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Shock! Horror! But in a good way. Rumours of a Tesla Powerwall price drop turned out to be correct. Now it’s just expensive.
Since originally released around 6 years ago, Powerwall (2) has proven very popular in Australia. There were hopes the arrival of Powerwall on the scene would accelerate price reductions in solar battery storage. And it looked like this would be the case for a short while when you could get one installed for under $10,000.
But in 2018 the price jumped significantly. There were more increases than decreases from that point and the cost of Powerwall shifted into ludicrous mode late last year. In October 2022, it jumped to more than $16,000 *without* installation. However, after three consecutive price increases over a period of 7 months, good news arrived late last week in an email from Tesla to installers, which stated:
“We are pleased to inform you that due to ongoing improvements in supply chains and foreign exchange, the price of Powerwall will decrease as of Friday 24th February 2023.”
The reduction isn’t just a token amount – it has dropped from a previous recommended retail price of $16,230 inclusive of GST to $14,599; so a reduction of $1,631. That’s on par with pricing in May last year, but still significantly more than it was prior.
And on that note..
The following are Australian pricing movements on Powerwall we’ve been tracking over the years. Note the prices are for the battery and supporting hardware only. Installation can whack on a couple of thousand dollars these days even for a reasonably straightforward installation.
We’ve also updated our spiffy graph to include the latest price change.
If you’re considering holding off buying a Tesla Powerwall in the hope of further price decreases in the not-too-distant future, as the good book counsels: “For who has known the mind of Elon Musk, so as to instruct him?”. I think I’ve quoted that correctly.
As you can see from the list and graph above, Powerwall pricing has been a bit all over the place and that could continue. But here’s hoping the latest change is the start of a downward trend.
Also bear in mind Tesla isn’t the only solar battery brand around. There are a bunch of other home energy storage options available in Australia. Back in November, SQ’s Anthony provided details on eight Powerwall alternatives to consider.
And before you whack down a wad of bucks on a Powerwall or any other battery system for that matter, check out SolarQuotes founder Finn’s guide to buying solar batteries.
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Michael caught the solar power bug after purchasing components to cobble together a small off-grid PV system in 2008. He’s been reporting on Australian and international solar energy news ever since.
Good news. It’s interesting that government subsidy for solar is still mostly for generation, and not for storage. Given the problems ‘solar taxes’ are now under discussion about, to curb some export to the grid, it seems strange that they don’t alter the subsidy regime a little more, to include storage as well.
Maybe for grid engineering reasons they don’t want too much personal storage on the grid, who knows.
We run holiday accomodation and put in both panels and batteries plus changeover the gas hws to 310 litre electric units on timer. Pay back is now about 4 years. No annual bill. Over a 2 year time frame it started with first lot of panels, then later more panels and batteries, then adding the cheapest electric hws with timers. Now we net export about 7 times what we draw back. It was not rocket science but was best to take it gradually so we saw our usage and production patterns over time
Kevin
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