The good news is a number of players are entering the home market with solar cells and battery storage. The bad news is the cost. These will come down. The following press release is what I believe the start of a flood of home solar/storage options that will be DYI from your nearest hardware (WalMart?)
IKEA helps Homeowners to cut electricity bills by up to 70 percent with new Solar Battery Storage
• New Solar Panel and Battery Storage solutions helps customers benefit by up to £560* a year
• Battery Storage is set to revolutionise the UK energy market following Government plans to invest £246m in battery technology, saving consumers £40bn by 2050
• Prices for Solar Battery Storage from IKEA and Solarcentury start from as little as £3000
Designed to work alongside existing Solar Panels or as part of a brand new combined home Solar Panel and Battery Storage system, the new offering will make it much easier for homeowners to save on their electricity bills by enabling them to use more of the electricity that is generated by their solar panels.
By adding Solar Battery Storage, unused solar electricity can be stored and used at a later time, meaning the amount of solar electricity an average home can use doubles to 80%. The result: homeowners see their savings doubled and their electricity bills cut by up to 70%. With the average household electricity bill coming in at £584**, homeowners who install solar panels could benefit by £380 in the first year after purchase if only using 40% of the solar consumed electricity or £560 if using 80% of the solar consumed electricity with the help of Solar Battery Storage.
Hege Saebjornsen, Country Sustainability Manager, IKEA UK & Ireland said:
“At IKEA we’re always looking for ways to help customers take positive actions at home for both the environment and their wallets. We know that our customers want to live more sustainably and together with Solarcentury we will help them to get more value from their solar panels and do just that. With energy bills already going up 15% this year****, there’s never been a better time for customers to take back control of their electricity bills and maximise their savings by switching to solar and solar storage.”
“We’re committed to helping homeowners reap the benefits of going solar and our business partnership with IKEA is a significant step forwards for the renewable energy industry. The cost of solar installations has dropped considerably in recent years and is in fact 100 times cheaper than it was 35 years ago. We believe IKEA and Solarcentury are bringing the most competitive package to the market yet so more people than ever before can profit financially and environmentally by producing their own energy.”
The IKEA Solar Battery Storage starts from just £3000 (5% VAT included), whilst prices for homeowners who already have solar and want to add a battery start from just under £5000 (20% VAT included). This includes a 15% discount available to IKEA Family members.
To find out more please visit: ikea.co.uk/solar
*All prices as current UK IKEA price list (including 15% discount for IKEA FAMILY members) and takes into consideration the following scenario:
Property is in London with a south-facing pitched roof which is 10% shaded
Family at home only in the afternoon during the week using 3,300 kWh of electricity
12 panel system installed
6.5kWh battery system installed
Total installed price: £8,750 including VAT at 5% and with a 15% IKEA Family discount
Generation tariff of 4.07p rising with RPI of 2.5% per annum
Export tariff of 5.03p rising with RPI of 2.5% per annum
Price per kWh for grid electricity at 16p rising at 5% price inflation per annum
Solar module degradation at 0.7% per year
*** Using 3,300kWh per annum
**** Energy Prices: examples: nPower raised energy prices by 15% from 16 March 2017, E.on 13.8% from 26 April 2017, SSE 14.9% from 28 April 2017
Battery installed with panels, prices start from just under £3000 (5% VAT included). LG Chem battery 3.3kWh (kilo watt hour). The equivalent of running 200W of lighting for 14.5 hours if fully charged.
Retrofit battery installed, prices start from just under £5000, (20% VAT included). LG Chem battery 3.3kWh (kilo watt hour). The equivalent of running 200W of lighting for 14.5 hours if fully charged.