Unless you are planning on installing a solar system to save the environment you need to look at the financials to see if they stack up. With power prices increasing the chances are that solar will be a great investment.
In Queensland the solar bonus scheme is a net metered scheme which means that only the excess electricity that you produce if fed back to the grid and the primary source of power for your home during the day is solar.
This means that anything you use during the day will be power 100% free of charge by the solar. To understand a little more about how solar works please visit our information page by clicking here.
The savings that you make each quarter will vary according to a number of factors including the weather, how much power you using during the day, what appliances you are using, how much you are paying per kWh from the grid, the value of the power being sold to the grid and most importantly the size of the solar system you have.
This table demonstrates how much the average person using 70% of the solar and exporting 30% would save on power over the next 10 years.
The savings if you are able to use all of the power you produce are substantially greater than the savings you will make relying on your power company to give you credits for exporting power. For this reason we encourage people to use as much power as they can during the day and to try and limit the power they use as much as they can in the evenings.
Our customers see on average savings of around $500-$600 per quarter with a 5kW system. These savings will grow each year as the cost of power increases.
To verify these production figures visit www.cleanenergycouncil.org.au. To verify the power cost increase have a look here.
Useful Tips when installing solar:
1. Use as much power during the day as possible.
2. Identify the hours that your solar works the best (speak to your consultant) and try to use your heavy usage appliances during these times.
3. Reduce evening consumption where possible and use efficient appliances and lighting such as LED bulbs or Energy Saving bulbs.
4. Replace any old fridges and faulty appliances where possible.
5. Run your air-conditioners through the day to cool your house down instead of during the evening.
6. Run your pool pump on the peak tariff and set it to run during the day.
7. If your hot water unit is on the peak tariff install a timer to ensure that it heats the water during the day.