If you install a good quality solar system that is an appropriate size to cover your electricity usage, you will save money. The amount of money you save, however, is determined by a number of variables.
For the vast majority of people, the driving motivation for a solar purchase is to significantly reduce, or wipe out electricity bills altogether. For most of us, solar is an investment, and we want to see a return.
There’s a wide spectrum of potential savings. You might save a few hundred dollars per year to literally thousands. You could reduce your electricity bills by half, two thirds, or pay no electricity bill at all. While feed in tariffs remain, you may even make a little money. It’s quite common now to see people having paid $800 last quarter to receiving a credit of $15 next quarter.
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There are very useful usage household electricity averages and predictors. It’s interesting to note that most of us will fall into a typical category. Believe it or not, households across Australia share many lifestyle similarities relative to electricity usage.
That said, the devil is often in the detail. While our similarities are indeed pronounced, there are many aspects of our home lives that are unique to each household. To maximise solar savings, a solar system should be tailored to a household’s unique electricity demands and circumstances.
Making a return on your solar investment starts well before you install a fancy new solar system. Research and planning are critical to obtaining the electricity savings you have heard so much about, and envisaged for your household.
In the following article, we’re going to demonstrate the potential savings you can secure with solar. Done right, a solar system is a very smart investment.
As mentioned in the introduction, the devil is in the detail. However, let’s look at a highly simplified, bare bones hypothetical, just so we can gently get into the solar savings groove. There are no feed in tariffs included in this equation, which if included would make the figures slightly better.
Nothing is ever quite so neat and tidy as the example above. However, even without nuance and detail, these sorts of figures are very much attainable for the average Aussie solar family.
In this instance, the long-term savings are substantial. Even if the home in this example managed to use only 50% of the electricity they generated (a pretty low figure), they would have paid for the system within 4 years and saved over $33,000 over the life of the system.
25 years hence, the savings from this system more than covers the purchase price of a new, even better system with huge savings potential still remaining.
Yes, the scenario above fails to include a few realities and makes several assumptions. Let’s identify them.
Further to this, the addition of new appliances will impact consumption. The family may purchase two electric cars, install a large pool, or add three new rooms. This scenario does not include the potential for a very big increase in electricity consumption.
For argument’s sake, lets add a top of the range, wiz-bang Tesla solar battery. Effectively, this allows the household above to use 100% of the electricity the solar system generates.
Continuing on from the example above:
That’s absolutely huge. What’s more, the battery allowed them to be completely in charge of their own electricity generation. Electricity independence. With the addition of a couple of useful peripherals, the same household managed to avoid the inconvenience of local blackouts.
While this scenario might be deemed best case, it’s by no means unreasonable at all. In fact, for savvy solar customers, such a scenario is genuinely indicative. If you do your homework, choose quality systems and take advice from a reputable dealer, such an outcome is easily achievable for the average Aussie home.
While we could go into many other examples, the principles of benefitting from a solar investment are the same. Moreover, we could present multiple different lifestyle / homelife scenarios and never quite capture your circumstance.
The conversation goes like this: do you have a small, average, or large size home? Do you have $5,000 to $10,000 to spend? If not, could you save this amount for an investment? Is your annual electricity usage 2500kW hours to 15,000kW hours and beyond (not so far beyond that you’d be able to power a football stadium)? Well then, Solar is a smart choice, and the solar switch is worth it.
There are some pretty big qualifications to that last statement. Solar suitability and the amount you can save will vary greatly.
There is quite the list of variables that will impact the amount you can save with your solar system. Let’s have a look at the key issues that impact the long term value of your investment.
→ Your Home and Its Location
→ Planning. Getting the Right System for Your Home
Before you purchase, get informed about solar and speak with reputable professionals. You should also have a thorough understanding of your electricity usage throughout all stages of the year. Your current, recent, and past electricity bills are a great place to start.
Include all the dreams and desires you have for renovations, new inclusions, and additions to the family. You want a system that will cover your future needs. If it’s not financially viable now to buy a size to cover the future, make sure the one you purchase is expandable.
The more information you can provide a solar professional, the better advice you will receive.
The best advice ever, aside from insisting on a quality system, is getting a system large enough to suit your situation. If you embark on your solar journey underpowered, it’s quite likely that you’re are going to be disappointed.
You are far better off to pay more money and get way more than you need than go undersized and have to address it later. If you have the roof space, get a system that covers much more than your usage suggests you need.
Discuss efficiency loss over time with your solar professional. You may wish to compensate for this reality from the outset by getting a larger system.
→ Avoid Cheap Solar
While the solar world has a high level of consumer support and regulation, it doesn’t stop the determined shonky operators.
Decent 6kW solar systems start around $6,000. You should be wary of suppliers offering a lower price for a system of this size. Only use well established solar providers. Read through all the specifications of the equipment. Make sure you understand what you’re buying and why.
→ Lifestyle
With a solar system, you will maximise electricity savings by using your power hungry appliances while the sun is shining. If you don’t have a quality solar battery, any electricity you use at night will come from the grid. Here’s what you can do to maximise the power drawn from your panels:
Ok, you get the lifestyle drift. However, we can hear you saying, “But we’re at work and school during the day, much of our usage is in the afternoons and evenings…” This may well be the case.
The idea is to identify changes you can make to reduce evening power draw. The more appliances you can reserve for daytime use, the better.
Obviously, it’s not practical to use no electricity in the evenings. The idea is to reduce power use where you can. Use more power during the day wherever it’s possible.
Alternatively, and if the budget permits, purchase a solar battery. This is perfect for families with high night time power demands.
Over the life of a solar system, an appropriately sized and quality system can save you tens of thousands of dollars. Make no mistake, if you do it right, these numbers are likely for the average family.
Millions of Australians have already gone solar. Subsidies have made the purchase accessible, and millions have discovered the enormous savings that can be made.
Ultimately, the amount you save will be determined by your dedication, your circumstances, and your geography. Of course, the size and orientation of your home will play a big role as well.
But such is the efficiency of quality modern solar technology, even those in the most solar compromised circumstances can find a solar solution that will allow them to benefit from significant savings.
Solar is a wise investment for the average Australian home. The outlay is returned quickly, and you start saving fast. Over the long term, you may even forget you ever had an electricity retailer. The amount you can save over time varies from household to household, but for the average Aussie family, electricity cost savings can be… sensational!