50% Cheaper, Solar Storage System Prices Are Similar to 2021 Traditional Solar Energy Kits

Written by Simone Cesário

Published on 29/04/2024 at 14:38

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The reduction was motivated by the decrease in the prices of solar panels and batteries. Only lithium batteries account for a 97% reduction in value over nearly three decades

The solar energy storage system, which is already in advanced use in countries like the USA and Europe, is starting to arrive in Brazil with the trend of becoming more accessible to consumers. Just in the last year, the reduction in the value of the complete solar storage system was, on average, 50%, according to the multinational SolaX Power.

What contributed to this scenario was the decrease in the price of modules by almost 50%. It is worth noting that modules make up almost 70% of the storage system, as explained by the executive director of the multinational SolaX Power, Gilberto Camargos.

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Furthermore, the reduction in the value of batteries also boosted this decline in the storage system. Lithium batteries, which are traditionally used in photovoltaic systems, experienced a 97% reduction over nearly 30 years, according to a study by Our World in Data, and only between 2022 and 2023, this drop in battery prices was 14%, according to Bloomberg NEF.

“This scenario has made the value of storage systems with hybrid inverters more accessible, which today are equivalent to what was paid for the traditional solar energy system three years ago,” points out the executive.

How Do Storage Systems Work?

Conventional solar systems are connected to the grid and inject energy directly into the electrical grid. Therefore, during blackouts, these systems do not guarantee power supply. To solve this issue, the photovoltaic system has evolved. Hybrid inverters are the ‘brain’ of the system, meaning they are solar system equipment that can operate simultaneously with a power source (solar panels) and a battery bank. This equipment allows solar energy to be stored in batteries for use during blackouts, at night, or during rainy periods, for example. In other words, one of the main advantages of the storage system is that during the day, instead of injecting unused energy into the grid, it is directed to the battery and can be used later. SolaX Power was the first manufacturer to introduce a three-phase hybrid inverter to the European market in 2015.

“In this way, there will be no dependence on the electrical grid, as well as substantial savings on the electricity bill, which means that the storage system with batteries pays for itself in 6 to 8 years,” emphasizes Gilberto Camargos.

About SolaX Power – It is a multinational founded in 2012 with headquarters in Hangzhou, China, and subsidiaries in various countries, including the Netherlands, Germany, the United Kingdom, Australia, Japan, and the USA. With more than 2,000 employees worldwide, the company is recognized for its work in research and development: there are over 100 international patents and more than 500 market certifications. Its portfolio consists of photovoltaic inverters, energy storage solutions, vehicle chargers, and advanced energy management systems. Its inverters are known for their efficiency, reliability, adaptability, and intelligent control. SolaX Power is committed to sustainability, innovation, and customer satisfaction. Its global expansion aims to contribute to the global transition to a greener future.

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Simone Cesário – Responsible Journalist

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simonelovicesario@gmail.com

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50% Cheaper, Solar Storage System Prices Are Similar to 2021 Traditional Solar Energy Kits

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