Posted: 17th January 2018
Currently the payback period for a solar hybrid system is quite long compared to that of a simple grid connected solar system without energy storage. Often (but not always), the warranted battery life of the system is unfortunately shorter than the payback period based on the pure economics of storing and using the excess solar energy at a savings of today’s kWh electricity price, rather than selling that excess energy to the grid for a miniscule amount. But electricity prices are forever increasing, making it difficult to accurately predict the return on investment for a solar hybrid system past its first couple of years of operation. Nonetheless, apart from the simple economics above, further savings may result from food that may have otherwise gone to waste from the in-operation of your fridge / freezer during any prolonged grid outages, or lost revenue from not being able to perform your work during a grid outage. There is a myriad of potential examples of additional savings and benefits a solar hybrid system may bring, but one thing for sure – it is very hard to put a price on having a cold beer and watching TV whilst your neighbours are frantically searching for candles!