Here’s an interesting fact:
If you’d installed a Solargain system in January this year, you could have saved over $1500 in electricity bills by now* – just 11 months!
The city you live in, weather conditions and your energy retailer agreement all affect this number – but the point is there are clear benefits of switching to solar, particularly over a lifetime.
An average Solargain system that’s regularly maintained can easily last over 15 years; with the panels expected to endure for 20+.
However, working out annual savings is not as simple as multiplying $1500 by 20. Lifetime savings from solar panels are impacted by the efficiency of panels and changing cost of electricity.
Exciting developments like upcoming battery storage technology could also make a huge difference to the amount of money you save with solar panels over a lifetime.
A recent American study revealed that in the States solar saves consumers an average of $20,000 over 20 years, including savings of over $30,000 in the south east.
Though it’s impossible to determine the exact savings from solar panels over a lifetime, here’s what we do know:
- The cost of installing solar panels today is less than a quarter of the price a decade ago
- Many predict that solar PV will become the most affordable form of electricity production for retail consumers in Australia (and it’s already competitive in many cities)
- Solar panels can increase the value of a home by up to 27%
These sunny figures definitely point to a bright future for solar power in Australia and most importantly a win for the growing list of Aussies putting panels on their roofs.
For a detailed analysis about your personal savings potential, get an obligation-free quote from our team and get the ball rolling!
Solargain
Based on a 5kW PV system. Results are dependent on orientation, tilt, and shading of the solar modules and are affected by specific installation situations. Units per day is an average per year and will vary month by month.
Based on 100% of power generated by the system is used by the consumer. Calculations are based on a fixed average cost of energy in Perth, WA and production units and do not take into account specific agreements with your energy retailer (e.g., peak and off peak rates).
Sources
The Critical Decade: Australia’s Future – Solar Energy
Blog - https://www.solargain.com.au/blog/australias-solar-power-revolution-infographics
