Category:
In the current climate, solar panels and batteries are becoming a popular solution for homeowners to save money on rising energy bills. But what exactly is a home battery, why is it important and do you really need one with your solar panel installation? Keep reading as we answer all your burning questions.
✓ A 10kWh solar battery system can produce 30kWh per day.
✓ A home battery helps you store the energy you generate for later use.
✓ You can get a positive ROI within just a few years with a home battery system.
The cost of solar panel batteries can vary based on several factors, including the type of solar batteries, battery capacity and installation expenses.
Various economic factors can affect the cost of batteries for solar panels. Fluctuating prices of raw materials like lithium, cobal and nickel in lithium-ion solar batteries affect the overall cost of production. Market trends, such as disruptions in the supply chain, like during the COVID-19 pandemic, can lead to fluctuating solar battery prices, while continuous upgrades in technology tend to drive prices down over time.
Visit our comprehensive guide on solar panel batteries for more detailed information.
The overall cost of a solar battery is tied to the manufacturer’s production costs, profit margins and pricing strategies. Leading manufacturers like Tesla or Enphase can leverage economies of scale to optimise production costs and offer competitive pricing. Profit margins affect the final price, with higher margins often associated with advanced technologies and brand recognition. Manufacturers’ pricing strategies are influenced by market competition, demand and the perceived value of their products. For example, Enphase positions itself as a premium brand with higher pricing, while companies like BYD may focus on affordability to capture a broader market.
Learn more about our solar panels.
The average cost of solar batteries can vary based on solar battery types and capacities. Lithium-ion batteries are the more popular modern choice. The cost varies according to battery capacities, with larger-capacity batteries generally costing less per kWh.
So what about the average pricing for different Solar Battery Capacities? The solar battery cost (without installation) varies depending on the solar battery capacity:
Small (5 kWh) | £3,500 – £5,000
Medium (10 kWh) | £5,000 – £7,500
Large (20 kWh) | £10,000 – £12,500
The two most common types of solar batteries include lithium-ion and lead-acid. They have different characteristics that affect their price, lifespan and overall value for money.
Lithium-ion batteries’ advanced technologies and materials cost more to manufacture than traditional solar battery types. However, advances in technology and economies of scale have been gradually reducing these costs. Of the two solar battery types, lithium-ion has a longer lifespan with lower replacement costs and little maintenance. Lead-acid batteries are cheaper to manufacture, but the limited cycle life may require more frequent replacements. Regular checks, topping up water and managing the charging and discharging processes are necessary to ensure optimal performance and can contribute to additional costs.
While the initial cost of lithium-ion batteries may be higher, the potential for a longer life and lower maintenance expenses can make them a cost-effective choice over the system’s lifetime. What’s more, the price for lithium is expected to continue to decline in 2024, and with it the price of batteries. This will make solar batteries much more affordable for the consumer market.
Cost Breakdown of Lithium-Ion and Lead-Acid Solar Batteries
We take a closer look at the cost breakdown of a solar battery:
To calculate the overall cost for a solar battery system, you need to consider the cost of the solar batteries along with installation charges. Here’s a quick guide:
Use this calculator to get a better estimation of your solar battery system costs.
A solar battery bank acts as a reservoir to store surplus energy generated by solar panels. Comprising interconnected batteries, an inverter and a charge controller, the battery bank allows you to harness solar energy during periods of sunlight and use it even when the sun isn’t shining.
Explore our selection of solar battery banks and find the right fit for your system.
The cost factors of solar storage include:
Modern solar battery storage systems, generally lithium ion, have low maintenance requirements. You’ll need to check the battery routinely, update firmware and ensure proper ventilation. While rare, potential repair costs can occur due to component failures or battery degradation over time. Manufacturers typically offer warranties covering defects, degradation and overall performance. Longer warranties extending beyond a decade (like the one offered at Soly) show the manufacturer’s confidence in the durability of the product. Solar battery storage with longer warranties and after-sales support may have slightly higher upfront costs but can provide added peace of mind.
Investing in a solar system is a big investment, so choosing products and installers with good warranties is very important. A robust warranty can instill confidence in the product’s durability and performance. Solar batteries typically come with a product warranty, but if you’re installing a battery as part of a larger solar system, you may be offered two main warranties:
Product warranties cover the battery for a time period during which they will repair or replace the battery at no extra cost. Most battery warranties in the UK last for 10 years. Soly offers an industry-leading 15 year warranty, using the most advanced technology from Enphase.
If you install a battery as part of a larger solar system, performance guarantees provide assurance for a specified period, such as 10 to 25 years. This ensures that the system maintains a certain level of efficiency throughout the warranty period. If the panels fall below this, the manufacturer will repair or replace the underperforming panels. Soly offers an industry-leading 25-year performance guarantee and a 10-year workmanship warranty on installation.
There are additional costs to consider with solar battery installation, including labour, permits and potential upgrades to your home energy system.
The costs associated with additional equipment for a home energy system, particularly when integrating batteries, can vary based on the size of the system and the type and capacity of the batteries. Here’s an overview:
Discover the benefits of solar panels and a battery.
When integrating solar batteries into an existing home energy system, you may need to make several upgrades to ensure optimal performance. You may need to install a compatible inverter that’s capable of managing solar power and home energy storage. Depending on the existing electrical panel’s capacity, you may need to upgrade the panel to accommodate the increased load.
Additionally, if your current solar panel array is unable to meet the increased energy demand or isn’t compatible with the batteries, you may need to expand or upgrade your panels. The costs associated with these upgrades can vary significantly, from hundreds to thousands of pounds. To get an accurate idea of costs, consult our Soly renewable energy experts for a personalised quote.
The cost of a battery depends on the battery type, capacity and other factors. Generally speaking, the higher the capacity of the solar power battery (the more energy a solar battery can store), the more you can expect to pay. In the UK, a 10kWh solar battery system could cost £4,000 to £22,000 or more, depending on whether you’re paying for the battery alone or the a full solar system which includes the installation and other components. We recommend getting quotes from reputable solar energy providers to get a more accurate estimate based on your specific requirements.
LINE GRAPH RIGHT HERE
Let’s say you decide to invest in a 10kWh solar battery system to reduce electricity bills and increase energy independence. The initial investment includes solar panels, a 10kWh battery, an inverter and installation which costs you £20,000. A well-designed 10kWh solar system could generate an average of 30 kWh per day.
Assuming a conservative estimate of 70% self-consumption, you could save £800 per year on electricity. The payback period is around 25 years. Over the 25-year lifespan of the system, you could save £20,000 to £25,000 on electricity bills. The ROI, in this case, would be 100% to 125%.
This is without taking into account any government incentives, tax credits or electricity price hikes that could reduce the payback period and improve ROI. While the initial investment for a 10kWh solar battery system is substantial, the long-term financial benefits make it a great investment.
Detailed infographic of a 10kWh solar battery investment cost-benefit analysis
Here are some of the financial benefits and potential return on investment of a 10kWh solar battery system:
Yes, it’s worth having solar panels with a battery. When you consider the convenience of being able to store your own energy and make money for feeding back to the grid, it’s an easy choice. The realistic side is that adding solar panels with battery storage costs a bit more, but a home solar battery has the potential to double your savings. Having solar panels alone are great, but you you’re not able to use the energy you generate at night or when the sun isn’t shining.
Balanced scale image comparing costs and benefits of home solar battery storage
The initial cost of home solar and a battery, including panels, inverters and installation can be a significant investment. However, this upfront expense is offset by substantial long-term savings on electricity bills. Solar batteries allow you to harness and store solar energy, reducing reliance on the grid during peak hours and cloudy days. Over time, these stored reserves provide consistent energy, resulting in lower monthly expenses. You can also make money by feeding excess energy back to the grid, making solar panels and battery storage a financially viable choice over the system’s lifespan.
Graph showing long-term savings versus initial solar battery costs
Here are some tips to optimise your solar battery usage for maximum savings:
Learn about the sustainable benefits of a solar battery on our tips and tricks page.
Here are some government incentives available for solar battery investments that can reduce the overall cost and improve the return on investment:
Map highlighting different government incentives across regions
When deciding where to buy a solar battery, it’s essential to choose reputable suppliers to ensure the reliability and quality of your investment. Soly UK, endorsed by Shell UK, is a world leader in renewable energy with industry-leading warranties and guarantees. To find the best deals, compare quotes and take advantage of discounts, promotions and government incentives to reduce costs. Ensure that the supplier provides comprehensive warranties and reliable aftercare support to guarantee the long-term performance of your solar battery system.
Icon set representing different places to purchase solar batteries
Visit Soly UK to explore a wide range of solar battery options and find the best deals. With a strong reputation, Soly provides high-quality solar panels and batteries with industry-leading product and performance guarantees. Want an instant quote? Use our configurator tool, or set up a virtual consultation with our renewable energy experts for free, no-obligation recommendations for your home.