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Electric vehicle manufacturer Tesla recently unveiled its long awaited battery storage solutions, including the Powerwall 7kwh battery storage system that will be available to Australian homes early next year. Tesla founder Elon Musk said it was a crucial step in revolutionising the world’s energy system and phasing out fossil fuels. He stated “Once we’re able to rely on renewable energy sources for our power consumption, the top 50% of the dirtiest power generation resources could retire early. We would have a cleaner, smaller and more resilient energy grid.”
The Tesla Powerwall is a lithium-ion rechargeable battery designed to store power at a residential level for back-up power, load shifting and self-consumption of solar power generation. It will consist of a lithium-ion battery pack, liquid thermal control system and software that receives dispatch commands from a solar inverter. It can be mounted on the wall and is integrated with the local grid.
Already earmarked as the next big thing in energy markets, analysts say that Tesla pricing is at the bottom end of the market and will likely hasten the transition to battery storage systems. With claims “For the first time, running your home on a battery will be affordable and easy. I think in the near future, having a battery in your home will be as normal as having a water heater or a dishwasher. This just takes us one step closer to being able to power homes completely without the use of fossil fuels.”
There are some people who are sceptical about this new product range and believe that it is just another toy for rich Greenies. In the samples below is a typical household with a 12kwh daily consumption, who installs a 4kw solar system with the 7kwh Powerwall. It is a typical working household and the samples are based on an average day with average solar generation and average power consumption.
The top graph shows the household with just a 4kw solar system covering 36% of their consumption and still using 64% from the grid. The bottom graph shows the same household with a 4kw solar system and the Tesla Powerwall covering 92% of their consumption, requiring the grid for only 8%. So obviously the benefits of the Powerwall are huge, however is it cost efficient to install one at the expected pricing. The simple answer to that, looking only at the $, is no not at the moment.
Studies have shown that for this typical home, at today’s prices of $0.30/kwh, the most cost efficient option would still be to install just the solar system. Purely looking at the $ side of things, the Powerwall and just using grid power come in at equally the second best option. Obviously power prices are going to continue to rise and in the very near future I’m confident that the Powerwall will easily be the most cost efficient option. It also has the other benefits of being able to provide power when the grid is down and also being much, much better for the environment.
Top Frog is highly excited about the release of this product and is looking forward to helping Australians become more sustainable and save the planet. Since the Launch last week, there has been 38,000 reservations for the Tesla Powerwall system so if you want to get one sooner rather than later, now is the time to get your order in. To find out more visit http://www.teslamotors.com/en_AU/powerwall.