why solar power is a good financial investment
The solar energy industry has come a long way in a relatively short time in
Australia. As the average cost of producing electricity with solar panel
systems has continued to fall, the speed of adoption has increased
exponentially. It is estimated that 1 in 4 homes in Australia now have a solar
energy system, with more homes adopting this technology all the time. But is
solar power a good investment and will it save you money in the long run?
This blog will answer all these questions and more, as we take a closer look
at the current state of the solar power industry in our country.
Is solar worth it?
From a purely financial standpoint, residential solar systems make good
sense, so when we’re asked “is investing in solar power a good investment?”,
we can answer with an unequivocal yes. Commercial systems also offer
businesses potentially huge savings on their energy costs in Queensland.
While a well-designed, efficient solar panel system can offer a lot more than
lower electricity bills, this is undoubtedly an important factor for many
businesses and homeowners in Brisbane.
Is solar power cost-effective?
In comparison to electricity that’s produced from burning coal, natural gas or
other fuel, solar power is definitely more cost-effective but what most people
want to know is whether it is cost-effective for the average homeowner in
Australia. And, thanks to the falling cost of solar energy systems, it is. The
payback period for the most popular solar panel systems available today is
just 2 – 5 years, depending on your electricity usage and the initial cost of
Does solar power save you money?
The average household and business in Brisbane can make significant
savings on their annual energy bills by investing in a new solar system. Once
you have recouped the cost of your system, you will be able to enjoy tariff-free
energy from the sun — saving you a considerable amount of money every
If you still find yourself asking the question, “will solar save me money?”, we’d
be happy to do the calculations and provide you with real-world figures. Just
call or email us for full details.
How do solar panels save you money?
There are two main ways in which solar panels can save you money. Firstly,
they provide you with electricity to power all the electrical appliances in your
home, which means you don’t have to pay a local electricity supplier anymore.
Secondly, a good-sized system will produce electricity that is surplus to your
requirements, which you can sell back to your local supplier.
How much is a solar power system?
While we know that solar systems can save you money once you’ve recouped
your initial investment, how much will you have to spend in the first place?
This is a more difficult question to answer as it will depend on the size and
type of system you buy, the company you purchase it from and any rebates to
which you may be entitled.
To give you some idea, a 6.4kW system, which is big enough for homeowners
and small businesses with quarterly electricity costs in the region of $600-
$800, currently costs around $5,000. The actual figure you pay may be higher
for high-end systems or slightly lower for systems with cheaper components.
However, with our competitive finance packages, you can spread the cost of
your new system over several years.
Additional benefits to consider when buying a solar system in Brisbane
When answering the question “is home solar power worth it?”, there’s more to
think about than savings from lower energy bills. There are two more benefits
that many homeowners consider to be very important:
- Lower environmental impact — When compared to the alternatives,
electricity generated from solar energy has the least impact on the
environment. It doesn’t produce greenhouse gases, it doesn’t require
huge volumes of water to produce electricity (unlike nuclear power
plants), it doesn’t cause any local pollution and it doesn’t make a lot of
noise. In fact, it is virtually silent in operation. If you are looking for a
cost-effective way to reduce your household carbon footprint, choosing
to invest in a home solar power system is one of the easiest decisions
you’ll ever make.
- Energy independence — Households running on solar power don’t
have to worry about local power failures or sudden rises in the cost of
electricity provided by local utility companies because they generate
their own. And if you decide to invest in a hybrid system, with a battery
that can store surplus electricity produced by your solar panels, you
won’t have to worry about power failures at any time of day or night.
Whether you live in the heart of the city or in a rural location on the
outskirts, energy independence is a valuable benefit that you should
take into account when deciding whether to invest in a new solar power
Get in touch with the solar system experts today
If you would like to find out exactly how much you can save by investing in a
commercial or residential solar power system and what else it can do for your
household or business, call us on 1300 889 709 to one of our experienced
team members now.