In the last couple of years, people have rushed to buy solar panels, electric vehicles (EVs) and heat pumps like never before. They’re a great way to protect yourself against rising gas and petrol costs. But there is another device, much less talked about, which is starting to take off and potentially offers even greater cost savings: the home battery.
Nine times out of 10 households are buying these batteries at the same time they get solar panels, to help store some of the electricity they generate. But households without solar panels can still benefit from having a battery and this is expected to become increasingly common as people search for ways to keep a lid on energy bills.
Until fairly recently, batteries were so expensive that it didn’t really make any sense to buy one, regardless of how well-off you were. But costs have dived by about 90 per cent since 2010, according to Octopus Energy, as they became more efficient and cheaper to make – in large part because the price of lithium, a key component, has fallen sharply.
As a result, certified battery installations in the UK more than doubled last year to 41,057. This year so far, installations have increased by a further 50 per cent, with 96,054 homes now having one, according to the Microgeneration Certification Scheme, which registers most household renewable energy installations.
