If you’re looking for a whole home battery backup, one option you’re probably looking at is the Tesla Powerwall.
While Tesla is best known for its highly popular electric cars, there’s more to the company than that. Tesla also makes solar panels, solar roofs and a home battery, named the Powerwall.
While there are other options for homeowners, the Powerwall is a very popular option for people looking to get a battery backup for their home.
It’s so popular, in fact, that Tesla doesn’t sell them as a standalone product any more. If you want one, you have to buy it as part of a system with either their solar panels or a solar roof.
So, if you want to add one to your home, along with solar panels/roof, how much will it cost you? Let’s dive into the costs of a Tesla Powerwall below.
How Much Is A Tesla Home Battery?
Unfortunately due to demand and rising prices everywhere, the cost of Tesla Powerwalls are on the rise.
It used to be you could buy one for $3,000 when they first came out. Then they were right around $7,500 – $8,500 for a while.
Now, the cost of a Tesla Powerwall is $11,500. This does include installation costs. It also includes other necessary equipment costs such as an inverter.
However, if you need any additional upgrades such as to your main electrical panel or for hidden conduit, the cost will go higher.
And that is just for the cost of 1 Powerwall.
If you need 2 Powerwalls, the cost goes up to $18,500 and 3 will cost you $25,500. So basically an extra $7,000 for each extra Powerwall you get after the first one.
Tax Credits For the Tesla Home Battery
The good news is that, at least for now, you can get a federal tax credit to help pay for the cost of your Powerwall.
That means a 30% tax credit which includes all equipment and installation costs.
With the tax credit, you’ll knock $3,450 off the cost of the battery bringing the total cost down to $8,050 for 1 Powerwall.
If you get 2 Powerwalls, the tax credit will save you $5,550 and drop the cost to $12,950.
So, if you’re in the market for one, the sooner you act, the more you will save!
Other Whole Home Battery Options
There are two main competing batteries available on the market right now that have make them competitive with the Powerwall in terms of quality and performance. They are the Generac PWRCell and the Enphase IQ Battery.
As a comparison, the Tesla Powerwall has a storage capacity of 13.5 kWh, continuous power of 5.6 kW, and peak power of 10kW.
For a base price of $9,999 before installation, the Generac PWRCell offers a storage capacity of 9+ kWh, continuous power of 3.4+ kW, and peak power of 6kW.
Meanwhile, the Enphase IQ Battery costs $18,000, and offers a storage capacity of 10.08 kWh, continuous power of 3.84 kW, and peak power of 5kW.
Is a Tesla Powerwall Worth It?
Whether or not a Tesla Powerwall is a good investment will be determined largely by your home, needs and financial situation.
According to some, having a way to literally keep the lights on in areas where homes are more frequently subjected to power outages could make Powerwall an excellent choice.
Either way, the Tesla Powerwall is an innovative product that works well. And, if you decide the cost is worth it for your situation, you’ll likely be quite happy having one, or more, in your home.