Researchers at the Energy Department (DOE), its National Renewable Energy Laboratory (NREL), and the Rocky Mountain Institute presented a report with cost breakdowns for residential solar-plus-storage systems in the U.S, with a plan to provide constant updates in order to track progress in cost reduction.
The table below shows the total installed cost for residential photovoltaic (PV)-plus-storage systems in 2016 U.S dollars:
|Type of system
|Cost in USD
|5.6-kW PV + 3 kW/6 kWh battery, DC coupled
|5.6-kW PV + 3 kW/6 kWh battery, AC coupled
|5.6-kW PV + 5 kW/20 kWh battery, DC coupled
|5.6-kW PV + 5 kW/20 kWh battery, AC coupled
According to the report, these figures are costs for solar and energy storage systems installed at the same time.
The cost for an AC coupled system with the smaller battery was USD 32,786 if the battery is added to an existing array.
The study shows that the combined PV module and battery cost for the systems, even if alternating current (AC)- or direct current (DC)-coupled, is nearly USD 6,600 and the rest comes from inverters, balance-of-system components, supply chain costs and various soft costs.
Hardware costs represent about half the total price of the modeled PV systems with 3 kW/6 kWh battery and about 60% for a system with the larger battery of 5-kW/20-kWh.
Energy storage products have the potential to optimize the value of rooftop PV while increasing the flexibility of electricity consumers and enhancing grid operations.
We highly recommend you read the complete report from NREL.