Residential Batteries Are Not Yet Economical For Most Homeowners

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May 24, 2017

Solar vendors and battery providers including Tesla, Samsung, and Sunverge have pushed to promote and develop residential batteries. But, the financial upside isn’t quite there yet for most homeowners.

The New York Times reports that batteries are still very expensive, costing thousands of dollars for the unit itself, hardware, and installation. Traditional electricity, though, remains affordable, averaging $110 a month for the average U.S. home in February.

In coming years, battery prices are expected to drop swiftly, as Americans and utilities explore renewable fuels. Also, a recent sharp price drop in the cost of solar installations is expected to make batteries more cost-effective for homeowners who are overhauling their energy sources.

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