I have been running an Alpha Smile 5 system with 2 batteries for just over a year now. I would NOT recommend the system for the following reasons:
Because it insists on feeding small amounts into the grid from time to time (even though it is set to 0% feed-in) it is not compatible with Conlog pre-paid electricity meters. This means that every time it feeds in, the meter trips with the resulting interruption to the supply.
In UPS mode it will not start any but the smallest inductive loads - even our Daikin inverter airconditioner (825 watt) sometimes trips the Inverter on start-up.
We also experience the dips in voltage that other people have described above. Sometimes it even fluctuates at a fairly high frequency for a few seconds at a time.
The technical backup from the Chinese manufacturer is hopeless - when they do respond, it is simply to say that the system cannot do what it is advertised to be able to do.
The Alpha ESS Smile5 is grossly misrepresented and should either be significantly improved to be able to achieve their claims, or be truthfully marketed - and at a much lower price-point!