Does Solar Make Sense?
That's a good question. Firstly, I would answer it by saying it depends on your circumstances:
- How much power you use?
- Plan to use?
- Not using?
- When you use power?
- What can we restructure?
- How long will you be in your home?
For most people, it makes undeniable sense from a payback and return on investment (ROI) point of view. There is nothing better that we can invest in, in our own home that actually reduces costs or in some cases turns a profit. Generally, the ROI is 25%-40% - that's an awesome return! Try getting your bank to give you that much interest on your money. What it means, is that you can even enter a repayment plan with us where the savings on your electricity outweigh the repayments, turning 'dead money' on your electricity bill into an investment proposition.
Generally, savings vary but average around 80% depending on the sizing of your system, available roof space and the type of service you have connected to your home, as either single phase or three phase power.
Currently, there are two great incentives to make that decision now.
- Solar Panel subsidies (STC's) of up to $8,000 on single phase premises and depending on system size.
- Export Some electricity providers are offering up to 20cents per Kilowatt hour exported.
(If some of the terminology I am using is bewildering, you can reference our jargon explained page.)
In most cases all customers will be cash flow positive on a repayment plan and if purchasing outright can expect payback in 2.5 to 4 years.
So does solar make sense? In most cases you would have to say, it's a no-brainer!