Energy storage technologies have been around for some time now. However, the concept of solar battery storage has started picking up only now. The extra energy produced by home solar energy systems was earlier fed back into the electricity grid. However, due to various technological advancements, it has now become possible to store the extra energy produced by the solar panels. Solar battery storage is essentially a device that stores energy for later consumption and uses a connected solar system to charge itself. This stored energy can be used at night, during peak hours when demand for electricity is high, and during power outages. Solar battery storage allows users to use their solar panels more efficiently.
What is Tesla Powerwall?
In April 2015, automaker Tesla forayed into the home energy storage market with the Tesla Powerwall. The company has since launched many updates on its first version. Tesla defines its Powerwall as a rechargeable lithium-ion battery that supports liquid thermal control. As with the other sectors the company has ventured into, the company also managed to rebrand the residential-use battery sector with the Tesla Powerwall.
This solar battery backup system is ideal for homeowners who have opted for off-grid projects. Tesla Powerwall comes with an unlimited 10-year warranty. However, Tesla Powerwall is a pricey solar battery backup, and it will quickly set homeowners back by $8,500 to $16,000. This figure includes the price of the device as well as the installation costs.
What is LG Chem?
The home electronics giant, LG, has recently entered the American solar battery backup market space with LG Chem. LG Chem is an energy storage device that uses a lithium-ion RESU battery. This battery can work both as backup power as well as a tool that maximizes solar energy consumption in residential areas. LG Chem comes in a variety of sizes, from 2.93 kilowatt-hours to 12.4 kilowatt-hours. At the moment, the company has not revealed the prices for all of its battery sizes, but the 9.3 kWh LG Chem will cost homeowners anywhere between $6,000-$7,000. This figure does not include the installation fee. However, one of the most significant drawbacks of LG Chem is that it is not designed for off-grid use.
Both the batteries support a power output of 5 kW and a maximum peak of 7 kW. However, LG Chem wins in the area of round-trip efficiency. In comparison to Tesla, which claims 89% round-trip efficiency, LG Chem claims 96% round-trip efficiency. While both the batteries come with a 10-year warranty, LG Chem comes with a 60% retained capacity warranty. Tesla Powerwall, on the other hand, comes with a 70% retained capacity warranty, a percentage that matches the performance estimate of the other solar battery backup options available in the market. At $10,500, Tesla is pricier than LG RESU10. However, Tesla can be used for off-grid projects, a vital feature LG Chem lacks.
Maximize Your Solar Investment with Battery Storage
It is crucial to reduce dependence on problematic sources of power by promoting the use of renewable sources of energy. Unfortunately, most renewable sources of energy, including solar energy, are unavailable during peak hours. This has led to a growing demand for maximizing one’s solar investment with battery storage. Both Tesla and LG Chem are viable options. The decision to choose one over the other should depend entirely on your pocket and your expectations of a solar battery backup device.