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Benefits of installing a solar power system

Benefits of installing a solar power system

Published: September 09, 2020 Last Updated: September 16, 2020

Why switching to solar power is a great idea?

Low maintenance costs

Solar power systems are very low maintenance. Getting them cleaned and serviced annually is about the sum of the maintenance requirements. They can last for 25 years with minimal expenses on maintenance and repair.

Reduced utility bills

Did you know - electricity costs have risen by 117% in the last 10 years.

According to Canstar Blue, households in Australia are spending $1400+ annually on electricity bills. In Queensland, the average electricity bills were found to be $1367. You can avoid paying high electricity bills by switching to solar. Moreover, you get credits for the unused electricity your system generates in the form of feed-in tariffs, further adding to savings.

Value for money

Comparing it to traditional electricity - which offers zero savings, whatever amount you save will add up in the long run and help you pay back the cost of solar system installation.

Queensland is a sunny state, the Gold Coast receives over 300 days of sunshine, while Brisbane has around 283 days of sunshine each year. It just makes perfect sense to take advantage of this free energy resource.

Solar Payback refers to the time it takes for you to breakeven, i.e. the time it takes for the savings on electricity costs to match the investment on your solar system. For example, if the cost of installation is $10,000 and you save $2000 annually on your electricity bill, your solar payback time is 5 years. On average it would take you 4-6 years to payback your solar system cost.

The solar payback time depends on several factors like:

  • Size of solar power system
  • Location
  • Energy provider
  • Electricity usage
  • Energy efficiency
  • Sunlight hours in your area

Clean energy

Solar energy is renewable and an infinite source of clean energy. Using solar energy reduces our reliance on non-renewable energy sources like coal, oil and natural gas. Another benefit solar offers is a minimum emmission of greenhouse gas. By installing a solar power system you are reducing your carbon footprint and making the environment better for our future generations.

Electricity production by the burning of fossil fuels is the largest producer of greenhouse gas emissions - each kWh of electricity creates 1kg of CO2. Conventional electricity generation accounted for 178.5 Mt CO2 emissions in 2019, i.e 33% of the total emissions in 2019. In comparison, a 6.6 kW solar system can save around 10.6 tonnes of carbon dioxide emissions. And in its lifetime of 25 years, it can help reduce GHG emissions by over 250 tonnes.

Financial incentives

The Australian and State Governments offer financial incentives (in the form of Small-scale Technology Certificates) for the installation of renewable energy systems helping to reduce installation costs. The STCs are allocated to the buyers when they purchase an eligible system. The size of your system and your location will determine the number of STCs you can claim.

In a nutshell, STCs help you get a rebate on the purchase of your new solar PV system.

Increased property value

According to a survey conducted by Origin Energy, 77% of Aussies think a house with solar energy is more valuable. If you own a home, installing solar panels can boost the value of your property and also fetch you a higher price when you decide to sell. Even tenants are inclined to spend more money on rent for a house installed with a solar system.

Switch to solar energy

Thousands of households all over Queensland have switched to solar, so why not you? Contact Pugin Power on 1300 150 735 or book using our Solar Enquiry form. At Pugin Power, we can help you with the installation of a solar system based on your energy requirements and budget.

Sources

  • https://www.environment.gov.au/system/files/resources/6686d48f-3f9c-448d-a1b7-7e410fe4f376/files/nggi-quarterly-update-mar-2019.pdf
  • https://www.lgenergy.com.au/faq/buying-a-solar-system/is-solar-power-truly-co2-free#:~:text=In%20Australia%20each%20kWh%20of,of%20CO2%20emissions%20per%20year.
  • https://www.canstarblue.com.au/solar-power/solar-installation-cost/
  • https://www.finder.com.au/how-long-until-my-solar-panels-start-saving-me-money
  • https://www.canstarblue.com.au/electricity/average-electricity-bills/