- 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?
- 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 50 km from Federation Square in Melbourne?
Why are we less expensive than the competition?
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. This all adds up.
The ElektroBank offers the second lowest cost per warranted kWh of the seven most popular storage retrofit solutions we assessed (current as of 30 Apr 2019), including the cost of the inverter (where required) and the cost of installation. These prices are net of any available rebates.
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 inverter and installation costs are effectively free in this scenario.
Please contact us if you would like more information regarding the above analyses.
How do we save you more than the competition?
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, minimising 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 7 kW solar PV and 14 kWh storage deal resulting in a net refund for consumers using 5 MWh of energy per annum, and a 47% bill reduction for electricity consumers using 15 MWh.
What warranty are you offering?
Empower Energy’s ElektroBank hybrid inverter and storage warranty is among the best in the industry, with a 10-year, 40 MWh 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 7 kW on to your rooftop. However, if we are unable to fit all of the solar PV on your roof, we can install a 6 kW or 5 kW 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 5 kW of your house’s load for up to 2.8 hours at maximum load. However, most houses only use 1-2 kW 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 simple 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 50 km from Federation Square in Melbourne?
Empower is planning on expanding to rural VIC 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 with space for at least 7 kWh of batteries and 5 kW of rooftop solar PV.