IS ROOFTOP SOLAR WORTH THE INVESTMENT?

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IS ROOFTOP SOLAR WORTH THE INVESTMENT?

Posted By Andrew Colley     July 13, 2022    

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With energy prices rising across the country, the time has come for people who have been sitting on the fence about solar energy to make the switch. But is it worth the investment?

What savings can you get from solar?

Most people can slash their energy bills by 50%-80% depending on their standard consumption. So, For an average home that spends around $3,200 per year on energy, you could reduce that down to as little as $600 per year. The savings really do vary depending on how much power you use, and how smart you are about how you use solar energy.

How long until a solar installation pays for itself?

With most residential solar systems costing between $5,500 – $8,000, it really depends on your typical gas and electricity costs. However, the general guide is that solar systems pay for themselves in 3-4 years. After that, the savings are all yours.

What about battery storage?

Battery storage is a great way to break free from energy companies for good. With battery storage, all your excess solar can be stored for later use. So, as long as your whole system is capable of producing enough power, you’ll never need main grid electricity again. The issue for many, however, is the upfront cost.

There is an idea out there that solar battery storage can only save you so much on top of what a normal on-grid solar system already delivers. Therefore, the solar battery may still not have paid for itself when the warranty runs out.

 

While this may be true for some, it really depends on how you use your power. If most of your usage occurs at night, it could be very beneficial. Also, the financial argument about batteries paying for themselves assumes that the battery will immediately stop working when the warranty expires, which is obviously not the case.

Can I get solar rebates?

While individual states may offer rebates or subsidies for certain groups switching to solar, the major rebate is known as the Small-scale Renewable Energy Scheme. This is designed to help residents cover the upfront cost of a solar installation. The best thing is, your solar retailer handles all of this for you, and a discount is applied at the point of purchase.

In addition, if you have an on-grid solar system, most electricity retailers give you a credit on your account for the excess energy you feed back into the main grid. So, if you don’t use all of your solar energy, it can still benefit you. This is known as a feed-in tariff, so check what’s on offer from individual power companies.

 

If you’d like to know more about making the switch to solar, contact the team at Halcol Energy today. We’ve got a range of solar panel and battery package to suit every family’s budget, and we even offer a free consultation where we can tell you how much you could save. Make the change today!

Source URL: https://halcolenergy.com.au/solar-news/is-rooftop-solar-worth-the-investment/

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