Why Solar Energy Makes Perfect Sense to Australia
Australia’s latest greenhouse gas figures have been released and showed that the national emissions have fallen 0.9% in the electricity sector. This result has been mostly contributed by the rapid deployment of renewable energy slashing emissions in the electricity sector. In these recent years, rooftop solar installation has been more common and affordable enough in Australia. In fact, more than 300,000 solar panels have been installed in Australian homes.
To get the most out of a solar PV system these days is to use as much energy as possible directly, without purchasing energy from the grid, which so-called solar self-consumption. This would save the users about $0.20-$0.30 per kilowatt-hour (kWh) depending on their location and electricity retailer.
According to the Clean Energy Report, a 1.5 kilowatt solar photovoltaic (PV) system can avoid about 2.2 tonnes of C02 greenhouse emissions from being emitted each year. Installing solar panels as soon as possible is an excellent way to help the environment while having a great reduction in electricity bills.
Here are the top 5 reasons why solar energy makes perfect sense to Australia.
Cost of solar systems is low.
Solar electricity in Australia costs less than it would from new coal and gas plants. In fact, the advance of manufacturing technology in the global market has decreased the price of solar modules by more than 75% in the past five years. This impressive price drop also means that the average size of a home solar system has more than doubled, increasing from 1 to 2 kilowatts to between 4 and 5 kW – this can have a far bigger impact on your electricity bills.
Payback time is short.
Australian homes can use at least 30% of the energy it produces directly if they choose a solar system sized appropriately. Generally speaking, for a sunny country like Australia with a self-consumption rate of 30%, payback times for 5kW solar systems are under 6 years on average, compared with a panel lifetime of 30 years. In Adelaide, Brisbane, Darwin, Perth and Sydney they’re easily under six years. The internal rate of return (IRR) for a solar system in each city is easily over 15% – on average 18% but as high as 32% in Adelaide.
The sooner you buy, the sooner you save.
The energy prices have forecasted to increase in the next couple of years, but the solar power costs are at all-time low. Therefore, letting off the purchase of solar power systems does not make any sense. Generous subsidies and other incentives are currently available in all Australian capital cities to install solar power. But no one can assure how long they will be around for. But the fact is, various governments throughout Australia have slashed, changed, or reduced rebates and incentives with little or no warning on numerous occasions.
Fluctuation of Renewable Energy Certificates
Small-scale Technology Certificates (STCs) form the upfront financial incentive based on the market price of the STCs at the time of installation, which fluctuates depending on supply and demand. A difference of even a dollar can have a significant impact on the price you pay for a solar power system –and prices have fluctuated by as much as $10 per REC.
Solar panels increase the value of your home.
Upgrading your home with solar panels is definitely a good choice when it comes to selling properties. Based on the trend in the Australian real estate market, home buyers are increasingly leaning towards green and they are willing to pay more for good quality energy-saving features. Additionally, solar panels have long life spans, so getting in a solar power system is still worth it in the sense of the benefits that we mentioned earlier.
Be Part of the Solar Power Revolution
We are passionate about helping to green the planet, and we hope that we can connect with partners who have the same passion as us. Raystech has developed into one of the leading wholesalers and importers to the solar and electrical marketplace. Projections for 2020-21 will see the supply of 198MW of solar panels and balance of systems. By continuing to develop supply partnerships with both retailers and suppliers Raystech has a promising future. Talk to one of our sales experts at 1300 799 988 and be part of our retail partners.