Arizona homeowners using energy storage batteries to save on utility bills
GILBERT, AZ (AZFamily) — One new way Arizona homeowners are taking control of their utility bills and saving money is with an energy storage system, especially during the extreme heat.
Gilbert homeowner Rick Tope said his monthly bills keep getting more and more expensive. “The highest one was last July,” said Tope. “I paid $475 that month.”
A few months ago, Tope heard about a new energy storage system that lets homeowners store energy during off-peak hours, so the energy can then be used during the most expensive high-peak parts of the day.
“This was a no-brainer for me,” said Tope. “I looked and said, ‘This is easy because I am in control of my home. That’s my battery, that’s not some power company’s battery, not some vendor’s battery. I paid for it and now I get the energy benefit from it.’”
Greg Field is the owner of PGT Home Energy Solutions, one of the Phoenix-area companies that recently rolled out the energy storage systems. Field said that by allowing homeowners to store their energy, they can dictate what energy savings plan they want to be on with their utility provider.
“The idea is, the battery stores inexpensive off-peak power at night and morning, and then it runs the battery against the grid, that drops the cost of power by 60%,” said Field. “Most APS clients are paying a blended rate, on peak and off peak, 17 cents per kilowatt hour, and with battery and the ‘demand plan,’ we can drop that to less than 6 cents per kilowatt hour.”
The system uses big grid-charged batteries that are installed on the side of someone’s house. The batteries Field’s company uses are made by Tesla.
Tope had his grid-charged battery installed a couple of months ago and says he’s already saving money.
“About a 30% reduction in what I’ve been consuming, because I am now buying low and using during high peak periods,” said Tope.
The big question is, what does an energy storage system cost?
Field says it’s around $15,000, but with federal and state tax credits, the price drops to around $10,000, if you install it by the end of the year, with most customers recouping their investment in about five years.
The federal tax credit for solar and energy storage systems will expire at the end of 2025. Tope is convinced he will come out ahead.
“It’s a big decision, but I think it will pay off,” said Tope. “I’m pretty confident.”
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