How Much Money Do You Save With Solar Panels Australia

Considering their energy saving it will only take two years for the energy savings to catch up to the price of their solar system. The 5kw system cost them 7 000. Firstly the benefit of solar power in nsw is that it reduces your power bill by around 400 per year per kw of solar so if you install an 8kw solar system you can save up to around 3 400 a year or 850 every quarterly bill.

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The size of the solar power system you install.

How much money do you save with solar panels australia.

Installing solar cut their energy bill by approximately 30 40. That means the household will now be paying for 5 6kwh of electricity. This is a 40 p a. In addition to saving on electricity bills you will earn one srec for every 1 000 kilowatt hours generated by your solar panels.

This amount multiplied with the cost of electricity will give you a total of approx. A 6 kw solar panel system will normally accumulate between 7 and 10 srecs per year. Srecs have a variable sales price but they represent extra income beyond your power bill savings. The size of the solar power system you install has a great impact on the amount of money you save.

Remember that this household uses 20kwh of electricity per day and its solar system produces 16kwh a day. Half of its solar electricity is used throughout the day 6 4kwh will be stored by the powerwall and 1 6kwh will feed into the grid. Larger solar power systems such as a 5kw unit will produce significantly more power than a smaller 2kw system for example. If you want to understand how much money can the solar panels save you you can make an easy calculation.

The average annual electricity use in the australia is 10 972 kwh per household.

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