Solar-powered systems are now more affordable than ever. You can easily find 350W-370W solar panels which are a massive improvement from the standard 250W panel a few years ago. This year many more Australian households are expected to make the switch to solar power as electricity rates continue to soar.
The upfront cost may be significantly high. Still, a good quality solar power system can typically pay for itself in three to five years. In the long run, you will be able to save thousands of dollars on your power bill and reduce your carbon footprint.
With more advanced PV technology now accessible and government rebates still available, now is the best time to install a solar system.
How much do solar panels cost?
A solar panel system can cost anywhere from $2900 and $9000. Costs depend on the size of your home, the number of appliances you have, and the type of solar panels that your energy consumption requires.
The cost of solar panels may differ from state to state in Australia due to the amount of rebate paid per KW produced. The number of panels required to generate the same amount of electricity may also vary.
How do you save money with solar panels?
The average solar system pays for itself in 3.5 years and comes with a 25-year warranty. That means that you’re going to save a lot of money in the next two decades.
What are the upfront costs of installing solar panels?
With electricity rates steadily on the rise in Australia, solar power offers a far more affordable alternative form of energy production. Solar panels are getting cheaper every year.
If you have trouble paying for the initial cost, you could opt for a zero-deposit, zero-interest financing available specifically for solar installs.
What are solar rebates?
Solar rebates are incentives given to qualifying residential and commercial properties in Australia that install renewable energy systems.
Do I need to purchase batteries?
If you consume most power at night, installing batteries with your solar system may be a worthy investment. Keep in mind that solar power only works when the sun is out. You have to pay for all the electricity you consume at night unless you can store solar power in a battery.
Factors that affect the cost of solar panels
1. Electricity consumption
Do you have a big home with a big family? How many lights, televisions, refrigerators, air conditioners, and heaters do you run each day? The more power you consume, the more panels you will need to keep up with the demand. The more panels you need, the higher your system cost will be.
2. Property location
The location of your home or commercial property can also affect the cost of solar panel installation. Different states in Australia offer different rebate rates. Also, the amount of sunlight you get in Darwin will not be the same as that in Melbourne. As such, the number of panels needed to generate the same amount of power may vary depending on where you live.
3. Quality of panels and accessories
If you do not study your options thoroughly, you might end up paying twice as much for a solar system that your installer talks you into. Compare different brands and different specs to make sure you are purchasing the most efficient solar panels. Conduct your own research and ask for a second opinion from other people who have recently installed solar panels in your area.
4. Ease of installation
Labour costs can be a factor too. Some roofs are easy to work on while others can be a bit of a nightmare. Installing panels on a 2-story house with a flat roof could take longer than a single-story home with a pitched roof.
With prices of solar panels at an all-time low and generous government rebates available in each state, now is the best time to install a solar power system in Australia.