How Does Solar Energy Storage Work & How Does It Benefit Homeowners?
You need to be aware of this industry-changing technology advancement where you can now trade the solar energy you produce.
You can take advantage of this if you already have solar panels by installing a battery storage unit or read on or just start by installing solar panels first.
The BIG problem with solar panels
The problem is that there are peaks and troughs of power demand and supply for homes as most homes use most of their electricity at night time when they get home from work.
So if you have solar panels they produce and give you energy when there is daylight but when it’s dark they produce very little electricity.
The peaks & troughs can be flattened out by storing electricity while it’s cheap & using it during peak times. Plus this saves you money in electricity bills to boot.
Enter Solar Battery Storage Units compatible with joining the energy trading network of consumers.
What Is & How does the ‘Time-of-Use-Tariff’ work exactly?
The Fluctuating ‘time-of-use tariff’, is a new type of tariff. It enables you to trade & sell to the grid when needed to other fellow customers on the network. This will help you to achieve the best prices all year round.
At the moment you are likely tied down to paying expensive electricity prices to power your home. Plus have had to change your lifestyle to adapt to saving energy.
The solar panels you have or are thinking of installing will generate you renewable electricity. But, without an energy storage battery you will have power at times you don’t need it. And will not have enough power, when you do need it.
When you do not utilise your energy generated, it will go back into the network. This means you reap the money earning benefits from your solar panels every hour of every day.
It’s so new, can you rely on it?
- Technology developed for over 5 years.
- Partnered with Duracell & Solax battery manufacturers
- And licensed with Ofgem.
It works by using its AI power to optimise the greatest earnings & savings possible.
The most important thing is, as long as you install an approved ‘Social Energy’ battery it is possible to join up.
Key info to be in-the-know about
Some of what the industry advertises, are tactics to scare the public into something they do not need.
But there are a few things that you should definitely be aware of to help you make a decision & keep your bills low.
The Office of National Statistics show that:
- The average electricity bill increases by 6.92% every year.
- £1 worth of electricity today will cost you £2.73 in 15 years-time. Almost 3X more!
It seems to make logical sense then to offset these rises by using solar PV, battery storage and a ‘time-of-use tariff’.
Not everyone will benefit, here are a few things to check first
- The cost of installation.
- The type of system installed. (DC or AC, the chemistry of the battery, connections)
- How it’s used. (including the effectiveness of the control algorithm)
- The battery’s lifetime.
As most will come with a 10-year guarantee and will need very little maintenance, the main cost is the installation of Solar Panels (if you don’t already have them) and a battery.
Can you still claim the feed-in-tariff?
What we would also mention is that although the feed-in-tariff ended on March 2019, don’t let that discourage you from installing new solar panels.
This is because of these 2 main reasons:
1. The ‘Social Energy’ ‘time-of-use tariff’ will help you utilise every bit of energy you generate & save you money.
2. And if you live in Scotland, there are interest-free loans available for energy-saving improvements; This will help with the installation of the battery storage unit.
Example instances when you most likely will benefit:
- If you have an electric vehicle, being able to store cheap electricity to charge it could help to cut your costs.
- You use most of your electricity in the evening peak times.
To join the ‘Energy Trading Network’ you will need:
- Approved Social Energy HUB & storage battery.
- Smart Meter.
- Download the ‘Social Energy’ app.
All of these things will be reviewed upon a home survey.
You will need a home suitability survey before anything else to get started. This is to make sure you have everything you need. If there is anything outstanding, an approved installation company that surveys your home will be able to tell you free of charge.
The battery installation company you choose will also give you a quote & will help get you set up with the app via the Apple ‘App Store’ or Google ‘Play Store’ do you can manage the energy you trade through a ‘time-of-use-tariff’ utility company like Social Energy.
The switch from your current utility company to ‘Social Energy’ is as painless as signing a form (no contract, as you can leave anytime).
Once you have your quote to install the approved solar storage unit it will take up to 28 days to complete the switch which is carried out by ‘Social Energy’.
Interested? Move from your current utility provider to start maximising the money-saving capabilities of your solar panels. We can help, contact us.
We can complete an in-depth home suitability survey & if suitable provide a battery storage quote. We can then help with the transfer to Social Energy.