Is $80,000 to lease two Powerwall batteries a fair price?
Project Details
We already have financed solar panels (cost $25,000 after rebates, generating 13,500 kWh/year) with SoCal Edison. The utility company is making things difficult for solar owners, largely due to costs from paying out billions for fire damages caused by their aging equipment. Our annual costs on top of the solar loan have increased significantly, from $600 in 2021 to $3,700 last year. Edison is reducing the amount of power we get back at night, driving up costs. We are considering batteries because Edison seems to charge most when the sun is down, and batteries would allow us to use stored solar power instead of Edison's grid power at night. We think batteries are the way to go, but we'd likely need a lot, which feels like a big financial risk. Spending $30k+ on batteries with a 10+ year break-even time is a hard pill to swallow, especially with college costs for our kids. We plan to live in this house forever.
Quote Details
This is a lease offer from Sunrun for battery storage. - Number of Batteries: Two Powerwall batteries - Structure: Lease agreement - Rate Cap: Capped at 3.5% increase per year - Claimed Benefit: Edison won't charge for the delivery fee (approx. $30/month) - Total Cost: $80,000 over 25 years - Ownership: Batteries are lost after 25 years
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More Details
Category
Solar
Price
$80,000
Quote Date
May 17, 2025
Location
California
Battery Storage?
No
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