The Big Solar Battery Price Drop
It isn’t just solar panel prices that have dropped in recent years, the battery price has been dropping too. Bahamian Prime Minister Hubert Minnis made the decision to switch to solar power after hurricane Dorian. He has seen an opportunity to avoid power outages and save money over time The price of renewable energy has become incredibly competitive, though it isn’t the only reason solar power is so popular today.
Justin Locke of the Islands Energy Program reported the price of solar energy conversion is a game changer. Though solar power is a make sense opportunity in the Bahamas it was too expensive in the past. Now Locke notes that “Battery storage has decreased in cost over 60 percent over the last five years.” With the Solar Battery price drop added to the earlier drop in solar panel prices, solar has become the leading solution for reliable power in the Bahamas. They are building a micro array on high ground, nearly at ground level. The panels can withstand hurricane winds but their elevation should be high enough that they will avoid surging waters.
The Lower Prices Make a Solar Battery a Solution Across the US.
Now that solar battery storage has become so affordable, it makes sense. Locke sees the storage as a way to effectively enable the use of sunshine when the sun isn’t shining. In fact the Bahamas as converting to solar as a means to keep power even through or after powerful storms. Solar power consumers in other parts of the country like Minnesota can enjoy using their own generated power after hours by adding a solar battery to their conversion plan.
How Low Has the Price of a Solar Battery Dropped?
Sixty percent in the last five years is an attractive price drop. But over the last three decades, sources such as Hannah Ritchie on ourworldindata.org reports a drop of more than ninety percent. Ritchie noted that battery cell prices have fallen by an average of 19 percent for every doubling of capacity. What is exciting to those considering solar battery as a storage option is that that price drop looks like it will continue.
Battery technology is improving in many aspects and the Energy density of cells is increasing. That means the amount of electrical power you can store in a unit (liter) of battery increased. In 1991, 200 watt hours (Wh) was the normal capacity per liter of battery/. Today 700 Wh capacity per liter is normal.
Batteries are smaller and lighter regardless of the application or capacity. It’s why cells phones are lighter and slimmer. It’s why vehicle batteries are more affordable. And even trucks and planes are now powered by smaller, lighter batteries. A solar battery, some of which are also lithium ion batteries, have also gotten smaller, lighter and less expensive.
More Competitive Than Ever
The combination of price drops in solar panels, as well as in solar battery storage makes solar prices more competitive than ever when compared to fossil fuel derived energy. If you’re In Minnesota, a family run firm called Renewable Solar Resources can help you make the transition to solar energy. Renewable Solar Resources spent years working to support the transition to solar energy systems on residential and commercial properties. Now, with the lower cost, increasingly efficient, reliable energy source, solar power is taking its place as a powerful clean energy star. Solar panels, SolarEdge optimization and improved solar storage continue to grow more efficient, making solar an extremely affordable choice.