Grid Tie is an Investment, Grid Hybrid is More Like Insurance
Considering the cost of energy storage requires a different mindset than when assessing the price of solar power only. Grid tie solar is an investment with a guaranteed financial return that starts delivering benefits immediately upon activation, making return on investment (ROI) a crucial factor in most people’s decision to adopt solar technology.
Energy storage, however, functions more like an insurance policy; it’s an expenditure made to safeguard against potential power disruptions and their associated challenges. Installing energy storage means spending money for comfort, convenience and peace of mind if your utility power goes out. However, you might be surprised to learn energy storage is actually relatively inexpensive insurance, and can actually pay for itself, when you look at the cost over time.
Prevents food from going bad: Backup power can keep refrigerators and freezers running so you don’t have to replace spoiled food.
Keeps pipes from freezing: It helps avoid frozen pipes that could burst and cause costly water damage.
Prevents basement flooding: Homes with sump pumps stay safe from flooding in the basement, which avoids costly cleanup and mold issues.
Cuts lodging costs: During extended power outages, you avoid expenses such as hotels or eating out.
Future Savings: With time-of-use rates on the horizon in Washington, home battery backup systems will allow you to store energy during the day and use it during peak pricing hours in the evening, providing significant cost savings.
Boosts home value: Homes with backup power options sell for more.
Reduces work interruptions: If you work from home, it maintains power for computers and internet access, preventing lost work hours and missed business opportunities.
Also, if you install solar plus energy storage, the electricity produced will not only pay for the solar, it will also pay for the energy storage. But payback should not be the deciding factor when you consider including energy storage.
But the bottom line is, if maintaining power during outages isn’t a priority, then energy storage is probably not a worthwhile expenditure for you.
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