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How to choose your Residential Energy Storage Product?

 In the Energy Storage Industry, there are mainly two kinds of energy storage products. Both of them are sharing the same target - cutting down the needs of energy. However, the ways to achieve are different. One is based on the TOU (Time-of-Use) plans of electric supply companies, such as iCAN and xStorage. And one is relied on the residential solar power, such as Powerwall and sonnenBatterie.

 

How they achieve the target?

As to iCAN and xStorage, the users should join in the TOU plans first. Under the TOU plans, your housing electric cost will be different a day, basing on the power usage in peak and off-peak time. The energy storage product will charge in off-peak and recharge in peak, to reduce your cost.

 

As to Powerwall and sonnenBatterie, the users will need to add the residential solar panel system to housing electric grid. So the housing power will come from two ways, one is the surplus power stored by solar panel, and one is the conventional power grid - when the solar power is low. Which kind of power will be used more will be depended on the climate and your needs.

 

To the users, I think the two most important thing need to be sure are:

1, how much the product will help to reduce the monthly power cost?

2, does the product cost too much that beyond the saved power cost?

 

Comparing Sheet of Four Energy Storage Products

对比 拷贝_meitu_1.jpg

iCAN vs Powerwall

As we are analyzing the USA energy storage product. So let’s take the iCAN and Powerwall for comparison to answer the two questions of users.

Since the iCAN performs with the TOU plans, we take the latest PG&E’s EV-A plan as an example.

At summer: The price of peak is $0.44385. The price of off-peak is $0.11465.

At winter: The price of peak is $0.3121. The price of off-peak is $0.1174.

The iCAN’s capacity is 2kWh, however, it will need 2.47kWh for fully charging.

 

Summer:

Each Circle Savings=$0.44385*2kWh-$0.11465*2.47kWh=$0.6045145

Total Summer Savings=$0.6045145*30(days)*6(months) =$108.81261

Winter:

Each Circle Savings=$0.3121*2kWh-$0.1174*2.47kWh=$0.334222

Total Summer Savings=$0.334222*30(days)*6(months) =$60.15996

 

So, in the whole year round, the estimate saving will be: $168.97257. As the retail price is estimated to be $799, the total pack back period will be 4 years and 8 months. 

 

On the other hand, in order to show fairness, we quote a group of data from the essay “How Long Does It Take to Pay Off a Tesla Powerwall?” , which showing how much power the Powerwall can save.

Powerwall

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Pay Back Period

Years

Money Saved Each Year

Installed Cost of Power Wall

$7,340.00

With Solar

31

$239.42

Installed cost of solar system

$3,570.00

Without Solar

38

$93.20

On-Peak Rate (KWH)

$0.15

 

 

 

Off-Peak Rate (KWH)

$ 0.06

     

 

 

 

 

 

 

 

 

 

The result is really surprise. Even with the solar power, the Powerwall will save $70.44743 more than the iCAN.

But you will need a least 31 years to cover your installed cost. Besides, the estimate life for batteries is 10 years. So, you need to add the cost of battery changes into the total cost.

 

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