Home batteries storing your solar power may be the new way to keep your power bills down.

Homes with solar panels can use the power they generate later on with the installation of a household battery. This is a big change, currently householders use their generated energy during the day and are forced to export any excess back to the grid.

The Climate Council, which formed after the Abbott government abolished the Climate Commission says the batteries “could be a game changer, allowing households to control their energy bills."

A report released by The Climate Control said 1.4 million Australian households power their own homes with solar, household batteries will mean these households can store the power they make with the flexibility to use later on.

How does this save you money?

The household can store electricity from the grid when prices are lowest, then rely on the battery for power during the most expensive peak times. “…with battery storage, they’ll be able to use it later, thereby saving themselves from having to purchase electricity during the expensive peak demand periods” said Andrew Stock, from The Climate Council.

The report found, solar PV systems with added battery storage will become the most economical solution to providing electricity as feed-in tariffs are phased out and grid electricity becomes more expensive.

“Going off-grid by installing storage could be cost-competitive with staying connected as early as 2018,” McKenzie said. She added, “now we have the opportunity to lead the world in household battery storage with major companies choosing Australia as their first market."

Tesla is one such company, which stores back up electricity from solar panels during non-peak energy usage periods, then, is able to provide energy back to the home during peak hours or at night.

CEO of Tesla Elon Musk, unveiled their product ‘Powerwall’ a lithium-ion battery earlier this year in the US. The battery, will be available for home and commercial use. Tesla Energy division has confirmed it will be coming to Australia in late 2015.

Local electricity suppliers Ergon Energy who have renewable energy plans and solar projects were contacted for comment.

“Significantly, by enabling an increase in the uptake of renewable energy and electric vehicle use, battery storage can support efforts to reduce global greenhouse gas emissions and help tackle climate change” Stock said.