Tesla Says Powerwall 2’s Return Will Be 8-15%. Really?

powerwall spruiker

Is it reasonable to expect a “8-15% return on investment” on a Powerwall 2?

Last month, Lyndon Rive, Tesla’s Vice President for Energy Products, stood up in front of a large group of people, including me, and promised the Powerwall 2 will deliver a return between 8% and 15%. [Read more…]

Is The Powerwall 2 A Good Investment?

powerwall 2 and piggy bank

Will a grid connected Powerwall 2 beat a term deposit as an investment?

Tesla has announced the impending arrival of the Powerwall 2 at a promised price point that, on the surface, looks very compelling: $10,150 fully installed1, or  23c per warranted kWh.

It seems particularly impressive when you consider that in Sydney and Perth, time-of-use tariffs can go to 50c per kWh during peak periods.

That’s 23c for electricity from a battery vs. 50c for grid electricity. Surely that makes the Powerwall 2 a no-brainer investment for people on such a tariff?

I decided to look a little deeper into the economics of using Australia’s cheapest battery2, on Australia’s highest grid tariffs.  Unfortunately I found that high peak rates are not nearly as good for the economics of the Powerwall 2 as they seem.

Read on to discover why. [Read more…]

Footnotes

  1. Grid connected – no backup
  2. Per warranted kWh, cycled once per day, assuming Tesla keep their word, they have a long record of not delivering on promises.

An Off Grid Solar System Can Pay For Itself But Can’t Beat On Grid Solar

Ronald's parents

Lot’s of folks are wondering if it is time to leave the grid.

Home energy storage has gained a lot of attention recently and there are many people who think  making homes independent from the grid by using batteries to store electricity from rooftop solar is an idea whose time has finally come.

So will home energy storage soon be like rooftop solar in that it will pay for itself and be used in homes across the nation, or is it like a porn star?  Always coming, but probably not something you would actually want in your house.

To gauge its prospects I decided to investigate whether or not a household that is well suited for energy storage could save money right now by installing an off grid solar system.  And entirely through good fortune and not at all because I am too lazy to bother doing real research, my parents just happen to fit into this category.  If they can’t save money by going off grid then probably no one can. [Read more…]

How I got a $33 power bill with solar – even with a crappy 8c buy back rate

I got my quarterly electricity bill last week. It was $33. I was so happy that I tweeted AGL.

AGL’s reply is priceless:

I’m guessing AGL don’t get a lot of compliments on Twitter! I also posted a scan of my bill on SolarQuotes’ Facebook page:
[Read more…]

How Much Will You Get Paid For Your Solar Electricity?

Hint: It’s a bit more complicated than you might think!

By my reckoning 25% of people buying solar power systems want to save the planet as a priority. The other 75% want to save their bottom line and saving the planet is a nice side-effect.

I get a lot of emails saying: “Help! My bills are [insert large number here] dolars a quarter – what size solar system do I need?”

The answer to this question is quite longwinded – but if you want to understand whether a solar system is worthwhile for you financially – you need to understand this stuff! So I made a video to help explain. If you are considering buying a solar system I strongly recommend watching this:

[Note: Since I made this video the Victorian and QLD Feed In tariffs are no longer more generous than the rest of the country – they are both 8c per kWh at time of writing!]

[Read more…]

Hybrid Solar Systems Part 3: Costs and Payback

solar panels and a dollar sign

What’s the payback?

In my previous 2 posts I looked at the concept and design of Hybrid Solar systems.

The main conclusion of those 2 articles was that

a) Hybrid solar rocks!

b) But you gotta pay for it!

So the question this post will try to answer is:

How Much Extra Does Hybrid Solar Cost?

and bearing in mind the extra costs:

What is the payback of Hybrid Solar Compared To Regular Grid Connect Solar?

So let’s look at the cost of a Quality 5kW Grid Connect system and then see what it costs to upgrade it to “Hybrid”. [Read more…]

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