Six compelling reasons to seriously consider investing in a solar PV system
Power prices in Australia have doubled over the last 2 years and there doesn’t seem to bemuch relief in sight.
There are things that you can do such as using less electricity and installing more efficient appliances but above all, the best thing you can do to protect yourself against further price
rises in install a solar power system on your roof.
Here’s are 6 compelling reasons why you need to seriously consider investing in a solar PV system for your home:
1. Protect yourself against escalating power prices
Because you’ll be buying much less from the grid and then the power you do consume from your roof is free, you won’t feel as much of the impact of future power prices rises.
2. Generous rebates are still available
Under the Federal Government’s Renewable Energy Target (RET), when you install a system you produce Small Technology Certificates (STCs) which are a form of rebate. This amount is taken off the price of the system by the installer and depends on the system size you install.
3. Get paid for what you don’t use during the day
A Feed in tariff is the payment you’ll receive from your retailer for the power your system produces that isn’t consumed in the house, and therefore sell back to the grid. Different retailers offer different rates so once your system is installed, it’s worth shopping around for
the best rate.
4. One of the best investments you can make
A solar system is a financial investment first and foremost. You pay for the system up front and then receive financial returns in the form of reductions in your electricity expenses. As an example, you might pay $5,000 for a 5kw Solar system and save $1,250 per year on your
bills meaning that the system will pay for itself in 4 years which is equal to a 25% return on investment. Try getting that from a bank!
5. System prices have never been lower
Due to the rapidly falling cost of solar technology, installing a solar system now costs approximately 75% less that it cost 5 years ago. Systems prices now range from $3,000 for a 2kW system up to $6,000 for a 6kW system.
6. Financing options available
There are multiple ways that you can finance your system, you can draw down on your home loan which is the one of the cheaper ways to finance your system, you can source a loan through your own financial institution or you many solar companies now provide
finance options.
As you can see, the reasons for installing solar are quite compelling and those who don’t install solar are missing out on the benefits and will continue to pay more for their power
than they should.
The best way to find how solar can benefit you in your situation is to get 3 quotes from installers who service your local area. Solar Market has a wide network of Clean Energy Council accredited installers nationwide who can assess your situation and provide you with
quotes.
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