Solar Tax Credit Calculator:
It is easy to give you the rate of the solar tax credit. But it is much harder to give you the dollar value for your specific home. Luckily SolarReviews.com has developed one of the most accurate solar calculators. Using data from local solar installs in your area we can give you a very accurate cost guide for your specific home.
It will show you the dollar value of the federal solar tax credit and include any state tax credits if eligible. This gives homeowners who use our calculator the opportunity to figure out if solar is worth it for their home, before talking to solar companies.
Calculate the dollar value of the tax credit
Factor : Where You Find Your Installer
Theres no one-size-fits-all storage solution. With that in mind, its important to get multiple quotes to compare the same way youd compare prices for other major purchases: solar, cars, home appliances, a new HVAC system, you name it.
When you find your solar plus storage installer through EnergySages online quote comparison platform, youll pay less for solar and storage. to see how much EnergySage can save you!
EnergySage is the nation’s online marketplace for solar and storage: when you sign up for a free account, we connect you with companies in your area, who compete for your business with custom solar-plus-storage quotes tailored to fit your needs. Over 10 million people come to EnergySage each year to learn about, shop for and invest in solar and home batteries. .
Enter your zip code to see solar quotes near you
Should I Get A Solar Battery With My Solar Panels
While there are certainly some financial benefits to be had from installing a solar battery, whether or not your household should add a battery to your solar panel system will depend entirely upon your energy usage and personal circumstance. If you are hoping to slash a few dollars off your energy bills with your battery and tap into more of your generated solar energy during all hours of the day, then it may be worth adding a battery system to your home.
Its important to keep in mind however, that solar batteries are quite a significant financial investment, and there is no guarantee that within the standard 10-year warranty time frame that your system will be able to make its money back. Even with the aid of a government solar rebate or grant, the upfront costs involved with solar battery installation are still quite high. Thats why its best to do your research and shop around for quotes before making a purchase decision.
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Was The Federal Solar Tax Credit Extended
Yes, the solar investment tax credit was extended at the 26% rate for an additional 2 years. It was originally going to drop to 22% in 2021, but now with the new legislation being passed, it will remain at the 26% rate until the end of 2022.
This is great news for homeowners thinking about solar, as the tax credit was voted as the single most important financial incentive in the largest home solar survey.
Solar Battery Storage System Installation Cost
Most solar battery systems cost between $2,000 and $3,500 to install, though some smaller batteries can cost only $200. This depends on the amount of work the solar installation professional will need to do in order to complete the project. From connecting the solar battery to the solar panel to combining multiple solar batteries, this can vary drastically from one homeowner to another.
Including the battery, the cost of a solar storage system can range from $300 to $15,000. High-quality home solar batteries tend to cost between $5,000 and $7,000 for an average cost of $6,000, not including installation fees or other equipment. Keep in mind that some systems can cost upwards of $30,000, though this is the exception.
Get Local Estimates for Your Solar Battery Storage System
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What Is Your Feed
A feed-in-tariff is a rebate on your energy bill for each kWh of electricity that a household solar system generates but doesnt actually use, meaning its fed back into the energy grid. This raises the question if youre getting paid for your excess solar power, why should you store it? Its a good question, but while some areas of Australia receive high tariff rates , some states have reduced or completely removed their feed-in-tariff subsidies, meaning the rate youre paid is usually around 4-6c/kWh.
Whats The Economic Benefit Of Battery Storage
A home will benefit from a battery storage depending on:
- Whether the home has excess solar electricity.
- The choice of electricity tariff.
- Income is available from exporting it to the grid.
- Whether the homeowner drives or expects to drive an electric car which could benefit from a cheap rate of electricity at night, thus leveraging the off-peak tariff.
- The size of the property and electrical load there are economies of scale with larger solar and battery systems.
For larger properties, battery storage generally makes sound economic sense.
For smaller properties, the factors set out above will determine economic viability.
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Living Without Power Bills Angelas Story
Powering the home used to cost her $2400, but in the months after combining her solar panels with a new Tesla Powerwall home battery, her power bill has dropped to below $0. This means her power retailer is, in fact, giving her a credit every quarter for the energy shes contributed back to the grid.
My power bill used to be $600 per quarter, the last bill I got was a credit of $40. Im sure the next bill will be even better since its summer.
Angelas Tesla Powerwall was installed at a good time since power prices have continued to rise to record levels recently.
The even more remarkable fact is that Angela managed to reduce her power bill without cutting down on her electricity usage. In her living room when we talked to her, there was an air conditioner running and the standard home appliances were all running.
Today, I did 2 dryer sessions and 3 washing sessions. I dont skimp at all.
Calculating How Much Solar Panels Will Cost For Your Specific Home Given Its Location And Electricity Use
Our solar panel calculator is the easiest way to determine the costs and savings of a solar panel installation for your specific home.
All you need is your address and the value of your monthly electric bill, and our solar calculator will determine your local utility companys electricity rates and how much power you use in order to tell you:
- How many solar panels you need to power your home
- How much your solar panels will cost
- How much your solar panels will save you
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Sizing The Solar Panels And Solar Batteries For Each User Type
To get the greatest utility from your solar battery you need to ensure that it will still be able to fully charge from your Solar Panels most days through winter when you are receiving the lowest amount of sunlight. In our calculator, we looked at various solar battery options and found the below options provided a good balance between grid energy independence and financial return. You can also use our advanced calculator to trial different battery sizes and see what size could be charged most days through the months with the lowest sunlight .
Given system performances will depend on sunlight patterns and the location within Australia, for the below figures we have used data from Sydneys weather patterns. You will see that our results have been broken down into capital cities and our calculator has all the data built in.
Why Cant I Use A Hybrid Inverter Charger To Charge A Dc Coupled Battery From The Mains
In theory, you could do this , but in most systems, you would be pushing electric current the reverse way through a solar generation meter. This may not damage the meter, but it would mean that when the electricity stored from the grid is used by the home, the meter wouldnt be able to tell if it came from the battery or the solar array. This means that your solar production figures would be inflated, and if you have an older array that has a feed-in tariff associated with it, you would be fraudulently claiming excess payments.
Find solar battery experts your neighbours rate
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Factor : Critical Load Panels
Most storage solutions on the market today arent large enough to cover every load in your home, meaning youll have to pull certain circuits onto a critical load panel. A critical load panel is like a secondary electrical panel where you put all of your essential circuits that you want to remain energized in the event of an outage. While the critical load panel itself isnt particularly expensive, the electrical work required to install one can add up quickly.
If youre going to have electricians pulling circuits during a storage install anyways, why not go the next step and install a smart electrical panel to get the most out of your storage system? A number of manufacturers now offer smart electrical panels that provide circuit-level monitoring and controls, leading to increased flexibility with how you use your solar and storage installation.
Smart electrical panels are certainly more expensive than a critical loads panel however, the flexibility they provide in your ability to get the most out of your storage installation make them a no-brainer in most cases. Why would you decide today which appliances and circuits you want to back up for the next ten years when a smart electric panel allows you to update those preferences in real time?
What Are The Pros & Cons Of Solar Batteries
As with any investment, there are both advantages and disadvantages to be aware of. Although there are many great benefits to investing in solar batteries, there are drawbacks that you need to know before you make the decision to buy a solar battery.
Below is a brief overview of the major pros and cons of solar batteries:
- Reduce your utility bills by storing surplus electricity, rather than exporting it
- Use electricity when and as you need it
- Earn a small amount by exporting stored energy to the grid
- You will need to replace the battery after 5-15 years
- Not all energy suppliers allow you to export stored energy
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Keeping Your Home Powered
As far as how long they can keep your home powered, standby generators easily outperform battery backups. As long as you have enough fuel, generators can run continuously for up to three weeks at a time .
That’s simply not the case with battery backups. Let’s use the Tesla Powerwall as an example. It has 13.5 kilowatt-hours of storage capacity, which can provide power for a few hours on its own. You can get extra power out of them if they’re part of a solar panel system or if you use multiple batteries in a single system.
Get Solar Batteries Installer
As a homeowner, you may be wondering: Who are our recommended installers of solar batteries? If you want to jump straight to getting a quote for a battery installation, you can follow the links below to speak with a verified professional. Continue reading to learn more about our favorite solar batteries.
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Determine Your Primary Energy Goal
We recommend talking with your storage provider about sizing and programming the battery to meet your energy goal:
- You can use your battery to provide backup power for your essential electrical needs and/or medical equipment during power outages.
- You can shift your use of grid energy to lower-price times of day to see bill savings.
- If you have your own home solar system you can also:
- Capture your solar energy and use it later to power your home.
- Send excess renewable energy back to the grid during more expensive peak times to see more bill savings.
Powerplus Energy Life Premium
Based on direct experience and feedback from many professional off-grid designers and installers, the self-managed lithium batteries from Powerplus Energy in Melbourne, Australia stood out as the best and most reliable choice for off-grid solar systems. Unlike the many common managed** lithium battery systems on the market from manufacturers such as BYD and LG, self-managed lithium battery systems do not require a communication connection with the inverter and are compatible with almost all leading off-grid inverter-chargers. These batteries can also be used as a drop-in replacement for older lead-acid battery banks and generally do not shut down after a low-voltage or low SOC event. We should also note, in certain situations, self-managed battery modules can be âhot-swappedâ or replaced without shutting the down site if there is an issue.
** Some managed lithium battery options that rely on communications can be problematic, especially at a low state of charge and very low temperatures.
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The Hidden Cost Of Battery Storage
Of course, the installation of batteries like most electronic equipment can impact the lifespan and effectiveness of the batteries. The last thing you want to be doing is buying a high-end battery, then have it break because the installers were a 2-person in a van operation that skimped on electrical hardware or messed up the installation.
Buying your batteries from a reputable installer can make a big difference to ensure the peace of mind that your batteries will operate for many years to come.
How Solar Batteries Work
Solar batteries store the extra solar energy your panels produce that you don’t immediately use, so you can draw from it later.
See, solar panels produce the most electricity during the middle of the day, which also happens to be the time when your home uses the least amount of electricity. With a regular grid-tied solar system, that excess solar energy gets sent back to the utility grid.
When solar panels are paired with a home battery, however, that excess electricity goes into the battery instead of going to the grid. Then, when the sun goes down and your panels arent producing electricity anymore, you can use the energy you have stored in your battery – instead of paying for electricity from the utility.
This means you get to power your home with all of the clean, renewable solar power your solar panels produce no matter what time of day it is.
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Number Of Batteries Installed
This seems like a no-brainer, but the more batteries installed, the higher the solar energy storage system costs. The number of solar batteries youll need depends on:
- How many kilowatt-hours of energy you use
- The storage capacity of the battery
- How many appliances you want to power
- How long you want to power your appliances
In most cases, in the event of a power outage, one to two solar batteries will hold enough stored energy to cover your energy needs and provide backup power to a few key circuits.
What Are The Different Types Of Net Metering
The purpose of net metering is to offer a monetary incentive for homeowners to install solar panels that also acts as a way for utilities to gain access to extra power when they need it.
Each state, and sometimes specific utility companies, offer different net metering options that range – some offer bare bones savings while others can help you earn money each month.
The most prominent net metering options are as follows:
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Factors That Influence Energy Storage Cost:
There are a few key factors that determine how much your energy storage system will cost: the equipment you install, the electrical work required for your installation, and even where you find your installer.
Perhaps the biggest factor in the cost of a battery installation is the equipment itself: what battery are you installing and how many of them do you need what chemistry does it use to store energy and does it have its own inverter? While equipment costs typically account for 50-60% of the cost of an energy storage system, the installation itselfi.e., the amount of electrical work required and where you find your installeralso plays a large role in the overall cost of the system.
Are Home Solar Batteries A Worthwhile Investment
For most homes, we think a battery doesn’t make complete economic sense yet. Batteries are still relatively expensive and the payback time will often be longer than the warranty period of the battery.
Currently, a lithium-ion battery and hybrid inverter will typically cost between $8000 and $15,000 , depending on capacity and brand. As the electricity market changes over the next few years, and battery prices improve, it may mean that in future it will make good economic sense for the average home to include a storage battery with their solar PV system.
Results from an Australian-based multi-year trial of solar storage batteries are not encouraging, with a high failure rate and difficulties with manufacturer support in some cases.
Nevertheless, for some homes, a storage battery can make economic sense. Households with high power consumption that are savvy about using their solar-generated and stored power can make the battery pay for itself in less than 10 years.
And many people are investing in home battery storage now, or at least ensuring their solar PV systems are battery-ready. Batteries are often seen as being less about the pure economics and more about being as independent from the grid as possible. This is especially the case for homes in areas with frequent blackouts or other power supply problems.
Rebates, subsidies and Virtual Power Plants
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