With volatile energy prices and frequent power outages, more homeowners are looking to battery storage to lower their energy costs and provide backup power.
LG has long been a household name for electronics and has two main offerings when it comes to residential battery storage that appear to be coming out of two separate divisions of the company.
- The RESU10H Prime & RESU16H Prime out of Energy Solution ESS Battery Division of LG Chem
- The Home 8 Energy Storage System out of the LG Electronics division
In this article, we’ll explore both of LG’s solar battery offerings, beginning with a quick recap of how LG got into the residential energy storage business.
LG Battery Costs
LG’s main advantage is its competitive pricing. The LG Chem RESU 10H typically costs around $9,000-$11,000 installed, before the 30% federal tax credit, which covers all necessary components. In contrast, the Tesla Powerwall ranges from $12,000-$14,000, allowing LG to undercut Tesla’s prices by 20-30%. Despite having lower capacity (9.3kWh vs. 13.5kWh), the LG Chem meets most homeowners’ needs at a lower cost.
LG Home 8’s average price is about $10,000 before installation. After the federal tax credit, the total project cost is approximately $9,750, or about $680 per kWh. This positions it as the most affordable mass-market solar battery, making it a great option for value-minded buyers.
Homeowners purchasing multiple batteries can often receive discounts on subsequent units. From 2023, the 30% federal tax credit applies to battery storage regardless of solar connection, enhancing incentives such as California’s SGIP, which offers rebates up to $1,000 per kWh installed.
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