If you have an Australian home with an unshaded roof and some daytime electricity usage, you’re probably a great candidate for Solar Panels for Home. A rooftop Solar Panel for Home is an affordable and smart choice for almost any Australian home, even without the generous federal feed-in tariffs and the upfront incentives through Renewable Energy Target. In a recent year, over 300,000 Australian homes installed Solar Panels. And 30% of homes in Brisbane have converted to Solar Panels for Home. If you haven’t already joined the vast number of households switching to Solar Panels for Home, this article can help you understand why it’s worth it.
Is A Solar Panel for Home Right For Me?
If you want to lower your electric bills and reduce your carbon footprint, Solar Panels for Home may be an excellent option for you. Homeowners and business owners who choose Solar Panels for Home reap various benefits. In addition, a Solar power system may increase your home value.
However, it’s essential to educate yourself on the costs associated with Solar Panel for Home to know what to expect. Although there will be costs for installation and maintenance, federal rebates in Australia make for some of the lowest-costing Solar Panels globally.
The magnitude of gains will vary from one house to another depending on several factors.
Critical Points for Those Considering Solar Panels
- A Solar Panel for Home is an excellent option for those wanting to go green and equip their homes with Solar Panels.
- Solar Panels help the environment. In addition, there are generous incentives and buy-in tariffs for Australians using Solar Panel for Homes.
- These rebates make Solar Panel for Homes in Australia some of the world’s lowest-costing Solar Panels for Homes.
- Solar panels are most suitable for homes that receive ample sun exposure throughout the year, making Australian homes ideal for Solar Panel for Homes.
- It’s essential to understand the economic and social implications before committing to Solar Panels for Home.
Why Should I Choose Solar Panels for Home?
There couldn’t be a better time to invest in Solar Panels for Home than now. If you choose to join the energy revolution by investing in a Solar Panel for Home, you’ll save tons of money and boost the value of your home. By investing in Solar Panels for Home, you’ll also protect yourself from the continually rising cost of energy bills. Australia sees sunny days all year round. That’s year-round clean energy waiting to be used. It’s also tens of thousands of dollars that you’ll save over time.
Due to Australia’s federal rebates, your investment in Solar Panel for Home will give you the chance to make your money back and more.
Solar Panel for Homes Will Increase Your Property Value
As electricity prices continue to shoot up, investing early will pay off as more and more potential buyers are looking for a property with pre-existing Solar Panels. Solar Panels for Home are perfect for any property owners that want to save money, have backup energy or reduce their carbon footprint.
Feel free to contact us to explore options and find the perfect Solar Power Solution that works for you.
Are Solar Panels Worth It?
Thanks to reduced solar prices in the past decade, we’ve seen the rise of a clean energy revolution. Renewable energy sources like Solar Power and Solar Panels for Home have recently become cheaper than fossil fuels. In fact, Australian Solar Panels for Home are some of the lowest-costing systems in the world.
So what does this mean for homeowners? First, a Solar Panel for Home will offer a greater lifetime value to homeowners than using electricity from a utility company. The International Renewable Energy Association recommends switching to Solar Panels for Home. Let’s discuss why you should consider Solar Panels for Home and why they are worth it.
The key to getting the most out of your Solar Panel for home is to self-consume all the solar energy you generate. Solar self-consumption within the home will help avoid purchasing power from the grid. You will save anywhere from 20-30 cents per kWh in doing so. The rate you save will vary depending on where you live and your electricity retailer. Solar households can sell their excess solar power for about 8-15 cents per kWh.
Are Solar Panels Worth It in Australia?
Yes, absolutely. Electricity prices are continually rising in Australia. As a result, more and more households are rushing to install solar power to reduce their power bills. This is especially true now that solar panel prices are some of the lowest in the world. Since good quality solar panels are so affordable, it’s possible to get a return on your money in just a few years.
Factors to Assess When Considering Solar Panels for Home
Your location will be the main factor when deciding if Solar Panels for Home are the right fit for you. Australia is a prime location for Home Solar Panels since it gets year-round sunshine. However, there are factors beyond just sunlight to consider – like electricity prices and local policies. Here are some circumstances that will make Solar Panels for Home worthwhile for you:
- Your electric bills are high and continuously rising
- Your roof receives ample sunlight for the majority of the year
- You have a substantial surface area on your roof
- You have access to solar incentives or rebates
Your Electricity Consumption
Solar Panels for Home are the most effective and efficient for homes with high electricity bills. So, assessing your electricity consumption is a good place to start. If you’re unsure how much electricity your home is using, look at your electricity bills.
You’ll want to look at the figures labeled kilowatt-hour (kWh) used. If your home is using energy above 500kWh a month, Solar Panels for Home will be worthwhile for you.
While assessing the value that Solar Panels for Home can offer you, keep in mind that there will be costs associated with Solar Panel Installation. You’ll likely have to pay for the actual Solar Panels and time and labor for the Solar Panel installation. However, Australia has very generous federal rebates for homeowners who invest in Solar Panels for Home.
Compare Your Electricity Bills to the Cost of Solar
Solar power only costs about 5-6 cents a kWh to produce. Therefore, you will undoubtedly cut costs by running your home on solar power.
Solar power feeds into the home as it’s produced, so you don’t need to buy power from the grid using a Solar Panel for Home.
If you don’t use all the solar power that your Solar Panel for home produces, your energy retailer will reimburse you for the extra power. You can typically expect about $10-30 per billing quarter.
Your Roof’s Sun Exposure Will Make a Big Difference
Besides electricity bills, another vital factor to consider in determining “Are Solar Panels Worth It?” – is to assess your roof. Do you have sufficient and unshaded surface area? What direction does your roof face? A North-facing Solar Panel for home will generate the most energy for Australian homes. However, an East-West facing Solar Panel for home will allow for more self-consumption, despite generating less energy overall. Again, you’ll need to consider what direction best suits your needs and your lifestyle.
If your access to sunlight is shaded by trees or blocked by neighboring buildings, this will compromise your Solar Panel’s efficiency. In addition, the available sunshine hours will affect the length of time it takes for your Solar Panel for Home system to pay itself off.
Solar panels rely solely on sunlight to produce energy. Thus, your Solar Panel will make less power during low sunshine hours. Less energy produced will result in less revenue that your system generates. You’ll also have less energy to put back into the main grid and make less off of feed-in tariffs.
Furthermore, while sunlight exposure is low, your Solar Panel for home may not be producing enough energy for your household consumption needs. As a result, you may need to tap into the electricity grid. Therefore, living in an area with ample sunlight and sufficient hours of daily sunlight is important for Solar Panels for Home.
Solar Power Payback Time
One of the most important factors to consider before committing to a Solar Power Solution is solar payback time. In Australia, the average payback period is about three to five years. A few variables will factor into determining the exact time:
- The amount of sunlight you get
- The size of your home Solar Panel for home
- Your monthly power usage
Three to five years is the actual range of payback time. Four years is the average in Australia.
Lifetime Return on Investments for Solar Panels for Home
Your lifetime returns will vary depending on the size of your Solar Panel for Home and where you live.
How Do You Measure the Payback Period for Solar Panels for Home?
Measuring the payback period entails finding out how long your Solar Panel for home system will take to pay itself off. You can measure your payback period by calculating your savings on electricity bills. The point of a Solar Panel for home is to reduce the costs of your power bills.
The formula for calculating a payback period for your Solar power solution is as follows:
Capital investment or the total cost of your Solar Panel for home/how much you save per year with the Solar Panel for home. So, let’s say, for example, that you spend $3,000 on a Solar Panel for Home. If you then save an average of $900 on electricity costs, your payback period would be approximately 3.3 years.
Cost of Solar Panels in Australia
The cost of solar panels in Australia is not standard and will differ based on the size of the Home Solar Panel. Also, the price will change depending on which state you reside. This is because different states have different rebate rates per kWh.
Installation costs will also vary from one state to another. The most basic Solar Panel for Home is typically a 5kWh system, generating around 20kWh of solar energy per day. The average payback period for a 5kWh Solar Panel for Home system is approximately four years.
The Average Cost of a 5kWh Solar Panel for Homes
The 5kWh Solar Panel is probably the most common Solar Panel for Home for homeowners in Australia. Research shows that the demand for Solar Panels for Home is increasing due to rising energy prices. The average cost of a 5kWh Solar Panel for Home in Australia is roughly $4,600.
The demand for 5kWh Solar Panel for Homes has increased steadily over the past decade. One of the points of attraction for a 5kWh system is that it only needs 25-35 square meters to accommodate an ideal Solar Panel for Home system. It can also generate about 20kWh in a day, saving you about $500 per quarterly power bill, assuming you use all the power generated.
How Long Does It Take To Break Even on Solar Panels?
This is an obvious and important consideration for anyone considering Solar Panels for Home. Therefore, before you commit to investing in a Solar Power Solution, you probably want to know how long it will take to get your money back.
It would help if you considered the cost of the Solar Panel for home as well as the cost of Solar panel Installation, maintenance costs, and inspection costs. Different Solar Panels for Homes will have varying periods to break even depending on their size and capacity. The break-even figure will not be very far from the average payback period.
In addition to costs for maintenance and inspection, some other factors that will come into play for determining break-even periods are:
- The size of your Solar Panel for Home system
- How much electricity your household consumes
- Your annual output from the Solar Panel for Home system
- Your electricity costs
- Feed-in tariffs
Is It Worth Investing in a Home Solar Power System?
Yes. The installation of a Solar Power Solution will be well worth your investment. While you may incur upfront costs, the benefits of Solar Panel for Homes are undoubtedly worth it from a long-term perspective.
Not only will you save a tremendous amount of money on electric bills, but solar panels for home will also pay themselves back after a few years. With generous government rebates and incentives, the cost of Solar Panels for Home in Australia is at an all-time low.
How Feed-in Tariffs Affect Your Return on Investment
Feed-in tariffs are a monetary incentive that energy suppliers offer for extra energy produced. For example, Solar Panels for Home systems owners can sell their excess energy back into the main grid. Then, your energy provider will pay you a specific rate for the fuel.
Feed-in tariffs are in place to encourage people to use renewable energy. They exist for solar, wind, biomass, and hydro fuels. Various utility companies in Australia pay feed-in tariffs with different contingencies. Tariffs will also vary depending on which state you live in.
You can calculate feed-in tariffs by measuring the extra energy you produce and multiplying that by the kWh of energy. Therefore, a system that generates higher kWh will present an opportunity for higher gains through feed-in tariffs.
For example, suppose you own a 5kWh Solar Panel for Home system that produces 600kWh. If the average household uses about 14kWh per day, that will amount to 420kWh a month. So you would be producing 180kWh extra per month.
Money that you earn from feed-in tariffs is considered part of the revenue generated from your Solar Panel for Home. Therefore, feed-in tariffs play an essential role in determining the time it takes for your solar panel to pay itself off. Higher feed-in tariffs equate to a faster payback period.
Anyone living in an area with higher feed-in tariffs or using a larger Solar Panel for Home system will gain more from the feed-in tariffs.
Is It Possible to Increase Your Return on Investment?
If you produce more energy than you are using, you can sell that back into the main grid. Therefore, it’s possible to increase the payback from your Solar Panel for Home investment. Using less energy will increase the amount you can sell back into the main grid.
The less energy you consume from your Solar Panel for Home system, the more you are putting back into the main grid. As a result, your feed-in tariffs increase along with your return on investment.
Some ways you can reduce your household solar energy consumption are:
- Using appliances properly and efficiently
- Turning lights off where you don’t need them
- Turning off all lights before leaving the house
Proper care and regular maintenance of your Solar Panel for Home system is another step toward increasing your ROI. Keeping your Solar Panel for Home system clean and well-maintained will maximize its life span and value. By correctly maintaining your Solar Panel, you will also avoid unnecessary repair costs.
What Financial Incentives Are There to Install Solar Panels for Home?
Australia has some of the most appealing financial incentives to install Solar Panels. Currently, there are three major incentives to encourage Australians to convert to Solar energy – feed-in tariffs, small-scale technology certificates, and rebates.
Feed-in Tariffs
“Feed-in tariffs” is a system that pays Solar Panels for Homes owners for excess energy. You can “feed in” any extra energy you produce from your solar system back into the main grid. In doing so, you’ll receive compensation for the excess energy.
So let’s say you produce 1000kWh, but you only consume 500kWh in your household. You can sell that extra 500kWh back into the main grid for financial reimbursement. Homeowners get paid on a cents per kWh rate for feed-in tariffs
Feed-in tariff rates will vary depending on your state and your Solar Power company. Regardless of your feed-in tariff rates, they will benefit all owners of Solar Panel for home. The reason is that they will increase revenue from your Solar Panel for home.
Small-Scale Technology Certificates (STCs)
The Federal government of Australia operates a Small Scale Renewable Energy Scheme. Certain households can receive small-scale technology certificates (STCs) through that program. The purpose is to encourage Australian households to switch to Solar Energy.
Each STC is equivalent to about one hour, or megawatt, of renewable electricity.
You can claim as many STCs as your system can produce over a specified period. To determine how much you can get back from STCs, you’ll need to calculate how many certificates your system can claim. Since 2018, each STCs stands at about $36 per unit.
Rebates
The last type of financial incentive offered to Australian homeowners for Solar Panels for Home is rebates. Rebates are credits provided by the government and can cover up to half of the cost of the Solar Panel for home systems. Sometimes rebates can even cover the installation cost for your Solar Panel for home systems. Like feed-in tariffs, rebates also vary from state to state. Ultimately they are in place to encourage Australian homeowners to go Solar and make the process easy.
Solar Energy Can Help You Reduce Your Carbon Emissions
One of the main reasons people switch to Solar Panel for Home systems is to go green. By creating and using renewable energy, we can make a greener planet. While it is true that the manufacturing process of Solar Panels leaves a carbon footprint, Solar Panels for Home have helped millions of people reduce their daily carbon emissions. Here are some tips to further reduce your carbon footprint:
- Drive less
- Calculate your carbon footprint by using a carbon footprint calculator. By estimating your greenhouse gas emissions, you can make educated decisions to support sustainable changes in your life.
- Invest in a hybrid or electric car
- Switch to renewable energy like Solar Panels for Home. Since fossil fuel burning is the largest source of greenhouse gas emissions in the world, switching to a renewable energy provider immediately reduces your carbon footprint.
The carbon footprint of a Solar Panel for Home is about 20 times less than that of a coal-generated power source. As soon as you install Solar Panels for Home in your home, you will reduce your carbon footprint.
After about three years of running off of Solar Panel for Homes, you’ll be carbon neutral and start to pay off their carbon debt. Then, after another three years, your overall carbon footprint will decrease even more, and your system will remain carbon neutral for its lifespan.
Since the average lifespan of a Solar Panel for home is about 20 years, that’s a significant amount of carbon you are helping keep out of the atmosphere.
So Are Solar Panels for Home Worth It?
All in all, the verdict is that Solar Panels for Home are worth it. If you have the budget for a quality system provided by a trustworthy Solar Panel for Home company, it’s worth it. When you size your Solar Panel for Home correctly, you can get a return on your money in 3 to 5 years. In addition, solar Panels for Home are generally problem-free investments that generate clean energy for decades. Your Solar Panel for Home can last up to 25 years with a good quality brand.
A 5kWh Solar Panel for Home system can produce lifetime savings of about $50,000 on electricity bills. Furthermore, with solar battery storage becoming available, households can run their home almost entirely through solar power. As more and more households maximize their solar power consumption in their homes, more people are gaining energy independence.
National Solar Network offers competitive pricing on top-of-the-line Solar Panel for Home products. The numbers make sense, which is why millions of Australian households are using solar power. The costs can be as low as 5 cents per kWh. Compare that to what you are paying on your electricity bills, and it becomes very apparent why Solar Panel for Home systems are worth it for almost all Australian households.