The key drivers to invest in a solar plus battery system is basically return on investment. So energy arbitrage using your green generated energy day and night, rather than purchasing from the grid. Another big driver is backup power as well. So in different parts of the market there's lots of blackouts and that can cost them from hundreds to thousands of dollars per year. Maybe they're losing all their meats in their freezer, or it's affecting their business. So there's really big drivers, that's probably the two key ones. Energy security is really important, that's something that a battery can help you deliver.
Predominantly, it's very popular for the off-grid market, so people completely disconnected from the grid. A big driver for off-grid, the off grid applications, is not having to pay for the poles and wires to be connected to your property. So most people now that are building a new off-grid site will do that with a lithium battery and a solar system. But also they're used in more higher end homes, that have higher power requirements. It's very, very popular for areas where they have power quality affected regions. So that could be blackouts, cyclones, or bushfires.
You don't have to have a solar PV array system. So you could get an AC coupled battery system, so it's got inverter and a battery inside there and charge off the grid, and then discharge when you need the energy. But generally that's not done, it's not the most cost effective solution. Having a solar system there that's generating very cheap energy during the day it's the most cost effective solution. There's a lot of new comers into the market, new technologies coming out, different quality levels of batteries and inverters. We've going with the big brands and the ones that have a really proven track record, is really important to guarantee that you've got a warranty in a system that's going to work into the future.
What are the main reasons why homeowners invest in a solar battery storage system?
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