What are the benefits of having a home battery?
Choosing to add a battery to your solar system? Each year, more and more Australian households join the solar revolution by adding solar batteries. Having an LG Home Battery can provide a myriad of benefits and can be a great investment for your home. Here are some of the most important reasons as to why you should consider a home battery.
1. Energy independence
Solar panels allow you to create energy but not store it, the excess energy the solar panels generate gets sold to the grid. Batteries allow you to keep the energy you generate at your home, ready for when you need it most. This means that you have less reliance on the grid, all the energy production and storage happen in one place.
2. Blackout protection, battery backup
The LG Home Battery provides blackout protection. If your energy grid experiences an outage, then your battery will be able to take over and power your home, you could be the only house on the street with power! This could be extremely important if your house is in an area which is prone to blackouts or extreme weather events where damage to the grid and power lines can cause your neighbourhood to be out of power for hours or days. With a home battery, the chance of a blackout at your home is greatly diminished.
How much backup your battery provides is dependent on the battery size, how much power you use and for how long.
3. Reduce greenhouse emissions
Depending on your state in Australia, the way electricity is generated for the grid will vary. Fossil fuels contributed to 79% of total electricity generation in 2019. Victoria, Queensland, and New South Wales are the three states which consumed the most coal to generate electricity.
By renewably generating your electricity at home, you are bypassing the current reliance on fossil fuels. By using less energy from the grid, you are directly contributing to fewer fossil fuels being consumed within the energy industry. Solar panels and batteries are a much greener option if one wants to reduce their carbon footprint.
4. Reduction in your energy bill
Using a home battery can significantly reduce your electricity bill because you are having to buy less energy from the grid. One of the contributing factors is that you bypass energy price shifting where your energy provider will make electricity more expensive during peak hours. With the use of an LG Home Battery, you will barely have to worry about an increase in electricity prices.
5. Energy trading
Solar technology has advanced to the stage where you can act as your own energy plant towards the grid, trading energy back and forth. Electricity providers request energy from solar batteries because it can lead to beneficial effects on the grid through minimising the peak demand and dampening the energy wholesale price spikes. Therefore, fitted with an LG Home Battery, you will be able to trade the energy you have generated back to the grid at a premium price. This ability is made possible through energy trading partners who use software to manage the energy transfer between your storage battery and the grid. These management systems ensure that your energy is sold at the right time for maximum earnings and bought from the grid at the cheapest price.
Trading on the grid is part of the virtual power plant (VPP) program which the LG Home Battery provides. If you are interested in finding how a VPP can help you save on finances and expand your battery capability, then you may also like our blog describing the VPP program.
If you are looking to maximise your solar production and reduce electricity costs, then choosing to opt for solar panels and an LG Home Battery will help you power through both day and night whilst minimising grid reliance.