Installing solar will not only reduce your electricity bill but it can reduce your environmental footprint. As such, the government wants to see greener energy sources all over the country, therefore they are incentivising solar energy production.
How Solar Power Works
- The sun shines on the solar panels generating DC electricity
- The DC electricity is fed into a solar inverter that converts it to 240V 50Hz AC electricity
- The 240V AC electricity is used to power appliances in your home
Returns on Investment
Depending on the size of your solar panel system, you could earn back the cost of the system in 3-6 years. A solar system will help you reduce your energy bill because you won’t be using as much electricity from the grid. The cost of electricity is rising, so the more you can generate your own power, the more you’ll be saving. Surplus electricity can be stored and used later, especially during peak periods when the rate may be higher. For any excess energy produced that’s unable to be stored, it will be fed back into the grid and you will receive a feed in credit from your energy retailer.
Increased Property Values
If you decide to sell your house in the future, the value of the property will increase and will make it more attractive to potential buyers.
When you utilise solar power instead of conventional power sources you will greatly reduce the amount of carbon emissions produced. This makes for a cleaner, healthier environment and reduces harmful greenhouse gasses that can damage the atmosphere.
What Type Of System Would Be Suitable For Your Home?
Installing a solar panel system to your home will likely help you save money over the long run, as long as you live in the home long enough to recoup the costs. However, it could be worth it even if you do end up moving and selling your home. The key things to consider when deciding whether or not it’s worth it are:
- Consumption habits and patterns
- Where you live
- Feed-in tariffs