Over the past few decades, most Australian households have noticed a large number of solar installations on their property. The reasons for using clean-sourced energy over fossil-fueled electrical energy are obvious - you get to save hundreds, if not, thousands on your quarterly/annual utility bill and reduce your carbon footprint by being a helping hand to the environment. While some homeowners are quite satisfied with paying for the installation and achieved their energy goals, others didn't. But why?
- One of the most crucial things you need to be aware of is that installing a solar system at your place will be expensive. Solar systems can indeed help you save thousands on your monthly utility bills, balancing your startup expenses and government solar rebates will help reduce the cost of solar panels. However, the initial investment for installing a residential solar system can be a bit pricey. How?
- As mentioned earlier, the cost of a solar power system depends on a variety of factors including the type of solar panels used for installation, the number of PV panels required, the size of the solar system, and the hired solar panel installation company.
- The average cost of installing a tier-one quality 6.6kW solar system can be anywhere between $6,000 to $8,500. The prices may further fluctuate depending on the government incentive programs and the installation company. Regardless of the size, company or type of solar panel you choose, it is crucial to understand which will work best for you and your energy needs.
- Apart from understanding the initial cost of installing a solar panel, homeowners should also consider learning about the longevity of the solar system. How long will the solar panel last? Will they provide enough power to continue sustaining your energy needs? Will they run long enough for you to cover up your initial installation cost?
- The longevity of the solar system will again depend on the type of solar PV panels you chose. Generally, residential solar PV systems can last anywhere between 20 to 30 years. However, the system will require a few minimal maintenance and upkeep for optimal performance and energy production. Tier-one quality solar panels have great warranties, ensuring the solar system lasts for at least two. When buying a solar PV system, always analyse the warranty information offered by the solar company.
- Before installation, homeowners often have a question related to how solar can help them save money - Will it offer a scalable ROI? How much power will a home solar system generate? How much money will it save you? Will it gradually slow down your soaring high electricity bill? Will it help me get rid of fluctuating utility bills?
- The amount of money you save on your monthly/quarterly/annual utility bill can depend on your daily energy consumption needs as well as the efficiency and power produced by your solar PV panels. Another factor that may affect the savings is your location. If you live somewhere with a higher cost of electricity, you will save more. Similarly, if you live in an area where electricity rates are lower, you will save less.
- Generally, solar power systems can reduce your utility bill by around $400 per year per kW of solar. For instance, if you install an 8kW solar system, you may save upto $3,400 annually or $850 every quarterly bill.
Ultimately, whether solar panels are worth it depends on an individual's daily energy needs and their motive. Going solar, however, is a smarter option for those having ample sunlight exposure, roof space, and soaring high energy bills.
As one of the leading solar panel suppliers in Melbourne, we will install tier-one quality solar panels at your property. If you have any solar queries, call us on 1300 616 111.
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The advantages of solar energy are plenty, making it a great choice for homeowners. To know more about the benefits of solar panels, read this blog.
Solar energy reduces your reliance on grid energy, providing you with significant cost savings and emissions reductions. The ROI from solar is compelling. Talk to us today about your business case and we'll provide you with energy solutions that make a difference.