Cost analysis: Solar Batteries vs Traditional Energy Resources
Solar batteries have emerged as the closest and the biggest competitor of traditional energy resources. Because of attractive claims like reduced bills and grid efficiency, more people are switching to it.
Nevertheless, before making a final choice, it is crucial to know if solar batteries are actually worth switching to. So, keep on reading. The forthcoming content will discuss an unbiased and in-depth cost analysis of solar batteries vs. traditional batteries to help you decide better.
Without any further discussion, let's dig into the content.
Cost analysis of solar batteries and traditional energy resources
The total cost of solar batteries and traditional energy resources is divided into multiple aspects. To understand which is more cost-effective, we will look at each factor separately.
1. Upfront and installation cost
One of the primary considerations when choosing solar power is its installation cost. It requires photovoltaic cells panels, inverters, wiring, etc. Generally, the upfront cost of solar batteries, including all purchased components, labour, and wiring, is between $10,000 and $30,000.
The exact amount, however, varies according to the size and complexity of the installation. However, in some countries and regions, the Federal Investment Tax Credit (ITC) provides up to 30% of the total installation cost as a tax credit to ease the installation.
If you want to take advantage of this facility, contact the authority office in your area or search online. On the other hand, traditional infrastructure is way more cost-effective regarding upfront costs.
You only have to invest a little because the builders and government usually set it up. So, when you move into a new house or home, you do not have to bear any additional upfront cost.
Yet, do not think of it as a free facility because builders have already covered that cost in the total cost of the house of office space.
2. Operational and maintenance
Solar power systems require minimal maintenance compared to traditional energy distribution systems. All you need to do is regularly clean your solar battery and place it in a cool and dry place that is not easily accessible to kids and pets. And that is pretty much it.
Furthermore, as solar batteries store energy, the operational cost of making energy is 0. On the other hand, traditional energy resources are very high maintenance. They are operated through power plants, which require continuous maintenance and upgrades to cope with changing needs.
The operational cost of running the plants is much higher than that of solar batteries because they need consistent fuel to make electricity.
3. Long-term saving
Once you have coped with the initial investment, solar batteries provide free electricity for decades. No matter how much electricity you use, you would not have to bear any additional cost. The same is why homeowners can save hundreds and thousands of dollars and invest it in any potential project.
The government also provides multiple incentives and rebates to enhance the adoption process further, thus increasing the cost-effectiveness of solar power systems.
Traditional energy resources, however, do not provide any long-term savings. You Have to pay the bill after the end of every month. Hence, in order to save money, you have to drastically lower consumption.
4. Environmental cost
Environmental impact is another crucial factor for all those who care about the environment. Solar batteries do not emit harmful greenhouse gases into the environment. In addition, they last for decades before being dysfunctional, which contributes to creating an eco-friendly environment and promoting sustainable living.
Hence, you do not have to install an air purifier to cope with the issue. Traditional energy resources usually rely on fossil fuels to create energy. Hence, you might have to install air-cleaning devices and take care of their maintenance.
5. Replacement costs
Replacement is another thing that can cause significant money losses. Solar batteries are way more sustainable and durable. Generally, solar batteries last for 7 to 15 years, depending upon size, functionalities and durability.
At the same time, there is no exact time span for a traditional energy system to last. Such resources are fragile and can become dysfunctional at any point, depending on the circumstances.
For instance, if a short circuit occurs in your house, the wiring will be damaged, causing you to spend a significant amount of money on replacement.
6. Resale value
Solar batteries help increase resale value, ultimately covering the initial upfront cost. Potential buyers do not hesitate to invest a little bit extra to gain a life-long benefit, as they can attain free electricity even when the sun is not present.
The traditional power resources, however, do not provide any such benefit.
Solar batteries vs. traditional energy resources- which one is better?
Based on the above analysis, we can say that solar batteries are way more cost-effective than traditional power resources. They not only help to use free energy but also reduce maintenance and environmental costs and facilitate long-term savings. Although they have a slight extra upfront cost, it is covered by the increased resale value.
However, it is integral to purchase such batteries from a reliable source to eliminate all the chances of battery failures and scams. Innotinum, with years of experience, is a safe service to invest in. It offers an extensive range of batteries to meet your needs and preferences. The offering list includes:
1.IES-H0:Offers the capacity range of 7.6 kWh to 114kWh.
2.IES- H1: Offers a capacity range of 7.6kWh to 95kWh.
3.IES- L0: Offers the capacity range of 6.6kWh to 118.8kWh.
Furthermore, consider purchasing their amazing and efficient inverters to set up a fully durable solar system.
The bottom line
Solar batteries today are considered one of the most cost-effective alternatives to traditional power resources. We have formed the guide above for those who are confused if this claim is true or not.
It discusses an unbiased cost analysis of the solar batteries vs traditional energy recourse, discussing all the costs associated with it separately.