You’ve probably noticed your electricity bill amount creeping north for a while now. No matter how much care you take making sure lights are turned off or even turning off every power point it seems you can’t make a big impact decreasing your bill. Sure, you can investigate replacing older appliances like fridges and washing machines for more energy efficient models or shopping around for the best price, to save money. The simple fact is that there is very little you can do to insulate yourself from the price hikes just around the corner.
The most recent Federal Budget confirmed the bad news. Electricity prices are expected to rise by 20% before the end off 2022 with a further increase by 30% expected in 2023. Along with grocery, fuel and interest rates rising, the squeeze on the family budget is the tightest it has been in Australia for a very long time.
The most effective way to mitigate the impact of these inevitable price rises is to install a solar system from Aztech Solar. With our assistance you can learn how to make the most of the power you generate to run your home or business more efficiently and see a significant reduction in the amount you pay on your bill.
Why are power prices rising so Dramatically?
There are several factors contributing to the increases in power prices forecast for the next two years. A perfect storm of global and local issues have left the National Energy Market struggling to keep the lid on prices for consumers.
The war in Ukraine is and has been a significant reason for prices rising. Russia is the world’s second largest producer of Natural Gas. Most of their exporting is to European markets, most of which universally disapprove of the attempted invasion of Ukraine. As a result Russia has decreased it’s exports to countries opposed to it’s declaration of war. This has resulted in a scarcity of gas and as a natural result the price of natural gas has risen. Australian Natural Gas exports are tied to global prices, so any Australian gas used to help power our national grid costs more now.
The aging nature of our coal fired infrastructure means that sometimes up to 30% of its generation capacity is offline and this shortfall must be made up by other sources. As a nation, our transition to renewables continues apace, but the heaviest burden of our current demands in the meantime must be met with more financially and environmentally costly fossil fuel generation.
Along with the volatility of the market, natural conditions in Australia have also played their part. The last few years of bushfires and floods have seen large chunks of transmission infrastructure damaged or wiped out and needing expensive repairs and replacement.
How does Solar Energy Save me Money on my Power Bill?
Put simply, there are two ways that you can see immediate savings on your power bill with the installation of a system from Aztech Solar.
Firstly, any power you generate with your system, especially during peak daylight hours, is used before you start to draw expensive power from the grid. This is where some simple lifestyle changes can make a real impact.
By using your more power-hungry electrical devices during peak production time, you are essentially getting to use them at zero cost. Think along the lines of washing machines, clothes driers, dishwashers, air conditioning and fans, pool filtration and heating, and even an electric vehicle recharging. Try to schedule these tasks during the day and instantly your reliance on retail power is reduced.
The second way to save is with any excess power you have produced. Once upon a time the biggest benefit was in the form of “feed-in tariffs” where your retailer provides you with a rebate for any power you haven’t used that gets sent to the grid. The prevalence of solar in Australia has meant that these tariffs have reduced somewhat in recent years. The biggest innovation in this space is the advancement of battery storage as an option. With home battery storage you can lessen your night time and off-peak reliance on the grid to power your home when you aren’t producing electricity.
A quicker Return on your Investment
Whether you’re paying for the cost of installation up-front or using a finance package, the dramatic increase in the cost of electricity means you will see a return on your investment sooner! The savings you make now will be larger and cover the cost of your solar installation to the point where you will be “on-paper” better off financially sooner. Saving money and helping to save the environment, it doesn’t get much better!
Call Aztech Solar Today to Start Saving!
Aztech Solar believes in fostering a more promising, sustainable future by providing comprehensive solutions that are tailored to our customers’ needs.
In keeping with our philosophy of going above and beyond for our clients, we not only install the system for you, but also teach you how to manage energy at home to reduce costs.
Instead of employing aggressive sales techniques, we want to empower our clients to make informed choices. We are committed to fostering a sustainable future and think that by working together, we can make progress in that direction. To schedule a consultation or servicing for your current solar system, contact us by phone on 02 4067 2634 or fill in this contact form.