Home batteries cost thousands. So why would 91% of owners buy one again?
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Some homeowners are battle-scarred from power outages that left them scrambling to maintain the basic necessities of their household. Others are tired of getting pummelled by surge pricing for peak demand energy on their electric bill.
While a range of experiences can catalyze someone to explore home battery storage as a solution, the price tag puts it firmly in the category of "investment" rather than one-off impulse buy.
The best home batteries can cost several thousand dollars, often reaching well into the tens of thousands, which brings into play a different calculus for judging the value of the investment compared to what one might apply to a Black Friday deal.
Also: I talked to homeowners considering a battery backup - these are their biggest questions
For some owners, the savings alone make the cost easy to justify. But for others, the payoff is more about what the battery lets them do.
"If a battery were just a box that lowered your bill, that's beneficial, but it's not something you'd brag about at a party," said Bobby Pierce, head of marketing at Lunar Energy, a provider of home battery technology. "Being able to say 'I'm running 80% of my home off sunlight' is something people want to share."
Boasting to friends, family, and neighbors, though, does not seem to be a rare occurrence for those who have made the investment. A recent home battery survey from independent research firm Habitelligence suggests other battery owners feel the same sense of satisfaction. The data shows that 91% of battery owners said they would buy again, and 71% said their system exceeded (not just met) expectations.
However, those numbers don't mean every homeowner gets the same experience right away. Some see benefits quickly, while others wait a season or two before meaningful results come through. Here's what shapes those experiences and why so many owners still say they would buy a battery again.
Two homeowners can buy the same battery and end up with very different experiences.
For example, the day-to-day cost savings from a home battery in Texas could be substantial, especially with the variety of electricity plans available. States like Massachusetts, though, that have mostly flat-rate pricing throughout the day, don't offer the same wallet impact.
"Location is one of the biggest [factors determining a battery's value]. It's an abstract thing – a silent box on the side of your house that can deliver real value – so understanding how energy works where you live matters," said Pierce.
Source: ZDNet