How much does battery storage cost?

With the rising cost of energy bills and the increased strain on the grid to provide energy, it’s unsurprising that battery storage systems are growing in popularity. Whether you have solar panels and want to store excess energy to power your house at night, or you’re on a smart tariff and want to get the most out of the off-peak prices, you know that investing in a battery storage system is a great choice.

You’ve researched battery storage systems, read about the benefits and even worked out how much storage you need for your home. Yet you might still be wondering: how much will a battery storage system cost to set up and will it be worth the initial investment?

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What is the upfront cost of a battery storage system?

This will depend on a number of factors including, what you need the battery storage system to do, how you intend to use it, and of course the brand you’re buying. As with anything, you need to do your research before decided which battery storage system to go with.

Choosing to invest in a smart battery storage system, like libbi, will mean you have more control and you’re likely to see higher savings in the long run. A smart battery storage system will also be able to identify when it the best time to store and discharge electricity meaning the longevity of the device is preserved.

On average, the initial upfront cost of a battery storage system (including the installation) is around €5,000 to €15,000. Although this number can seem quite high, when you take into account the potential savings and the benefits, you’d be surprised at just how much money you will save especially when used in conjunction with solar panels.

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How can I get a free battery storage system?

Just like there is no way to get free solar panels in Ireland at the moment, there unfortunately is no such thing as a completely free battery storage system. That being said, by offsetting your energy bills by a considerable amount, a battery storage system will completely pay for itself over time.

If you’re thinking about installing solar panels onto your home, you might want to add in the cost of having a battery storage system alongside this. In doing so, not only will you see a return on the cost of the solar panels but also the battery.

That being said, libbi can be installed without solar panels and adapted later if you do choose to go solar. As well as this, libbi also functions as an inverter for your solar panels.

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Will I still save money if I don’t have solar panels?

Absolutely. Although you will see savings more quickly when used with solar panels, there are still plenty of savings to be had, not to mention other benefits also.

The price difference per kW of electricity between peak time and off-peak (or night) is roughly 15.14 cents (based on an average difference across Ireland’s biggest suppliers). This might not sound like much, and we all know it barely covers the cost of a teabag, but stick with us.

A typical 3-bedroom Irish home uses roughly 4,200kW of electricity every single year. If all of the electricity used could be charged on the off-peak tariff you could see an annual saving of €635.88. Over ten years, you’d have paid off your battery storage system and also potentially saved €1,358.80.

As well as this, in the event of a blackout, libbi can be installed to still be able to provide you with electricity. Meaning your home might never be completely without power.

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Why should I choose libbi?

One of the benefits of choosing libbi over other battery storage systems, is the modular design which can be adapted as you need. One libbi module can store enough energy to keep the lights on in a 3-bedroom home for 144 hours.

As well as libbi’s modular design, libbi is a smart battery storage system and is a lithium iron phosphate battery, which is completely safe and stable; making it the ideal home battery storage system. It is also incredibly reliable and has a much greater longevity than other battery types.

Still not convinced? libbi comes with a 10-year warranty, so you can have peace of mind to know it is guaranteed to last.

There are loads of reasons to choose libbi, but if you’re still not sure then why not get in touch for a free quote and to find out more. As with all of the myenergi products, libbi can work as part of a system to help you save money and make more envionrmentally sustainable choices in your home.

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