The solar industry during the pandemic
COVID-19 has had a definitive impact on the solar industry so far in 2020. This is especially true in Victoria where stage four restrictions have affected many businesses and workers until 13th September, wherein the criteria for essential travel and business will be compared against the current infection rate data available to the Australian Government. Until then, most employees and businesses have been forced to work from home if able, requiring them to adapt in a short period.
More now than ever, solar can bring many benefits to the new working environment during the pandemic. First, how have the stage four restrictions and COVID-19affected the solar energy industry?
Solar providers understand that this is an unprecedented time for businesses and clients from all walks of life and have adjusted how their businesses operate to ensure that people still have access to the same services and benefits available before the pandemic. One of the changes that providers have made is the creation of a strict set of procedures to ensure that solar system installations are contact less. This is a major adjustment for an industry that has relied on person to person interactions more so than other businesses.
The “COVID-19 bill shock”
The shift from the workplace to working from home has had its own set of difficulties that are unique to every household. However, one challenge that is facing every home currently is the increase in household expenses. The use of laptops and mobile devices for work, remote learning for children, and communication has skyrocketed to levels not previously experienced by many families. This has now become known as the “COVID-19 bill shock” and it is starting to have a real impact on the lives of many around the globe. This is especially true for homeowners currently struggling with reduced household incomes and the possible loss of employment.
It is now more important than ever to research how expenses can be cut and electricity bills lowered to manageable levels. This is where solar comes into play.
Would it be wise to invest in solar power during the pandemic?
The home power surge
The shift to working from home during the COVID-19 pandemic has caused home electricity bills to sky rocket. This is the major factor behind why so many Australians now have plans to purchase a solar panel system.
However, many Australians are still only in the research stage and are putting off the swap until life begins to return to normal – but this could be a huge mistake. One of the biggest reasons for opting to follow through with solar power installation sooner rather than later is the falling Australian dollar.
Even before the effects of COVID-19 were felt across the finance industry, the Australian dollar has been in slow decline over the last couple of years. Restrictions across the country have now caused the value to drop even further. Economists predict an even lower value for the Australian dollar within the next few months.
With how the prices of commodities are linked with exchange rates, many solar providers have stated they will not be surprised if solar panel systems and installations become more expensive. For homeowners who are currently researching to swap to solar, it may be a smart decision to purchase now before it becomes more expensive.
Waiting for the pandemic to be over may not be the best decision, especially if saving money is a priority – which is for most people the most important motive for wanting to swap to solar.
While there are a lot of unknowns in regards to this pandemic, the solar power industry has proven to be resilient throughout many crises before. So now maybe the best time to take action.
Solar and working from home
Solar power provides a certainty of making savings on your utility bills during the pandemic, especially if the majority of your work is done during the day. This is because of how solar panel systems work.
An in-depth breakdown of how solar panel systems work is available in a previous article, but as a short recap:
- Solar panels capture sunlight.
- They turn that sunlight into a Direct Current (DC).