Energy

Lowering Your Energy Bill: How Combining Dynamic Pricing and Home Battery Storage Can Save You Money

Introduction

In today’s energy and climate crisis, prices for energy such as natural gas for heating and electricity have risen significantly in recent years, with prices at least two to three times higher than in past decades. This is particularly true in Europe, where affordable natural gas from Russia is currently not available. The price of electricity is also closely linked to the price of natural gas, so even when clean electricity is generated through wind, solar, and nuclear power, the price is still higher than what we are used to. This is due to the demand for and availability of electricity, which is typically high during the day and in the evening, but low during nighttime. When there is no wind or sun, electricity is generated by gas, coal, and lignite power plants, which is harmful to the environment. The mix of energy and the linked gas price drives up our energy bills.

My solar energy and Tesla Powerwall 2 setup

Saving the planet a little bit while trying out new technology is fantastic, and in the end, it will save me also some money. When building my house last year, I invested in solar energy. The sun delivers me free electricity during the day, especially around noon, but I use it mainly at the end of the day and the beginning of the evening. Most of my solar energy goes to the public energy grid, and I need to repurchase it in the evening. This buying back makes no send to me. I like to use my own ‘free’ solar energy, so I need a way to store it. After some research, I selected the Tesla Powerwall 2 for my energy storage, not only for the best capacity, but my energy company (Eneco) had a good deal (2.500,- euro cashback). In the Netherlands, I can also get the tax back I paid for the solar and Tesla Powerwall 2 energy installation, an extra savings of 21%. The investment is still high, but after 5 or 6 years, it should be making money.