Is It Worth Getting Solar Panels In Nsw

How are you financing your solar panel system.

Is it worth getting solar panels in nsw.

These prices reflect estimated costs within sydney nsw the actual cost of your solar panels can vary greatly depending on where you are what system you re after and your installer for a specific quote get in touch with your preferred installation specialist. Solar choice september 2019 solar price index. Assumed that 50 of solar energy is used by the home self consumption rate panels are tilted to the north at 30 pitch. Firstly the benefit of solar power in nsw is that it reduces your power bill so if your bills are only 200 a quarter at best you may be able to save a few hundred dollars a year.

We generally recommend you have a quarterly power bill of at least 400 to be able to get any significant saving. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. Inflation at 2 5 and a 5 discount rate. Solar photovoltaic pv systems or solar panels are a way of capturing sunlight and converting it into electricity.

As you can see for most australians they can install solar and have the system pay for itself within 6 years. It s a question we get asked dozens of times a day and for most households installing solar panels is worth it. In almost all cases for almost all homes yes it s still worth it he said. Solar panel prices are at a record low with an average sized 8kw solar system with good quality panels now costing as little as 8000 9000 fully installed generating over 30 kwh a day averaged out across the year.

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. Most households with storage units will opt for a 4kwh solar system which will cost around 6 000 to 8 000. Some renewable energy advocates have criticised the trial as being too restrictive and excluding other low income households. According to chris barnes from consumer group choice the answer is pretty clear.

They reduce the amount of electricity you need from the grid which lowers your energy costs. While solar leases and power purchase. Ok so is getting solar still worth it. The average sydney household can save up to 900 a year by installing a 4 kilowatt solar system on their roof.

If you first need a solar panel system installed then that can cost anywhere from 2 000 to 12 000 depending on system size. Given the free solar system is worth 4 000 and having solar will give potential savings on quarterly energy bills this may be a worthwhile way to get into solar for those who are eligible. Solar is worth it financially.