You’ve probably seen 1000 ads and heard the same boring sales pitch from Solar companies out there telling you a Solar panel system will save you thousands and make your life easier, but is it true?
Well, just like anything else you buy for your home, Solar panel systems can be the wisest purchase you’ll make for years to come, but it can also set you back financially a lot more than usual if you make a blind purchase without educating yourself prior to choosing the right Solar quote. There’s an easy way to tell if you’re making the right decision by buying a Solar system and it all depends on the following 3 factors.
1. How much are you currently paying on electricity bills per quarter?
A 5.4kW Solar System installation by Red Giant Solar in Manly, NSW. 2018
Chances are you’ve felt the pinch like most other Australians, on that daunting evening when you receive your electricity bill in the mail which totally ruins your mood for the week. Electricity retailers have had a field day on the Australian market for way too long, without much pressure from policy makers to police them into being reasonable with their prices. So we’ve basically been condemned to paying ridiculous amounts for electricity due to continued failure in government regulatory policies.
Australian households pay more than 12% per kW than those in Japan and a whopping 33% more than those in Europe. And the sad part is, it won’t be slowing down anytime soon. Over the past 24 months, we’ve seen electricity prices soar by more than 30%, with that figure expected to rise in coming years.
“Electricity retailers have had a field day on the Australian market for way too long”
The best course of action for you to take? It’s simple, generate your own Solar power and take the reigns back off the electricity retailers. Even though you might not be paying over $500 per quarter now, chances are almost certain that you will be in the near future. It’s always recommended to install Solar panels on your roof if you’re paying over $200 per quarter, in order to save yourself from future market volatility as there has never been a better time to go Solar than today. This is due to healthy government rebates and the unprecedented low prices of Solar panel systems, which has been driven down due to increased demand and Solar Panel oversupply on the Australian market.
Apart from future proofing your home from such forecasts, it is statistically proven that a Solar PV system will add value to your home should you decide to sell one day, a lot more value than the $5000 odd dollars you would’ve forked out for it to begin with.
The 2nd big question about whether Solar panels are worth the investment is..
2. How will you finance the purchase of your new Solar system?
There’s a good old saying that goes, cash is king. And that’s true, however not everyone has a few thousand dollars laying around to splash on some new Solar panels. Since the Solar power industry has grown enormously over the last decade, so have supporting industries from the finance sector. This means you can now purchase Solar panels using green loans, with some financiers even offering 0% interest on Solar panel systems from accredited installers.
The truth of these finance packages is always in the fine print, so be sure to make an educated and informed decision when selecting one, which is something we will happily assist you with. Always keep in mind that by investing in a Solar system, the aim is to save money, and not to get stuck in a never ending cycle of repayments with ridiculous service fees.
In saying so, if you’re able to purchase a Solar panel system outright it always works out to be cheaper, minus all the paperwork. However, don’t be fooled by thinking you’ll always get yourself a bargain by buying a Solar system outright, this all comes down to the transparency of the Solar quote you choose to go ahead with and the honesty of the Solar company providing it, which like everything else you buy should be researched by assessing your Solar company’s reviews and professionalism from the get go.
And finally, size does matter after all.
3. What size Solar system is required to cover your electricity needs?
This point is of high importance even thought it comes last on the list. There’s a secret formula that we’ll let you in on, to determine what size Solar panel system you will need and it is….your electricity bill!
If you ever have a Solar company offer you a system without even asking how much power you use then that should be the biggest sign that you’re speaking to a Sales company rather than a true Solar company.
Somewhere on your electricity bill you will find your average daily usage, which is measured in kW’s consumed per day. Now simply divide that figure by 5 (which is conservatively the number of hours that direct sunlight will light up your new solar panels), and there you have it, this will give you a rough indication of what size solar system you will be needing to cover your electricity consumption needs. So if you’re using 25kW per day, you’ll need a 5kW system which consists of 20 Solar PV Panels and a Solar inverter. We’ll then tailor a system for you around these figures as well as your budget and available roof space.
Hopefully that’s all cleared up, if you have any further questions or would like to receive a free Solar quote from us now, it only takes 3 minutes. Fill out your details below and we will give you an on the spot quote for your new premium Solar system!
