Is Solar Worth it in 2022?

Solar power is highly advantageous for anyone. It provides a greener, cleaner energy solution, but it also offers increased savings on utilities. The only main downside is the initial cost of installing a solar power system. This is offset by incentives and rebates offered by the Australian government for owning a grid-connected system.

The feed-in tariff varies depending on your location and the amount of energy exported into the main power grid. It’s important to note that Australia has an export limit, which is the reason for the 5 kW restriction on solar inverters.

What Are the Costs?

Ten years ago, a solar PV system could cost about $50,000 for a 6 kW solar PV system. Today, it only costs $4,500 to $9,000, depending on the brand and installer.

The initial investment is dependent on your current power usage. 6.6 kW is the system recommended for an average household. A 3 kW system can be sufficient for singles or smaller families. And there are options for an extensive 10 kW system for large homes. A high-quality, reputable installer can help in discussing the different specifications.

A 6.6 kW solar PV system is usually offered to a household of four because it provides an outstanding balance between efficient solar power production and feed-in-tariff credits. In Australia, an export limit restricts inverters to 5 kW. If your solar PV system produces much more power than you’re using, the rest of the unused power will simply go to waste if it’s more than the 5 kW export limit.

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    Optimized systems provide you with electricity to get through the day and the right amount of extra power to export within the limit. Based on the electrical consumption of an average Australian household, the savings earned from exporting power will usually pay back the cost of investment in about 3 to 5 years. Solar PV systems are designed to last over 20 years.

    What Are the Potential Savings?

    Australia has been making a push for greener energy. There are generous subsidies and other incentives you could potentially earn from installing a solar PV system in your home. As solar is becoming widespread, some governments across the nation have changed or reduced certain rebates. Becoming an early adopter is beneficial by offering higher rebates and incentives.

    An average household of four in Adelaide would be best suited for a 6.6 kW solar PV system. The cost to install is $4,500, including the federal rebates, and the family would consume about 22% of the solar power generated. This would result in a $1,600 savings on their first year and get the initial investment paid off in just three years. Over the 20 year lifespan of a typical solar PV system, they would have earned over $31,000 in savings.

    What Are the Environmental Benefits?

    Global energy consumption has been steadily growing for more than half a century, with the past couple of decades seeing an average increase of almost 2% annually. That rate of increase results in a massive dependence on fossil fuels.

    Solar is the greenest energy that’s accessible for residential homes. Climate change is becoming a more significant concern, which is why residents are encouraged to adopt solar power systems through incentives and rebates.

    Are solar panels worth it in Australia?

    Solar panels can now last over 20 years, with many being advertised to last longer than 25 years. They are worth the investment that pays you back several times over its long lifespan.

    Is solar worth it for a single person?

    A 2 kW can be more than enough to suit your everyday needs and still provide up to $400 savings per year for a single-person household. Depending on your usage there are other options available.

    How much is a solar PV system?

    A quality 6.6 kW system can cost anywhere between $5,000 to upwards of $9,000 depending on the brand and installer. Even if you go for a more affordable option, you can still expect your solar PV system to last over 20 years.

    About Us

    Natural Technology Systems are solar providers that have been in business for over 30 years; we are a business that South Australia trusts and provides expert, obligation-free quotes and advice. We provide customers with the most cost-effective way to slash those power bills for your home or business.

    Click here for a quick quote for your solar power needs, or contact us today at (08) 8344 7298. You can also email us for expert, obligation-free advice

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