdown without Solar:

Even if you don’t have solar panels, you can still benefit from a battery storage system by charging your battery at the lower night rate and using the stored energy during the day when rates are higher.

Annual Savings from Night Rate Charging Alone: £1,300.89

Calculation: (15.66 kWh * (£0.30/kWh – £0.07/kWh)) * 365

Total Potential Annual Savings:

With Solar: £1,543.29

Without Solar: £1,300.89

Investing in a battery storage system can significantly increase your energy independence and boost your savings, making it a smart choice whether or not you have solar panels.