Solar batteries are gaining popularity as a useful addition to solar panels. The technology continues to grow year over year, as more homeowners tap into the maximized benefits that a battery can bring to their solar system. Batteries offer increased resilience and energy independence, allowing homeowners to store and access their generated energy whenever it is needed. While batteries can be a steep initial expense, financing can help break the cost into manageable monthly payments.
Here are a few must-know facts about solar batteries, perfect to share with your peers or prospective customers!
1. The solar battery market grew 65% year-over-year
- Last year, the U.S. added 10.9 GW of battery storage capacity, a 65% yearly increase.
- Texas is the fastest-growing market in the U.S. for grid storage, adding nearly 9,700 megawatts to the grid in 2024.
- Although Texas’ yearly growth is impressive, California still tops the charts for overall capacity with over 13,300 MW statewide.
- Over 50 battery manufacturing facilities have been announced since the IRA. These facilities can support nearly 17,000 jobs, and expedite the growth and availability of batteries.
2. Batteries can help stabilize the grid
- Solar batteries not only create resilience for the homes that install them – they actually help every home connected to the grid, and important community buildings such as schools, hospitals and businesses.
- Batteries do this by giving stored energy back to the grid. During peak demand times when the grids can be overburdened, batteries can reduce black outs for the whole neighborhood.
3. Solar batteries can increase the life and efficiency of your solar panels
- As batteries store excess energy, they’re also taking out the back-and-forth between the system and the grid; reducing strain on the solar inverter.
- Batteries also help harness more of the solar energy that panels produce. Without a one, solar panel power loss can be as high as 18%.
4. Homeowners can qualify for up to a 30% tax credit
- Since the Inflation Reduction Act was passed, qualifying tax payers can receive up to a 30% tax credit on their solar battery system.
The legislation can make solar battery systems more affordable for more households. - Homeowners should always consult a tax professional to learn more about the tax credit and whether they qualify.
5. Battery recycling is on the rise
- Some system batteries, especially lithium-based models, can be complex to recycle. However, many companies are taking on the challenge to make recycling more cost-effective and easy.
Their efforts would create closed-loop systems, where batteries are recycled into new systems, reducing waste and making the technology more eco-friendly. - For homeowners with batteries in disuse, they can work with their solar installer or the battery manufacturer to follow the proper recycling process and safely dispose of their battery.
Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. Solar Mosaic LLC originated loans to California borrowers: Loans will be arranged or made pursuant to California Financing Law License 60DBO-180554. Equal Housing Lender.