How Much Can You Save With Solar Power?
Here in South East QLD/Northern NSW, we have the perfect climate for solar energy!
Our abundance of sunshine means that you can achieve high savings on your quarterly electricity bill, as often solar panels will produce more power than your household consumes.
Are you considering making the switch to solar, but are not quite convinced it’s the right option for your family? Read on to find out why solar is the best cost saving investment you can make!
Will a solar system save me money?
The short answer is YES! But let’s compare:
Electricity can cost between 33 to 35 cents per kWh VS
Solar Power only costing around 5 to 6 cents per kWh to produce.
In a nutshell a higher power bill equates to a larger saving.
For example, if your quarterly bill is higher than $500, you will benefit significantly from running your home off solar power, instead of relying on the costly grid.
Plus any additional power generated from solar that you don’t use, will be fed back to the grid and in return you will be paid a small amount from your energy retailer – typically a $10-$30 credit each quarter.
Less grid dependence + feed in credit = MONEY SAVED 😊
How many years will it take for my solar investment to break even?
The great news is your solar will eventually pay for itself!
Typically, you would break even somewhere between 4 to 7 years, but it is now not uncommon to get a good quality system to pay for itself in as little as 3 or 4 years.
But don’t let that timeframe put you off. According to Domain, installing a solar system in Brisbane could save you up to $67,000 over 25 years.
Evidently the upfront costs are worth the long-term return on investment.
How much can I save with Solar?
The potential savings to be gained with solar are immeasurable, when you look at both the monetary gains and environmental improvements! But let’s focus on the dollars and cents for a moment…
The amount of money you can save with solar panels is dependent on several factors, including:
- Your average energy consumption
- Your energy usage patterns
- Your feed-in tariff rate
- The size of your solar system and
- Where you live
However, as a rule, you can save up to $3,400 per year, based on an 8kW system.
According to Solar Gain:
In Queensland a 3 kW system will save homeowners $1,146 per annum when 5% of electricity is fed into the grid, or $1,060 when 25% of electricity is fed into the grid.
In New South Wales, a 3 kW system can save you $1,126 when 5% of electricity is fed into the grid, or $934 when 25% is fed into the grid.
It’s time to feel those savings!
The numbers truly do speak for themselves.
Investing in a solar power system will not only save you money on your quarterly power bill but will eventually pay for itself.
The long-term return on investment is huge, and with Omega Care, you also get maintenance and annual servicing to ensure your solar system will operate at peak performance for many years. All designed to give you the best value for your investment.
Ready for the next step?
If you’re ready to join the “We Care” solar family, Contact us today and have a chat with our team! We’re always on-hand to answer any questions you might have or book a site inspection for your property.