Energy storage is the capture of energy produced at one time, for later use. A device that stores energy is generally called a battery. The most common form of battery is the lithium ion, rechargeable battery, which stores chemical energy readily convertible to electricity.
How home energy storage works
Home energy storage helps balance a home's electricity production and its usage over the course of a day.
Solar panels produce most of their electricity during the middle of the day when the sun is high. During that time the solar panel's production is also higher than the electrical demand of the home. This excess electricity produced is stored in the battery. As the sun goes down and electricity production decreases, or during the night when there is no production, the energy stored in the battery is used to power the home.
How long do home batteries last?
Lithium-ion batteries, like those in your phone, lose their carrying potential through cycles of charging and draining, over time.
The LG Chem RESU batteries which we recommend are covered by a 10-year warranty. So, if the battery malfunctions or loses more than 40 percent of its storage capacity, it can be replaced under their warranty.
How much do home batteries cost?
The RESU10H, which is the only LG Chem RESU battery available in the U.S., is priced between $6,000 - $7,000. This does not include the inverter for the battery (ranging from $2,000 - $3,000) or the cost of installation ($1,500 - $3,000) which can change depending on installation specifics.
Some states offer financial incentives which can reimburse part of the cost. Contact us for more information.