Home Battery prices

[Bramco]

Hi,

 

We're about to order a 15kW battery storage system but I'm wondering if prices will drop further in 2024.  There seem to be some cheap deals around at the moment. Are suppliers overstocked and dumping stock? In which case prices might remain stable, or is this just part of a trend in pricing as more suppliers enter the market, in which case prices will continue to fall, like PV panels.

 

Obviously where the general trend is downwards, the system we order will be cheaper but we'd be kicking ourselves if we could get the same system in a years time for half the price.

 

Simon

[SteamyTea]

10 minutes ago, Bramco said:

15kW battery storage system

It is kWh.

kW is the power, kWh is the stored energy.

[JohnMo]

Prices do come down and new technology will be around every corner. You could wait for ever, or make decision and move on with your life?

 

I am saving £2-3 a day in winter with the battery, the other three seasons will be quite a bit more. Will prices fall that much in the next year I doubt it, will they still be vat free (starting Jan 24), this time next year?

Edited December 22, 2023 by JohnMo

[Susie]

I think it is just the quiet period e.g. there are offers on triple glazing for the price of double. 
do you already have the PV because the VAT incentive has changed you can get the batteries with a separate installation at 0 VAT until 2027 @JohnMo

this may bring the cost of the batteries down, but my crystal ball is not working, but I hope they do come down. Are you self installing battery as that’s included in the VAT incentive. 
you could calculate how much your giving back to the grid now, how much you could save in interest at the bank not buying the battery, would waiting 5 months and be ready for the summer excess you generate make a difference.

 

 

[ToughButterCup]

55 minutes ago, SteamyTea said:

It is kWh.

kW is the power, kWh is the stored energy.

 

Don't worry @Bramco, we've all been there. It's probably your spell-checker eh?

[Bramco]

3 hours ago, SteamyTea said:

It is kWh.

kW is the power, kWh is the stored energy

 

There's no quarter given is there for typos at dawn.....  

[Bramco]

3 hours ago, JohnMo said:

will they still be vat free (starting Jan 24), this time next year?

 

On another forum someone pointed out that retrofit battery systems will be zero rated from Feb next year.  So we'll hang fire until then...

 

https://www.gov.uk/government/consultations/vat-energy-saving-materials-relief-improving-energy-efficiency-and-reducing-carbon-emissions/outcome/summary-of-response

 

Simon

[Bramco]

3 hours ago, Susie said:

you could calculate how much your giving back to the grid now, how much you could save in interest at the bank not buying the battery, would waiting 5 months and be ready for the summer excess you generate make a difference.

 

Yes, this all based on working out how much we use and how much the Solar PV has generated and we've exported over the last year.

 

3 hours ago, Susie said:

do you already have the PV because the VAT incentive has changed you can get the batteries with a separate installation at 0 VAT until 2027 @JohnMo

this may bring the cost of the batteries down, but my crystal ball is not working, but I hope they do come down. Are you self installing battery as that’s included in the VAT incentive.

 

We already have PV which was a self install but didn't do the batteries then, so the order for the batteries was with VAT - but see above, batteries will be zero rated from February next year, so we'll wait...

 

Simon

[SteamyTea]

I bet the batteries don't come down by 20%.

[Dan F]

4 hours ago, Bramco said:

We already have PV which was a self install but didn't do the batteries then, so the order for the batteries was with VAT - but see above, batteries will be zero rated from February next year, so we'll wait...

 

Yeah. That's what I'd do.  What batteries are you looking at?  Is your PV ac-coupled, or do you have a hybrid inverter?