Everything you need to know Solar power in Australia.
Solar power in Australia provides a fantastic opportunity for investment, to reduce the costs of owning a home. Energy costs have continued to rise over the years, and they’ve gotten a lot of market attention over the years. The governments don’t really seem to know what they’re doing, prices continue to rise and alternately the buck stops when you get your energy bill and have to fork out the extra money to pay the higher energy costs. Because solar has come down in price now significantly, you’ve got retailers offering very good feed-in-tariffs, that’s where you export excess energy you don’t use, back onto the grid and you receive a credit for that, solar represents a fantastic opportunity for investment.
Often we’ll see residential solar installations get a 40% return on investment. That means it pays for itself in a little over 2 years. With homes that are unoccupied, with no energy usage to speak, exporting all of their extra energy can still see a 5-year return on investment. That’s a 20% return on your money on a solar system that should easily last 10, 15, 20+ years if you’ve installed a quality system. That means worst case if you were to go away on holiday, you would still be seeing a 20% return on your solar system and if you were in the house using energy during the day, that investment return would be better.
This is why we see a lot of people investing in solar today. Australia is washed with sunshine as we know. That means your solar system will be producing a lot of energy and really drive down your energy costs. And I’m sure you would want to see that money going towards your family compared to one of the big energy companies. In Australia, solar panels must have a 25-year performance warranty (Note: that this is the minimum warranty in Australia. All solar companies will have this claim. The performance warranty isn’t worth the paper it’s written on).