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Is Solar Energy Worth It In Australia?

We get this question thousands of times a day. Installing solar panels on most homes is a good investment. solar panel system have reached an all-time low in price. Installing an 8kW solar system with high-quality panels can cost as little as $ 8,000 to $ 9,000, with yearly electricity generation exceeding 30 kWh per day. Suppose we assume that you pay 30 cents per kilowatt-hour for electricity. In that case, using all of your solar energy to generate solar power with an 8-kilowatt system can save you almost $3,000 per year in electricity bills.

Electricity use varies per household. Therefore, homeowners demand a reliable energy system that can provide better and more efficient performance due to their fluctuating electricity consumption needs.

Off-grid electricity systems are extremely efficient and operate exceptionally well. On the other hand, using fossil-fueled energy is expensive and has a severe environmental impact.

Homeowners can easily fix two prevalent energy issues: high utility bills and energy production, by switching to solar. Solar panels for homes are worth purchasing in 2022 in every Australian state, regardless of your electricity usage.

Solar panels are an excellent investment for households. Installing a reliable solar system can pay for itself in as little as 5 to 6 years and, in some cases, as little as 4! In addition, solar panels of tier-one quality can help you save even more money on your utility bills in the future, up to 25 years.

So how much money do solar panels save you?

A 6.6kW solar PV system will be one of the most popular sizes installed in 2022. A 6.6 kw solar panel system of tier-one quality can range in price from $6,000 to $8,500. It can save you anywhere from $1,200 to $2,000, depending on how much electricity you use and when you use sustainable energy.

The payback period for a solar system varies depending on your energy consumption patterns, location, roofing, and installation. For example, a 6.6kW solar system pays for itself in 4 to 7 years.

Furthermore, solar panels can save households money by offsetting their energy consumption or allowing them to enjoy excess energy through feed-in tariffs.

Is it worth buying solar panels in Australia?

Households are ready to install solar energy to decrease energy costs as power rates in Australia continue to rise, particularly now that the cost of solar panels in Australia is at an all-time low. In addition, solar panel system of excellent quality are now quite affordable, and they can pay for themselves in as little as 35 years. Let’s look at these numbers to see how much you should pay for a solar system and whether solar energy solutions is right for you.

 

What is your price range for a solar system?

 

What is your price range for a solar system?

 

It may not be expensive to purchase a solar system for merely $4,000. From malfunctioning panels to the closure of anonymous Chinese manufacturers (along with their warranties), non-professional installers failing to react to service inquiries, and marketing misleading and inaccurate suggestions, the low-cost end of the solar sector is beset by problems. …as well as a range of additional options. This can be a nightmare, as we learn from the dozens of inquiries we receive each week from families who have been duped by other installers and are looking for assistance. It’s also simple to subtract $500 from the installation cost.

This is something that unscrupulous installers will do, and we already know that it will happen with some installers’ low-cost solar systems. A 5kW system that costs $6,000 cannot be “sold” for $4,000. There are considerable pricing variances in the solar sector that you should be aware of before signing up for installation.

So is solar energy worth buying?

The message is simple: solar is useful if you have the financial means to invest in a high-quality system installed by a reputable company. With the right scale, you may start reaping the benefits in as short as 3 to 5 years and invest in clean energy production for decades while employing top brands. A 5kW system can save you up to $ 50,000 in power bills for the system’s life cycle, which is derived directly from coal industry expenses. In addition, solar storage is now available, allowing homes to be powered virtually entirely by the sun. As families seek to promote energy independence and maximise solar energy consumption, solar energy and storage systems increasingly become the standard. All major brands, from the best Chinese manufacturers to the best high-efficiency modules on the market, such as LG Solar, are offered cheap Solar prices. Because these figures are credible, 4.444 billion Australian houses presently have solar power. Solar energy can cost as little as 5 cents per kilowatt-hour when measured accurately. When you compare this to what you’re paying now, you’ll see that solar is a good investment for most Australian homes.

Is it possible for solar panels will become more affordable in 2022?

In Australia, the cost of solar PV systems has dropped dramatically in recent years. Previously, due to their high cost, these clean-source energy systems were out of reach for most regular houses.

The benefits of solar PV systems would be ripe only for early adopters with better financial means. Before 2010, solar pricing in Sydney ranged from $5 to $10 per watt, costing thousands of dollars or more for a high-quality installation.

Solar prices have decreased significantly due to the implementation of multiple government incentive programmes and widespread adoption among Australian homeowners.

After applying for the government rebate, an average 5kW solar panel system installation in Australia costs $5,250. The Federal Government’s Solar Rebate scheme is available to households in Sydney.

A Small-Scale Renewable Energy Scheme (SRES) is part of the federal government’s Renewable Energy Target, which provides financial incentives to homeowners who want to install various solar solutions in their homes.

You will be required to sign STC after receiving an estimate from your solar contractor. STCs (Small Technology Certificates) are market-traded products that can help you save money on your solar system.

Small-scale technology certificates (STCs) issued by the federal government are quite popular in Australian homes. Depending on where you live and other factors, you might save up to 40% on your solar system installation.

Under the Federal Government’s Solar Rebate programme, the cost of a solar system is presently less than $1 per watt. Solar is a highly economical choice for households in Australia, thanks to government incentive programmes. 

In Australia, how much value does solar add to a home?

‘Does solar add to the value of a home in Australia?’ – This is one of the most often asked questions. Yes, in response to your inquiry.

Solar panels can increase the value of your home and improve its curb appeal. Why, though, is that? The growing power price is one of the most significant problems for homeowners.

Every homeowner requires electricity or another sort of power to meet their average energy consumption requirements. Therefore, people will value your home more when it is offered for sale if the cost of electricity can be decreased by installing a solar panel system.

So, how much does solar add to the value of your house?

Solar panels are viewed as a selling point by the majority of homeowners. According to research, the more solar panel system you have on your roof, your home becomes more valuable. The retail value of your property can be increased by around $29,000 with a basic 5kW solar system installation.

Electricity prices are projected to grow in the coming years. Therefore, installing a solar energy system will be even more beneficial in cost savings, reduced carbon emissions, and enhanced property value.

We specialise in installing premium quality residential solar panels in australia. To know more about our extensive range of solar options, call us on 1300-723-969 or send your solar queries at wecare@tgr.org.au.

Conclusion

Solar energy is a great investment for homeowners in Australia. Not only is solar power a renewable resource, but it also helps to reduce your carbon footprint. Additionally, solar panel system have reached an all-time low in price, making them a more affordable option for homeowners. To find out whether solar energy is right for you, contact a solar energy provider in your area.