The payback of electric energy storage batteries, which residents use to save money or to be able to use electricity even during power outages, can take 10 years or more, depending on the cost of the battery, Inion Software said in a press release.
R. Janickas
However, state support and participation in the electricity balancing process can significantly accelerate payback. Such a result was shown by a study conducted by the research team of “Inion Software”, according to which, in the three Baltic countries – Lithuania, Latvia and Estonia, the payback is practically the same.
For the study, the period of which reached from 2023 January 1 until 2023 December 31 To do this, Inion Software researchers chose a 10-kilowatt-hour (kWh) and 5-kilowatt (kW) battery, which is probably the most common type of battery used in a household.
It was based on and modeled with such data as the energy consumption of an average household, own house in the Vilnius region provided by the energy distribution operator (ESO).
The study was conducted with three scenarios
According to Inion Software’s technology manager Robert Janickas, three different scenarios were used in the research, in three Baltic countries – Lithuania, Latvia and Estonia. Looking at which of these countries could save you the most.
The first scenario is how much benefit the battery would generate, plugged in with nothing. When there is no solar power plant and no energy consumption. When a battery is connected to the mains of the house and trying to make money from the mains by buying electricity when it is cheap and selling it when it is expensive.
The second scenario is how much benefit the battery would generate when there is no solar plant, but there are energy consumers. In short, when the battery is connected and you want to try to save at least a little on the price difference. In such a scenario, the battery is usually charged from the shared network, but nothing is fed back into the network later because it is being consumed.
The third scenario is how much benefit the battery would generate when the solar plant is available and the energy consumption is available. In short, when the energy is generated by the solar plant and when the energy is consumed.
“First of all, it is worth emphasizing that we conducted the research according to Nord Pool – wholesale electricity prices. No additional administration, shipping or other fees.
We calculated that in the first scenario in Lithuania and Latvia it is possible to save up to approximately 407 euros per year, in Estonia – up to approximately 413 euros. In the second scenario, it is possible to save approximately up to 266 euros in Lithuania and Latvia, up to approximately 270 euros in Estonia. In the third scenario, in Lithuania and Latvia it is possible to save up to approximately 294 euros, in Estonia – up to approximately 292 euros”, RJ anickas shares the results of the study.
Support and participation in the electricity balancing process
Inion Software specialists, who are not related to the research on specific battery prices, believe that the payback of the battery will probably depend mostly on the price at which the battery itself will be purchased.
“Based on the research data and the different battery prices, it can be assumed that in the current market conditions, without any support, the battery can pay for itself in ten years or a little more. For example, if a 10 kWh battery will cost a little more than 4 thousand. euros, and you will save about 300 euros per year, then it will pay for itself after about 13 years”, says R. Janickas.
On the other hand, the technology manager of Inion Software notes that a user who wants to install a battery in his home can take advantage of state support for its purchase. It can also participate in ensuring the balance of production and consumption of the electricity system.
“Currently, it is more profitable to install a battery for those who can use support for the installation of electric energy storage devices – batteries. Which would double the payback time. The Environmental Project Management Agency (APVA) just started providing it last year to residents who purchase and install an iron phosphate electricity storage device or a lithium ion electricity storage device with a capacity of 0.5 kWh to 10 kWh and use it to store their own electricity.
In addition, having a battery suitable for electricity storage, a person can save a lot and speed up its payback by participating in the electricity balancing process. For example, the payback period could be shortened to 4 years”, says RJ anickas.
