Shocking new figures about the financial benefits of solar panels available
One in five Australian households is currently powered by the nation’s abundant sunshine, meaning that it boasts the highest penetration of residential solar in the world. While the debate over solar and wind tax credits rages on, the government’s decision to slash various incentives hasn’t affected the ever-rising investment in solar energy. The prevailing strength of the solar industry is thanks to a sharp drop in the initial costs of PV panels (photovoltaic panels) and the continuing rise of electricity tariffs.
With heightening energy costs and a growing demand for energy, now is the time to upgrade your home and lifestyle by embracing renewable energy technology. There is a great incentive available when choosing to go solar: the solar Feed-in Tariff. Once your grid connected solar panels are installed, any excess energy produced will be fed back into the grid and you will receive a credit on your account. This is measured by the new bidirectional power meter which is installed once your panels and inverter are in place. And if you produce more energy than you consume, you will be paid for it; up to 25 cents per kWh!
In any situation, there has never been a better time to buy solar panels in Australia. In less than 5 years, the price of solar panels for homes have dropped by as much as 75%. Consider that back in 2012 you were looking at $15,000 to $20,000 for a 5kW system, that same system now can be bought for between $4,000 and $8,000 installed. The average Australian household would likely need a solar power system between 3kW and 5kW, but it also depends on your personal wishes. Because this sharp drop in the initial costs of solar panels, combined with the available solar Feed-in Tariff, it has never been more interesting to have a solar panel installation installed on your rooftop, especially because electricity tariffs will rise even more in the future.
At the end of the day you will want a system that is reliable, cost-effective, and will save or even earn you money. With so many options on the market, finding a solar power system that meets your budget requirements is easier than ever. Determining exactly which one is best for you will be a much harder decision. Fortunately, there are online services that provide homeowners with solid advice. One of the most trusted, secure and free online services is 3Quotes. Over 150,000 consumers have already trusted 3Quotes in order to get a realistic insight into the possibilities.
Check your Feed-in Tariff here:
Step 1: Click on the state you’re living in on the map below.
Step 2: Once you go through a number of questions, you will have the opportunity to compare the best quotes in your area.