The cost of the Tesla Powerwall has been up for debate since its release, with figures ranging in various directions.
As of November 2021, there have been approximately 250,000 Tesla Powerwalls installed across the globe, spanning from the United States to Australia.
So why is the cost of a Tesla Powerwall still somewhat of a mystery? Surely we have enough real-world applications to establish an accurate estimated cost?
One such reason could be that a Tesla Powerwall’s cost differs from location to location.
For this reason, we thought it necessary to conduct our own study to provide you with some further insight into the matter.
In this article, we establish how much you can expect to pay for a Tesla Powerwall if it’s worth the money and what you can expect regarding a return on your investment.
As of 2024, the total cost of installing one Tesla Powerwall battery is $11,500, excluding any solar tax incentives.
The following table illustrates the price difference per number of Tesla Powerwalls purchased:
The cost of a single Tesla Powerwall decreases as you add more units to your home storage system. One Powerwall will cost you $11,500, while two will set you back $18,500 ($9,250 per battery). Tesla’s tiered pricing structure continues to the largest system possible: 10 Powerwall batteries for $80,500.
Generally, your home will require a minimum of 2-4 days’ worth of power autonomy during a prolonged blackout, which depending on your electricity consumption, will require around 1-3 Tesla Powerwalls.
When establishing our Tesla Powerwall quote, we spoke with a Tesla representative who informed us that the prices listed above include installation costs.
He also mentioned that Tesla no longer sells their Powerwalls individually. You must combine your Powerwall with a Tesla solar roof or the company’s solar panels.
However, you can still purchase a Tesla Powerwall on its own via certified installation companies throughout the U.S. This helps you avoid pairing it with a new solar system.
Unfortunately, going this route means you’ll end up paying more for your Powerwall — anywhere from $12,000 to $18,000.
Thanks to 2024 solar tax incentives, you can expect a 30% solar tax reduction on the price of your Tesla Powerwall. This brings the cost of a single Tesla Powerwall from $11,500 down to $8,050 — a savings of $3,450.
Check out your expected costs after the tax reduction.
To establish whether the Tesla Powerwall is worth the money, you must consider its price, levelized cost of storage (LCOS), warranty and overall abilities.
Below we created a comparison table indicating the following:
Doing this gives you a basic understanding of the Powerwall+’s worth. clearer idea of which option gives you the best value for money.
For the sake of this comparison, we’ll use the latest Tesla ESS model, the Powerwall+, along with its operating limit of 37.8 MWh aggregate throughput stipulated in the U.S. warranty.
First, let’s look at this from a purely financial standpoint.
As of November 2022, the average cost of residential electricity throughout the U.S. is 15.64 cents/kWh.
Before applying the 30% tax incentive, the Tesla Powerwall+ is 14.36/kWh more expensive than the average cost of electricity in the U.S, with the exception of Hawaii (43.91 cents/kWh) and New Hampshire (30.66 cents/kWh).
However, after applying the 30% tax incentive, it’s only 5.36 cents more expensive. This makes it cheaper than the average price of electricity in 9 states, including California.
As previously mentioned, the average cost of residential electricity throughout the U.S. is 15.64 cents. Without the 30% solar tax incentive, the Tesla Powerwall’s LCOS,is about 14.36 cents/kWh more.
As a result, Powerwalls are not commonly bought by homeowners to save money but rather because they live in areas that experience frequent power outages. Under these circumstances, investing in a Powerwall for would save you from frustration and make you more energy independent.
Additionally, they are also bought by homeowners looking to rely less on fossil fuels and more on their home’s renewable energy source.
We were able to figure out the payback period of both a Tesla Powerwall and its combined solar system.
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