Tesla's Powerwall set to shake up the Australian energy market
Australia is set to become one of the first countries to receive Tesla’s solar powered storage unit later in 2015, the Guardian recently reported.
The reason Tesla is targeting the Australian market, explained the Guardian was because it is ripe for change with high electricity prices, excellent sun and lots of rooftop solar.
Powerwall works by storing electricity generated from solar panels, holding up to 7kWh of power at any given time.
According to Tesla without a home battery, excess solar energy is sold back to the grid. Whereas with a home storage unit like Powerwall, homeowners can store this energy in their battery and use it in the morning or evening.
Tesla explained on its website, “In Australia, the price you are paid for the excess solar power your home generates is lower than the price you pay for electricity from the utility grid.”
“Given this rate structure, it is more cost effective to consume your solar power than to sell it back to the utility. By storing your home's surplus power and using it when you would otherwise need to pull from the grid, Powerwall minimises your net spending.”
Apart from the potential savings made, homeowners that live in areas prone to storms or with unreliable utility grids will have the peace of mind that the Powerwall unit automatically switches to battery power in an outage.
You can find out more about how Tesla’s solar powered storage unit works here or if you’re looking to get a better deal on your energy plan, compare some of the top deals in the market in our energy comparison section.