Battery Storage Tariff

Battery storage tariff
Home » Archives for April 5, 2024

Octopus Battery storage tariff

Best Octopus battery storage tariff.

If you want to lower your energy bill and reduce your carbon footprint, battery storage is a great choice. By charging your battery when the grid is greener or storing excess solar energy, you can save money and reduce your carbon footprint. Wondering which Octopus Energy tariff is best for your home battery storage? Let’s find out!

Written by: Sarah Chambers

I have had many questions about battery storage over the last few weeks. If you are contemplating the best options for reducing your energy bills battery storage could save you money. I have recently had solar panels and battery storage installed so I will walk you through the tariffs available.

What is Battery Storage and Why is it Important?

As the cost of living continues to rise and environmental concerns grow, many individuals are seeking sustainable ways to power their homes. Home Battery storage is emerging as a popular solution to this issue, allowing homeowners to store excess energy from renewable sources like solar panels for later use. This not only cuts down on electricity expenses but also contributes to reducing emissions and pollution linked to conventional power plants.

Home battery storage can also offer a reliable backup in case of emergencies or natural disasters. I worry about the lights going out more than I should. We live in a semi-rural location and for us, the reassurance of battery storage with the ability to use it in a power cut has been reassuring. Not all home batteries have this function and not everyone will list it as a priority but it is something worth considering for the future.

You will need to find the right energy supplier if you buy a home battery.

With the advancement of more efficient batteries, a home battery is becoming increasingly feasible for households aiming to enhance energy efficiency and environmental awareness. By harnessing renewable energy and storing it for later use, homeowners can take a significant step towards a more sustainable lifestyle. Having an energy tariff that can allow you to store cheaper energy during off-peak periods is the key and Octopus has several options.

The adoption of home battery storage systems presents a practical and eco-friendly solution for individuals looking to reduce their carbon footprint and lower energy costs. With the ability to store excess energy from renewable sources, homeowners can enjoy greater energy independence while contributing to a cleaner environment. As technology continues to improve, home battery storage is poised to play a key role in promoting sustainability in residential settings and we need forward-thinking energy suppliers like Octopus to help us on our journey. 

@sarah_go_green #solarpower #batterystorage #givenergy #givenergyallinone #octopusenergysolar ♬ original sound – sarah_go_green

 Battery storage can help households save money on their electricity bills by storing energy when it is cheaper and using it when the prices are higher. It also helps reduce carbon emissions by allowing households to switch off their appliances during peak times and use stored energy instead.

Octopus Off-peak tariffs for charging battery storage.

Investing in battery storage for your home is a significant financial commitment, and it’s natural to wonder when you can expect to recover your investment. Recently, there has been a significant surge in interest in battery storage solutions for residential use. Many people are now considering battery storage even before solar PV as a viable solution.

OCTOPUS SOLAR DISCOUNT CODE.

A quick rundown of the Octopus time-of-use tariffs.

To qualify for an Octopus smart tariff or time-if-use tariff you will need a smart meter.  This allows Octopus to calculate when you use energy.

Apart from Economy 7 and Octopus Agile you will be required to have a particular piece of green tech to qualify for the tariff.  You will also be able to use the off-peak rate to charge your home battery.

Just to give you an example, I have an EV and I qualify for Octopus Intelligent Go, I charge my EV during the off-peak window and I set my home battery to charge at the same time. It’s enough to fill the home overnight and only costs 7.5p per kWh. At 7.5p or 9.0p per kWh off-peak on Octopus Go, the more battery storage you have the better as you can use that cheap energy during the day when prices are high.

I have written a review on all of the Octopus tariffs below.

You can read more about Octopus Tariffs for exporting your excess energy (that sit along these import tariffs) here.

If you don’t have an EV or solar panels then Octopus Agile is an option to look at as well as Economy 7. You can read more about this on my Octopus Agile review page.

Dedicated Solar and Battery Storage Tariff.

Octopus Energy offers two tariffs exclusively to customers with both solar panels and battery storage. They are Octopus Flux and Octopus Intelligent Flux. The intelligent version was launched in July 2023 and takes into account the growing interest in battery storage. It allows customers to leave all the work of deciding when to charge and discharge their battery to Octopus.

Octopus Flux

This diagram should help you better understand the concept of the Octopus Flux Tariff. This is my interpretation of the Octopus Flux and not an official image from the Octopus Energy website. The intelligent version is all managed by Octopus, you just put your feet up and leave them to export at the greenest time which as a bonus is also better for your pocket.

In the summer, the yellow solar line will extend further, providing you with a greater chance to export energy at the peak rate while keeping your battery charged with green electrons.

What’s the best Octopus tariff if you have an Electric Vehicle, Solar Panels and battery storage?

Deciding the best Octopus tariff to be on if you have an EV, solar and battery storage can be tricky. You’ll find this question asked repeatedly online. After spending so much on green tech you can feel a big responsibility to get the tariff right.

I have 16 solar panels combined with a 13.5 kWh and drive a Tesla Model Y.  I have 3 teenage daughters who are unpredictable with their energy use. They don’t stop cooking and eating.

I love the Intelligent Octopus Go tariff combined with Octopus Outgoing fixed for my export. If you are eligible for Intelligent Octopus Go I think it is a no-brainer.  You can probably save more money on your imported electricty on Octopus Agile but you’d need to do more leg work and be prepared to be flexible with your home energy use.

On Intelligent Octopus Go there are no restrictions on your export tariff, unlike Octopus which is limited to 8p per kWh on Octopus Outgoing Lite.

Intelligent Octopus Go provides a simple off-peak rate for six hours a day which is 7.5p per kWh. You can charge your EV, run your home and fill your home battery during the off-peak window. I rarely average over 8p per kWh for my imported electricty.

Octopus Outgoing fixed has a rate of 15p per kWh which I think is fantastic. You could get more for your export on Octopus Flux but Octopus Outgoing fixed is a great rate and you can get a much cheaper import rate when combining it with a tariff like Intelligent Octopus Go.

I have written a full review of my choice of energy tariffs in this blog, which Octopus Outgoing tariffs will I choose for the spring and summer.

Cosy Octopus Tariff.

Octopus Energy launched a new smart tariff, the Cosy Octopus tariff, which has a double discounted period. You have to own an air source heat pump or have booked to have one installed to qualify for this tariff. It has 6 hours of off-peak electricity which is around 17p per kWh during this period. Maybe, this would be a good option if you have an ASHP and battery storage.

Is battery storage worth the investment?

Yes, yes and yes! I have had battery storage now for around 5 months and the difference it has made to my energy bill, even in November is quite staggering but I do have access to an EV tariff. This means I get a cheap overnight rate to top up the battery ready for the next day.

Even without an EV just being able to store excess solar and fill up at the lowest rate possible makes battery storage a great option to lower the average price you pay per kWh.

I did a lot of research before deciding on which battery to buy. I asked so many questions GivEnergy invited me up to visit them. If you are going to invest in a home battery you have to be confident you have made the best choice for your own needs. So do your homework and if you have any questions drop me a message or tag me on Twitter!

Battery storage has to be the way forward for energy security in the UK. If, however, you are still at the research stage you can still save money, what is the cheapest Octopus Energy tariff?

Other posts by Sarah: