Best Octopus battery storage tariff.

Battery storage is an excellent option to help reduce your energy bill. Plus if the lights go off this winter, in the form of a blackout, you will have your own power source. At there moment there is no specific Octopus Energy battery storage tariff.

I have had many questions about battery storage over the last few weeks. People are contemplating the best options for reducing their energy bills and if they can afford the investment there is a good chance they could save some serious money BUT it isn’t as straightforward as it seems. It all depends on your individual situation and the off-peak tariffs available to you.

Octopus Off-peak tariffs for charging battery storage.

If you own an electric vehicle and have a smart meter then you have a variety of options to charge your new battery.  If you are already on an EV tariff such as Octopus Go, Go Faster or the Intelligent tariff you can simply charge your home battery during your off-peak times.  At 7.5p per kWh off-peak the more battery storage you have the better as you can use that cheap energy during the day when prices are high.

In an ideal world, you would use your EV as battery storage but for now, vehicle to grid is limited.

If you don’t have an electric vehicle then sadly you can’t take advantage of these Octopus tariffs. If you have solar panels, however, battery storage would be great for storing excess solar either to use at peak times when no solar is available or for selling back to the grid. I know Octopus Agile is very popular with friends who have solar panels!

@sarah_go_green Battery storage can help #reduceenergybills and #offpeak Octopus tariffs are ideal. We need more #smarttariffs #electrictybill #moneysavingtips #solar ♬ original sound – sarah_go_green

If you don’t have an EV or solar panels then possible Octopus Agile may be an option but with recent price increases, it is now capped at a whopping 78p per kWh. So you would really need to keep your fingers and toes crossed that prices drop sometimes during the day so you can charge your home battery for the cheapest possible rate.

Is battery storage worth the investment?

Personally, I think battery storage is worth the investment. I like the idea of having my own backup in case of blackouts. It’s an expensive backup if you can’t get a cheap off-peak rate or you don’t have solar but if you plan to get an EV or solar it may be still a viable option for you.

In the next few weeks, everything might change. A new PM, possible a freeze on the energy price cap and an interim review from Review of Electricity Market Arrangements.

If REMA makes times of use tariffs a more dynamic system where they become open to more people are lower rates then battery storage could also come into play here too.

There are a lot of ifs and buts when considering battery storage IF you are trying to work out when they will end up paying you back your investment.