Is it worth getting solar panels on my house?

Although prices have fallen, solar power systems still demand major investments.

Is it worth getting solar panels on my house?

Australians usually spend at least $4,000 on panels, inverters, batteries and optimisers. A large house may need equipment that costs over $10,000. Does it really make sense to spend this much money? It’s important to discover and evaluate all of the potential benefits.

Payback Period

calculate solar payback

If you decide to install solar panels, you may find that your electricity bill doesn’t change drastically at first. Nonetheless, people with efficient, well-made equipment can expect to achieve greater savings as time passes. Some of our customers receive $0 power bills and earn credits for the excess energy they produce.

Many Australians hesitate to spend thousands of dollars on photovoltaic panels, but it’s vital to realise that this equipment can pay for itself fairly quickly. The payback period varies depending on your location and power consumption. It generally takes three to seven years for people to recoup the cost of their panels.

Further Benefits

Solar Panels on Roof

 

Photovoltaic systems don’t only reduce electricity bills. Panels boost the selling prices of homes and expedite sales. Solar equipment differentiates a house from similar dwellings, so it often takes about half as long to find a buyer. Eighty-five percent of Australians believe that a panel-equipped home is worth more money.

If you’re still not sure, find out if your state offers solar incentives. A subsidy or special loan could make this equipment more affordable by cutting the initial cost. For instance, Victoria provides qualifying residents with interest-free financing and panel or battery rebates of up to $4,800.

Financial benefits hold great importance, but we shouldn’t overlook the environmental advantages of solar energy. The Sydney Morning Herald recently reported that coal mines and power plants rank among the nation’s worst polluters. Unlike photovoltaic panels, coal-fired stations emit sulphur dioxide, mercury and other toxins.

Bottom Line

Cheap Solar Panels

A cheap, poorly made system may fail before it pays for itself. On the other hand, it’s probably wise to install solar panels if you have enough money to buy quality equipment that comes with a long-term warranty. Be sure to choose a reputable brand like LG. Gradual electricity savings, a higher home resale value and environmental benefits add up to make this an excellent investment.

Nonetheless, every individual or family has different needs. Some Australians use much more electricity than others. The design and location of a house may affect its ability to generate power. To find out if solar energy is truly right for you, consult with a trusted installer. We can help you answer this question and identify the most suitable type of system for your home.

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