I asked my solar installer if there was any change to battery price/capacity
Here are the figures:
Specs of the Tesla Powerwall 2
● cost: $15000
●Warranted aggregate kWh: 37000 total. And 10 years.
●Round trip efficiency 90%
Cost of warranted kWh if it is all used in one year
●15000/(37000 x 0.9)
●Cost to store each warranted kWh in the battery: 45c/kWh
●Add the FiT: 7c/kWh - this is the income forgone by diverting kWh from grid export into the battery
●Assume cost to produce each kWh stored by a solar array = 8c/kwh
Total cost to store each warranted kWh in battery: 60c/kWh
In order to break even the cost of grid electricity if battery not available at the time the battery would be used must be greater than 60c/kWh in
However you have not accounted for:
●Opportunity cost of the battery and solar panel at prevailing interest rate 5% for 10 years.
Looking at opportunity cost of the $15000. Another way is to assume you borrow the $15000 from your mortgage and you have to pay it back using the savings from the battery storage. Or that you forgo investing $15000 in an investment that returned 5% pa.
5% opportunity cost and 60c/kwh will take approx 8 years to pay back the $15000
The battery is income producing only
●After 8 years
●2 years of warranty remaining and 7400 kWh warranted kWh remaining
●Assumes that the cost of grid electricity during battery discharge period is equal to or greater than 60c/kWh
●Assumes that the cost of producing stored kWh is 8c/kWh
●Assumes the opportunity cost is 5% pa
●Assumes Fit 7c/kWh
●Does not take into account inflation
●
Some food for thought
●I would do much better putting that $15000 into my super fund which is averaging 12-15% pa long term
●Battery only makes financial sense if tariffs are predicted to increase. However, the prevailing message from politicians and renewable activists is that renewable energy will reduce energy tariffs. If so there is even less financial incentive to install a battery. Can't have it both ways. Either the politicians and activists are lying in which case a battery will make sense or they are telling the truth in which case a battery does not make sense.