If you have considered solar at any time, you have likely heard about battery storage. Battery storage adds another layer of independence from the grid. It backs up your power and helping you maximize the solar energy you produce.
The demand for adding battery storage is rising rapidly as technology advances, new rebate programs launch, and net metering rates shift. Not to mention, battery storage is becoming more cost-efficient than ever with costs going down for the first time in four years!
Technology Advancements: The Big 3 Players in Battery Storage
- TESLA POWERWALL: This year, Tesla released the Powerwall 3. This version features an integrated solar inverter that transfers solar with higher efficiency (reducing the solar system parts you may need with other battery systems). The Powerwall 3 also supports larger system sizes than the Powerwall 2.
- FRANKLINWH: Franklin WH is rapidly gaining momentum in market share due to its Smart Circuit feature for larger loads that can be shed when the battery charger level is at 50%. The FranklinWH also has a large reserve for Black Start capabilities. (Black start is the ability to restart parts of the power system to recover from a blackout.)
- ENPHASE 5P: Enphase IQ Batteries are the first microinverter-based storage system. The Enphase 5P is considered the most Powerful small battery available with a high amperage output for its size. It is also an easy battery to service and replace parts if needed.
Duke’s PowerPair Incentive
All the battery systems above qualify for the limited-time Duke Energy PowerPair rebate when installing a new solar system and battery storage simultaneously. The proposed PowerPair incentives would cover up to $9,000 or about 13% of the installed equipment cost and the IRA tax credit would cover an additional 30%. What incredible savings!
The application period for this rebate program is from May 10th to June 7th, 2024.
Get a free PowerPair quote with one of our Energy Specialists here.
Battery Storage Incentives
If you are interested in added battery incentives but do not qualify for the PowerPair program, Duke offers open enrollment for the Battery Control incentive. The incentive is $6.50/kW per month in exchange for providing Duke control over your battery storage system for 30 to 36 ‘control events’.
During a control event, Duke would notify you through an app, and within 48 hours, a discharge of the battery could occur. (Duke would not discharge the battery below a 20% state of charge.) Participants can use their batteries normally outside of the ‘control event’ windows and are allowed 4 ‘Opt-out’ dates to deny Duke access to the battery.
Net Metering 2.0 with Batteries
The interconnection policy that controls how your solar system connects to the grid is called net metering. It is the credit for the solar energy you produce. Net metering 2.0 Time-of-Use (TOU) rates are based on the time of day and peak demand. TOU rates mean that your energy consumption and solar production are valued differently based on the hour of the day, day of the week, month of the year, and peak usage hours.
With the addition of batteries, you can help optimize your rates. This can happen by sending and pulling energy during optimal rate periods, keeping your utility bill low. Some models of batteries even include features to prioritize load shedding one step further!
Essentially, you get more control over your energy and utility rates when you add battery storage to your home. Additional information is found here.
Cost Trending
As we move further into 2024, it’s important to note that battery prices are decreasing substantially. According to Energy Sage’s 2023 Marketplace report, battery costs dropped for the first time in 4 years. And that’s not all! Due to the current climate in the global solar industry, the total cost of solar installation has also come down.
Add in the 30% federal tax credit and the Duke PowerPair rebate? Now that’s a no-brainer!
Battery Experts
Yes Solar Solutions is proud to be the first Tesla Powerwall certified installer in North Carolina. We completed the first Powerwall installation in the state. Yes Solar Solutions is the only NABCEP-accredited company in North Carolina. We set solar industry standards, make solar accessible, and guarantee the power of independence.