Solar panels need no introduction. These days, new inventions are on the line for solar panels in Australia to give you more variations to the types of solar technologies. Having a solar panel installed in your home or commercial space benefits you in lots of aspects.
How much do solar energy panels safe for you?
Over the last 10 years, you can see a decrease in the price rates for solar systems. So the very first savings you are going to make here itself is that you will buy the next solar system on a deceased best deal.
Solar panels in Australia are more affordable than ever now. Solar installations are faster and easier to implement now and then. Australian homeowners are now adopting solar technology to generate electricity for their homes as it’s a 100% renewable and clean source of energy.
The biggest benefit you will get from the solar system is that it will relieve you from the utility’s ever-increasing price and decrease your dependency on the grid’s electricity. Since you will be able to generate your electricity, you are free to use it whenever and however you want. Or you can sell it to the grid back and earn money from there in return.
Grid electricity versus Going solar –
There’s no problem if someone is relying on the national grid’s electricity for energy purposes. But in Australia, you benefit from financial and environmental views if you opt for the going solar option for your home. The savings that you may see by going solar are simply dependent on the following factors –
- The price that you pay to purchase electricity for the grid.
- The price you pay to generate your solar electricity.
Thumb rule –
The thumb rule is that if your electricity costs are higher than the solar costs, then you must opt for the solar system installation as soon as possible.
The price that you currently pay for electricity varies according to the state. In Victoria, the average monthly home electricity costs can be anywhere between $100 to $150, depending on the current usage. Even if your electricity bills aren’t that high, still the solar system helps save you money. We have divided these savings into two categories:
- Short-term savings
- Long-term savings
Short-term savings you can see once you have started with the solar panel after installation. Like if your loan/lease payments are lower than the cost, then the solar panel installation can bring you lots of short-term benefits.
Whereas the long-term benefits are concerned, you will give the solar system to show you the benefits associated with it. Initially, after paying for the solar loan, you will start enjoying the benefits. You will notice this when your electricity bills rise higher than the solar payment.
You will be in charge of energy production and usage. You have total control of the electricity expenses for your home. In case your solar system can generate more electricity than required, then you can sell it to the grid after they store excess energy in the solar battery. In this way, you will be saving without even paying for the electricity usage.
Conclusion –
Electricity bills are inevitable whether you install the solar system or not. The difference would be the percentage of profit you will make by diminishing the amount of dollars as your solar panel will generate the almost required electricity for your home. It solely depends upon the requirement of the electricity and the usage of solar energy, that how much or less you will be able to make a profit out of the solar system.
