Is Solar Still Worth the Investment?

Is Solar still worth it? It’s a question we now hear a lot from customers, with the removal of the high Government Feed In Tariffs and the existing RET under threat by the existing Abbott Government. While here at SAE group, we appreciate the advantage of solar is to make use of your power during sunlight hours, and that many people work during the day, the following points may assist you in deciding to look at solar. As with everything it is always best to get informed advice, but bear the following in mind:

1. Fridges and freezers are on 24hrs a day so solar can realistically knock out 30% of this part of your power bill
2. Any fish tanks or heated pet enclosures likewise 30% can be taken off
3. Pool timers can be put onto during the day knocking out 100% of their power cost
4. Hot water timers can also be fitted turning your system over to solar power
5. Washing machines and dishwashers now have timers to cater for their use during solar hours
6. Where you work full time during the day you still have 120 + days of weekend and public holiday where you are at home and using your power during the day

Realistically a solar system will look to remove around 40% of the power bill of a couple both working full time.

While there is no point in putting up a bigger system than to cover your requirements for a 12c FIT that is if you are with Click Energy who currently offer the best FIT as of Aug 2014. However, if you are looking to add batteries in a couple of years and cover your night-time use as well, then purchasing a bigger system while the rebate is still available would be a wise choice (or look to pay around $4,700 more on a 6 kW system in the future after the government cuts the rebate).

With a resultant payback time of around 3.5 years and a return of investment (ROI), in the region of 15-22% many people are now realising solar is still a very wise choice to make, especially as every time the power companies put their prices up the payback time decreases and the ROI increases.

Talking to someone who can help and advise you on all things solar is the first step to making an informed decision on what will help to cut your power bill and set you up for many years to come. Best of all with SAE Group all this information is free and comes without obligation.

Still not sure? Contact us today to discuss your best options.