Welcome to the new lithium-ion battery, a powerhouse of energy storage that’s smashing through boundaries. Since 2010, battery pack prices have dropped almost 90%, from $1,200 kWh to $137 kWh. By 2023, the average price is expected to drop to $100 kWh. That number is being called the tipping point, when car manufacturers will start selling electric vehicles at prices comparable to standard gas-powered cars. One company in the news for its EVs and batteries (and a plethora of other products and projects like solar roof tiles) is Tesla, which makes PowerWall battery storage systems.
Battery pack price progress has been almost perfectly mirrored by the advances in solar panel efficiency and price. But we’re not here to talk about solar panels or EVs. (Visit MOXIE’s sister company, VERV Auto, to learn more about the crushing power of electric-powered cars wherever you may roam.)
Daytime solar is a given, right?
When the sun’s out, your solar panels produce electricity directly from the source. If you have any extra, a net metering setup sends excess energy to the grid and gives you credit (where applicable).
With a hard-wired battery storage system, you can rest easy when the sandman enters to put you to sleep at night, knowing you have stored energy. Hit the lights and you’ve got clean energy in the small hours of the night.
Reasons to add lithium-ion battery storage to your system
There are a plethora of advantages and benefits of adding battery storage to your solar array:
- Excess energy is stored to make the most of your panels
- Stored energy protects you from grid outages
- Reduce electricity bills
- Reduce your carbon footprint with stored power from batteries
When the power goes out for an extended period, your grid connection goes out too. It’s a safety issue. Utility workers can’t be accessing wires when you’re sending current back into the system. But with lithium-ion batteries, power outages can be managed.
Your lithium-ion battery backup can replace a gas generator and literally keep the lights (and the microwave and the Wi-Fi) on.
Tesla’s battery system has all the product features and appurtenances that are emblematic of Tesla’s products, including mobile app support and over-the-air updates for optimized performance. The updates also occasionally add new features like Storm Watch, which checks weather and power grid conditions to maximize energy storage in uncertain conditions.
The current battery boom has taken hold almost in sync with record-setting solar installation growth in 2020 and solar technology advances made in the past decade.
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Did you know?
Lithium (Li) is an alkali metal. It the lightest metal and the lightest solid element (under standard conditions).
Now turn up the volume for a blast from the past and a totally different kind of metallic battery: