Is It Worth Getting Solar Panels In Melbourne

So is solar power worth it in melbourne.

Is it worth getting solar panels in melbourne.

What you re compromising on is not just the time of an installation team it s also the quality of the mounting kit running high voltage cables safely using good quality isolators the main fire risk doing a clean job and providing support for you after the installation is done. If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. While solar leases and power purchase. Australia is home to some of the best solar energy resources in the world.

Inflation at 2 5 and a 5 discount rate. Solar is worth it financially. The bonus of solar power is that it will add value to your property let s face it electricity isn t getting any cheaper in nsw it s expected there ll be an annual average increase of. Although melbourne is a bit further south than brisbane or sydney there s still enough sunshine to make panels a worthwhile investment.

How are you financing your solar panel system. Up to 5 4kwh for a 1 5kw system. Ok so is getting solar still worth it. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value.

Generally solar power will be a great investment that can significantly reduce your power bills for decades. If a homeowner paid 18 000 for solar those panels don t necessarily add 18 000 to the resale. According to chris barnes from consumer group choice the answer is pretty clear. But it s not a straight calculation.

Panels that are owned add some value to the resale. Assumed that 50 of solar energy is used by the home self consumption rate panels are tilted to the north at 30 pitch. In fact a 5kw solar system can save you up to around 50 000 over the 25 year life of the system and can be the single most effective way to reduce your carbon footprint. According to pvwatts a typical melbourne home s roof receives about 4 8 kilowatt hours kwh of raw sunshine per square meter per day while the bom gov au website averages work.

Up to 7 2kwh for a 2kw system. As you can see for most australians they can install solar and have the system pay for itself within 6 years.