Solar systems are an innovative technology, using photovoltaic (PV) panels to convert the energy from sunlight into electricity. Using this technology, we can now harness the free and renewable energy of the sun to power our homes and offices.
As technology continues to improve and the prices drop, many Australians are reaping the benefits of installing solar panels. Over 2 million homes now have rooftop solar systems installed.
If you’re still deciding whether installing a solar system is the right investment for you, we’ve outlined 10 reasons to buy a solar system today.
1. Generate your own electricity
Solar systems provide you with a means of generating your own power; converting sunlight into electricity.
Solar power only works while there is sunlight available for this conversion, so after sunset you will go back to drawing power from the electricity grid. However, with the installation of a solar battery system, you can store any unused electricity generated during the day, to provide power to your home at night. These systems are becoming increasingly common as the technology behind them improves, and they’re a useful source of back-up power.
Even if you only use electricity at night, you will still gain the benefits of a solar system with the use of a battery.
2. Lower your power bill
Using electricity that’s not drawn from the grid can drastically cut the cost of your electricity bills. When you use solar, you’re using sunlight to generate free electricity, rather than being charged per kWh to buy it from your energy service provider.
If you use more electricity than your solar system generates, you’ll revert to the grid to supplement your power. However, by installing a solar system, the typical Victorian household can save $1,000+ per year on their electricity bill.
3. Get paid for what you don’t use
If you use less electricity than your solar system generates, any excess energy will be directed back into the grid, and you will be credited for the supply.
When setting up your new solar system, talk to your energy provider about applying for a feed-in tariff and the rate you’ll be paid per kWh fed back into the grid. It’s a good idea to compare rates between different providers and find the best overall deal.
When you consider that a solar system cuts the cost of your electricity bill, and generates money through feed-in tariffs, it’s easy to see why they’re an excellent financial investment.
4. Beat the electricity price rises
The years between 2008 and 2018 saw a staggering price increase of 117% for power in Australia.A solar system allows you to reduce the impact of these price rises by generating free electricity.
While there is an upfront cost for the resources and labour involved in building and installing your system, the energy itself is free. The sun can’t be monopolised, and Australia has an abundant supply. Solar panels still work on cloudy days, so even in Melbourne, there’s enough sunlight to provide power through a solar system.