- Why are we less expensive than the competition?
- How do we save you more than the competition?
- How much will this system save me on my electricity bill?
- How will future government or utility rebates impact on my savings?
- How will future government or utility rebates impact on my backup service?
- What warranty are you offering?
- What happens if I have a non-standard installation?
- What happens if I cannot fit that much solar on my roof?
- How long will this system power my house for during a blackout?
- How much does it cost to control my electric water heater?
- How can I access this offer if I live more than 50km from the Sydney Harbour Bridge?
The ElektroBank is less expensive than the competition per warranted kWh because we offer an all-in-one device that saves on installation and integration costs, we have lower overheads and profit margins than the competition, and we market directly to consumers, saving on sales costs. Our business model also assumes future rebates from government and utility sources. This all adds up.
The ElektroBank offers the lowest cost per warranted kWh of the seven most popular solar-storage solutions we assessed (current as of 13 Jan 2019), including the cost of the inverter but excluding the cost of installation. The ElektroBank costs 27 cents per warranted kWh compared to most of the leading storage brands in Australia, which cost 35 cents per kWh on average and up to 40 cents per kWh.
For people installing storage at the same time as their solar PV systems, the savings are even higher, as the ElektroBank is an all-in-one unit, meaning its installation costs are effectively free in this scenario. No other all-in-one solution is currently available in the Australian market to our knowledge.
Please contact us if you would like more information regarding the above analyses.
The ElektroBank automatically adjusts to changes in household and solar PV output in real time to minimise the amount of energy exported at lower value. This maximises the amount of solar PV energy used within the house, which is always more valuable than when exported.
The ElektroBank also automatically adjusts to changes in household and solar PV output in real time to minimise the amount of energy used during the peak period, minimizing relatively high, peak period charges for households on a Time-of-Use rate.
The figure below, from one of our customers, shows the ElektroBank completely offsetting peak period consumption. This occurs every day that there is sufficient solar PV output. On cloudy days, the ElektroBank automatically charges from the grid to minimise peak period consumption.
We estimate that the ElektroBank delivers 85-95% of the system’s theoretical value, i.e. if we knew exactly what tomorrow’s solar PV generation and load would be. 90-95% of our performance is due to our ability to read the front of house meter to detect if exports or imports are occurring. This means that 5-10% of our performance is due to our ability to forecast solar PV generation and load patterns.
How much you save with this system depends upon your retail electricity contract, how much electricity you use and if you have a smart meter, when you use it. You can see how much a typical electricity consumer would save with our system here.
Analysis of our system’s impact on actual residential load data in NSW shows our 7kW solar PV and 14kWh storage deal resulting in a net refund for consumers using 5MWh of energy per annum, and a 47% bill reduction for electricity consumers using 15MWh.
In order for us to offer this unprecedented deal, we are expecting to secure future government and electricity industry rebates. Industry rebates may require operating your system to reduce industry costs. However, Empower guarantees that you will be no worse-off if this occurs. You will be 100% compensated for any solar PV or battery energy used to obtain the industry or government rebate.
Although the system can reserve a portion of the battery to provide backup in case of a power outage, this reduces the benefits from its operation proportionally. In order for us to offer this unprecedented deal, we need for the full capacity of the battery to be available for government and utility rebates. During an outage, the unit will provide you with 100% of the available energy in the battery.
Empower Energy’s ElektroBank hybrid inverter and storage warranty is among the best in the industry, with a 10-year, 40MWh of energy guarantee. A comparison of warranty terms from leading storage equipment providers is available here, please let us know if anything is out of date here.
Our installation costs assume a basic installation cost. Examples of situations that are excluded from a standard installation include major rewiring of your switchboard, tilting of your solar PV or a tile racking system, working at heights and the need to pour a cement plinth.
We offer a free* site assessment to positively identify whether you have a standard installation or not. The assessment will provide a list of extras and a no obligation quote if your installation is found to require additional work above that which is included in our standard offer.
Empower’s installation team will strive to fit all 7kW on to your rooftop. However, if we are unable to fit all of the solar PV on your roof, we can install a 6kW or 5kW system, for slightly less. The reason that the lower solar PV systems are not much less is due to the available government rebates, which favour larger installations over smaller ones, at least for our solution.
The ElektroBank can power up to 5kW of your house’s load for up to 2.8 hours at maximum load. However, most houses only use 1-2kW per hour, so you may be able to run for 7-14 hours without power. Also, the ElektroBank can run off of solar PV during an outage, increasing operating times.
Please note that only simply backup configurations are included in the standard offer. Significant rewiring of your switchboard will incur an additional cost.
The ElektroBank can control the timing of electric storage water heaters. This requires an additional circuit breaker and potentially some extra switchboard wiring. Please mention you would like water heating control during your free* site assessment.
How can I access this offer if I live more than 50km from the Sydney Harbour Bridge?
Empower is planning on expanding to rural NSW and other states in the near future. We suggest you add your name to our waiting list, and we will notify you of any plans to make your location eligible.
*Free Site Assessments and Free Benefits Assessments are available for homeowners in NSW with space for at least 7kWh of batteries and 5kW of rooftop solar PV.