A solar panel installation in Australia is a wonderful and effective way to deal with electricity price rises that continue to affect us from time to time. Not only does a solar panel installation protect us from energy cost inflation, but it also helps us make the planet healthier for the future. You have a worry-free mindset when you generate your own electricity with a solar panel installation on your roof. You do not worry constantly about high energy bills in summer when the air-conditioning remains on for long hours, and neither in winter when you want the house to be on heating 24/7.
But how exactly does the big investment of a solar panel installation help us save money? You may want to know how the economics of solar work to give you financial benefits from installing solar panels. In this blog, we shall go over the different ways solar panels help us save money.
- Reduced grid dependence
Grid power is expensive. When you generate your own electricity to power your home, you will draw lesser from the utility grid and make huge savings. In times of high demand, the utilities charge even higher prices to supply the power needs of consumers. With a solar panel installation, you are safe from such high charges and your savings increase even more.
- Energy prices
Energy providers have been raising electricity prices and shall continue to do so in the future as energy resources like fossil fuels are becoming scarce and thus costlier. A solar panel installation secures you from the continual electricity inflation and you can make big financial savings on your electricity bills every year with solar panels. And once the panels have paid themselves off, you can enjoy free electricity for more than two decades.
- Electricity export
With solar panels, you will save money on your power bills and also make money by sending any unused power that your panels generate back to the grid. The utility will purchase your solar energy according to the prevailing tariffs or grant you credits for the same to offset your power usage from the grid in the future.
- Solar panels enhance property value
Investing in solar panels offers the unique advantage of enhancing your property’s value. Buyers are willing to pay a higher price for homes with solar panel installation than for homes that haven’t. Even the rental income generated by a home with a solar panel installation is higher as tenants will save on their electricity bills when renting such a property.
- Backup power
Most Australian households have parents going to the office and children attending school during the day. If you are also away from home during the daytime when the solar panels are producing electricity, you can store it in batteries and make use of it at night when your panels won’t be generating power. This will drastically cut down your energy bills as your usage from the grid in this scenario will be negligible and your savings from solar will be pretty high.
The more you use solar power, the lesser you will draw from the grid and the higher your savings will be. With huge savings from solar every year, your panels will pay themselves off in the first few years and from there you will continue to reap free electricity for more than 20 years and can contribute hugely to family savings. To help balance the initial solar panel installation cost there are still handsome solar panel rebates in Australia which reduce the financial pressure of the investment to a good extent.
If you wish to further your benefits from solar and desire to invest in a solar battery, you can receive great solar battery deals in Australia from credible CEC-approved solar companies as there are attractive solar battery rebates in Australia that can bring down significantly the initial cost of investing in a battery. With generous solar panel rebates in Australia and solar battery rebates in Australia prevailing, the best time to go solar is indeed NOW.Get in touch with Solar Power Nation for genuine solar panel deals and solar battery deals in Australia.