Let’s face it, being able to use electricity to power our lives is something we have all come to expect as cheap and reliable.
Recent events however have highlighted that, while most Australians generally have highly reliable supply, electricity is no longer cheap. A sequence of policies, regulations and market dynamics have pushed the cost of electricity (and gas) to astonishing levels and more homeowners than ever are asking “Will solar really help me reduce my electricity bills?”.
The short answer is yes, in virtually every case for a typical home.
Most homes pay between $0.30/kWh and up to $0.60/kWh for electricity today. A solar system by contrast, will generate energy for a cost of between $0.10ckWh and $0.20ckWh. So, in simple terms you can generate your own electricity far cheaper than you can buy it – which is exactly the reason that almost three million Australian homeowners have installed solar and why 350,000 or so more do it every year.
Whilst Feed In Tariffs (what you are paid to sell your excess generation) used to be hugely generous, most have declined substantially and the key to maximising your savings today is “self-consuming” as much of your solar generation as possible.
If you work from home regularly, have a family around the house a lot or can use timers for loads like pool pumps, hot water heaters and dishwashers, adding solar is a no brainer and you are a perfect candidate for big solar savings and a fast payback. It is certainly true that some homes are more suitable and benefit more than others but even if that’s not you, solar will still save you a motza, it just might take a little longer to pay back.
It is also true that you can buy cheap solar and more expensive solar, or even add batteries.
You get what you pay for
Like almost any electrical appliance, you generally get what you pay for. A great solar designer will give you accurate and honest predictions about savings, choose quality equipment, and invest time in helping you. Tempting as it may be, a budget system typically sold over the phone with little if any design work and bottom of the barrel components is simply a false economy and likely to fail quickly.
Here at Solarbank, we design all our solar solutions using sophisticated software made right here in Australia which will show you exactly what you can expect in terms of savings, return on investment and payback. We then combine that with components we trust, suppliers we know and features like solar monitoring that allow you to keep track of your investment.
As part of our design service, we can show you how various system sizes compare, how batteries will benefit you and will guide you to an honest and fair solution that’s right for you.