Tesla Energy’s Powerwall 2.0 is one of the leading battery storage solutions on the market. But at around $15,000 per unit, this is not exactly an impulse buy. Many homeowners are asking the question “Is Tesla Powerwall worth it?” before dipping into their savings accounts.
The answer, of course, is “It depends.” In addition to the long-term savings potential, the Tesla Powerwall 2.0 has multiple advantages that help justify its high cost. But whether or not that makes it the right choice for you will depend on several factors.
Read on to gain insights into whether or not the Tesla Powerwall is worth it for you.
How Much Does It Cost to Purchase and Install the Tesla Powerwall?
First things first, let’s look at the numbers. When purchased from Tesla, the cost of one Powerwall battery is approximately $15,000 as of September 2022. A single backup battery is enough for most homes, but some require more than one Powerwall depending energy needs and usage.
Some installers (like Solar Optimum) will also offer a discount on battery storage if you purchase solar AND battery storage together as a bundle.
You can also save through the Solar ITC Credit. The Tesla Powerwalls qualify for a 30% federal tax credit. Listed below are the eligibility requirements:
- Your Powerwall must have a renewable energy source such as solar or wind.
- If the Powerwall is intended for home usage, it must draw all its power from renewable energy sources.
- If the Powerwall is intended for use in business premises, it must obtain 75% or more of its power from renewable energy sources.
Is Tesla Powerwall Worth It?
Aside from cost savings, there are other benefits that make the Tesla Powerwall 2.0 a worthwhile investment. Here are some of the reasons why:
A Tesla Powerwall is worth the cost because it allows you to save money in the long term. Even though the initial cost of acquiring one might be significant, you don’t have to pay a dime for the power it provides. The unit also has minimal maintenance costs and allows you to recoup your initial investment by offsetting your typical power bills.
2. Emergency Preparedness
Natural disasters and extreme weather events may disrupt the power supply on electrical grids. Such disruptions result in power outages that may persist for hours or days. Tesla Powerwall helps prepare you for emergencies by guaranteeing a steady power supply in your home or business.
The power system also gives you peace of mind during power blackouts.
3. Environmental Benefits
The Tesla Powerwall stores energy from clean, renewable energy sources such as solar and wind.
A significant proportion of power in the country’s electric grid comes from non-renewable energy sources such as coal. Tesla Powerwalls reduce energy demand in the country’s homes and businesses. Deploying the units also minimizes the environmental pollution occasioned by burning coal and other fossil fuels.
Protection Against Power Outages
The Tesla Powerall 2.0 provides many benefits to homeowners who want to save on energy costs, reduce their reliance on grid power, and improve their communities. But this doesn’t mean it is the best investment for everyone.
Contact Solar Optimum today and we will help you determine if the Tesla Powerwall 2.0 makes sense for your home. Our Energy Coordinators are standing by!