On Friday, the 1st May, Elon Musk CEO of Tesla unveiled its new electrical storage device “Powerwall” which will save consumers hundreds of pounds a year by collecting and storing energy generated by a domestic/commercial solar PV system.
This is an extremely exciting development for the Solar PV market and adds increased value to the benefits associated with the installation of a domestic or commercial solar PV system. Many people are claiming this to be a revolutionary break through. The Times newspapers headline yesterday prounced on its front page “Power to the people in energy revolution”.
Thought the technology behind Tesla Powerwall Lithium battery is not revolutionary the cost certain is. There are currently, and have been for some time, Lithium batteries on the market designed to store solar PV energy. However, the cost of these devises range from £6,000 to £10,000. Tesla new Powerwall will cost $3,000 (£1,960) for a 7kW battery and $3,500 (£2,290) for a 10kW battery.
Now here’s the important bit. At present the UK government heavily subsidises solar PV though it’s Feed in Tariff scheme (FiTs). Meaning the solar PV consumer receives quarterly payments for every unit of electricity produce by their system regardless as to whether the energy is used or not. Every three months these subsidies are reviewed by Ofgem. The more Solar PV installations carried out during a particular quarter the more Ofgem reduces the subsidies. The Powerwall solar battery will be available in the UK by the end of the year. This means demand for a solar PV system is going to rise and the subsidies are going to fall. Therefore its simple “get it in there now”. Once you have a solar PV system installed on the roof of your house you’re locked into 20 years of tax free subsidies. Ofgem can drop future subsidies but it won’t affect those already signed up.
So if you are interested in Solar PV and would like to find out more please feel free to call us on 01909 567648 or alternatively you can e-mail us at email@example.com.