Home Battery Storage Now Makes Financial Sense // Even WITHOUT Solar Panels // Pay Back Calculations
1,330Home Battery Storage Now Makes Financial Sense without solar panels, assuming you can get on an energy tariff with at least 4 hours Off Peak charging rates.
* Please note the calculations do not account for the electricity used by the house during the off peak period, along with the 10 - 20% losses in battery charge and discharging all of which will slightly increase the payback duration, but not by an amount to change the outcome. My focus was to keep it simple for the viewer to understand, and use the same format as in the 2019 video.
** Cost of items and installation are estimates. Costs of the batteries and install will depend on availability, complexity of install and the area you live in. It is important to get quotes and work out the payback based on your usage and total cost to install.
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Timecodes
0:00 - Intro
0:33 - What this video covers
1:16 - May 2019 Outcome
2:37 - Energy Costs and VAT cuts
3:25 - Basis for Calculations
4:08 - Octopus Go Tariff
4:47 - Battery Setup for the calculations
6:31 - Calculation on battery storage making financial sense
6:34 - Average UK Household Energy Consumption
7:01 - Octopus Go Tariff in April 2022
7:58 - Payback time with 13.4 kWh GivEnergy Battery Storage
11:02 - Payback time with 8.2 kWh GivEnergy Battery Storage
13:04 - Does Home Battery Storage Make Sense Without Solar
13:25 - Take Home Batteries with you if you move
13:53 - Final Thoughts