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Is solar worth it? Well, it all boils down to your own personal circumstances, but considering the perks – it’s no surprise that it’s on the upswing.
The Australian Energy Market Commission has found that in 2021, the average household electricity bill for Brisbane alone is $1,334 per year. While the figure will vary depending on how many people are in your household and the type of electricity consumption you chew through, it’s no secret that the cost of living in our great nation has long been on the rise.
Depending on your state or jurisdiction, electricity prices generally change on January 1 or July 1 every year. Unfortunately, trying to predict whether the rates will go up or down is quite literally like trying to predict the future. However, if your pricing plan isn’t locked in for a set period, you could be exposed to any changes made by the electricity retailer at any time.
If you’re a homeowner who is both sick of the fluctuation and also fancy yourself as being environmentally conscious, solar power is the alternative. Not only do solar panels offer long term savings by generating your own electricity, but it’s also regarded as cleaner energy as a way to improve your carbon footprint – so what’s the catch?
Well, the upfront installation costs are the primary offender in what causes people to shy away from them. As a result, if we weigh up all of the pros and cons associated with making the swap, is solar worth it or not?
According to Chris Barnes from consumer group Choice, the answer is pretty clear.
“In almost all cases for almost all homes, yes, it’s still worth it,” he said. “That’s a reflection of the fact the price of the actual panels has gone down, and the capacity of the solar panels has gone up. So really, it makes sense to put as many on your roof as you can afford.”
The biggest attraction of installing solar power is the money that homeowners can potentially save. For residents of the Sunshine State, the region’s reputation of having some of the best weather nationally also provides residents with access to the cheapest solar power rates on the East Coast. However, installing solar panels does not mean unlimited and free access to electricity.
In fact, Queenslanders with solar panels installed pay on average $260 per quarter. Keeping in mind, this is still a significant savings when compared to the $335 average power bill per quarter that locals without solar power pay. When it comes to the upfront costs linked to investing in solar panels, batteries and an inverter, prices can vary anywhere between $4,000 and $8,000 after state rebates. The costs also all depend on the size and quality you’re after to cater for how much power your household is expected to use. With these figures in mind, at the end of the day 94% of Australians still believe that installing solar was a good financial decision for them.
For those who can’t afford the upfront costs linked to buying solar power equipment outright, there is also the option of entering a purchase power agreement. While the availability of purchase agreements in certain areas is dependent on the offerings of authorised providers, an authorised provider installs, owns, operates and maintains the solar system at your home. In return, you agree to pay for the electricity produced – usually kilowatt hours – by the system.
If the solar power system is generating energy at the time when you need access to the electricity, the power is directed to your house and home owners can save money on electricity that they would otherwise buy from the grid. If your house doesn’t need electricity, then the solar power is sold back to the electricity grid. While it may not provide the same yield as buying a solar power system outright, it enables home owners to have the best of both worlds – lower power bills, without paying for the upfront costs.
However, solar power systems like panels, batteries and inverters still need semi regular attention to ensure that they stay in tip top shape. Solar panels are made to withstand all kinds of weather, and generally require very little maintenance in order to function. It’s a good idea to get them tested by a licensed electrician once every few years to double check for any faults or damage to ensure that they are operating at their best – but where do you find one?
Here at Shield Electrical, we are a Brisbane based electrical contracting company, and pride ourselves on being shockingly good at watt we do. For us, friendly and reliable customer service isn’t just a nice add on – it’s how we do business.
Our team of dedicated and energetic electrical industry professionals are committed to providing the highest levels of customer satisfaction possible. Whether you’re on the hunt for an electrician for domestic services, residential, commercial and industrial construction, security systems or even just further energy saving tips, get in touch with us at Shield today to source practical solutions that don’t break the bank.
