6 Reasons to invest in solar system
Solar panels may be seen in many Australian houses and businesses unless you've been living somewhere else for the last few years.
Primarily, solar power significantly reduces electricity expenses, and the systems typically recover their costs within 3-5 years through reduced bills.
In case you're still not convinced that going solar is a good option, here are six reasons why you should:
1. Great return on investment and payback periods
2. Protect yourself from rising energy expenses
In Australia, electricity prices are some of the highest globally, and they're expected to keep going up quickly in the coming years. When you install solar panels, you significantly cut down on the electricity you purchase from the grid, making you less helpless to future price increases.
3. System prices have never been lower
Over the past decade, the cost of solar panels and inverters has significantly decreased. Today, these systems are more affordable and accessible. In 2010, a 5kW system would have cost you a hefty $25,000. Now, you can get a good-quality 5kW system for around $3,500 to $9,500.
4. Generous Government rebates are still available
Thanks to the Federal Government's Renewable Energy Target (RET), when you install a solar system, you generate Small Technology Certificates (STCs), like a rebate. The installer deducts this amount (around $4,000 for a 5kW system) from the total system cost.
5. Feed in tariffs still pay you for the power you export to the grid
A Feed-in Tariff is like a payment you get from your energy company for the extra power your solar system generates but isn't used in your home, so it goes back to the grid. Even though the rate is lower than it was 5 or 6 years ago, the cost of systems has also gone down, making the time it takes to recover your investment still about 3-5 years.
6. Your systems last for decades
Solar panel and inverter technology has improved a lot over the years and is very dependable. Since solar panels don't have moving parts, they usually come with warranties for 25 years. The inverters, which are like the brains of the system, typically have warranties for around 10 years. Considering systems pay for themselves in 3 to 5 years, your investment will be covered long before the warranties expire.
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[Disclaimer: The blog post is for informational purposes only and should not be considered professional advice. For accurate and up-to-date information on renewable energy, refer to reputable sources and consult with experts in the field.]
Please don’t hesitate to contact Betta Value Renewable Energy if you have any questions about this topic.