Do Solar Panels Save You Money Australia

There are two types of savings you ll find with solar.

Do solar panels save you money australia.

If you want to understand how much money can the solar panels save you you can make an easy calculation. Even if your electricity rates aren t as high as california prices going solar can still save you money. We are located in melbourne victoria and we supply the best solar panel system inverters 2kw 3kw 5kw and 10kw to commercial and residential owners across victoria and help make them save money. If you live in a state like california where the solar costs are considerably lower than electricity costs you can most definitely save money with solar.

Less power from grid a solar system helps you save because you won t be using as much electricity from the grid. And while the cost of solar panels has dropped more than 70 since 2010 according to the solar energy industries association batteries can cost as much as 10 000 to 15 000 including installation according to solar united neighbors. How much money do solar panels save you on electric bills. The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year.

The average annual electricity use in australia is 10 972 kwh per household. But the true cost of solar panels and whether they ll help you save money depends on a few key factors. Solar panels will usually help you save money on energy costs as long as you live in the same house for long enough to recoup the installation costs through savings on your power bill. For example the average annual electricity use required for a u s.

On average installation and the system together can run between 15 000 and 25 000. If your power bill is more than 500 a quarter a solar power system will almost certainly be of great benefit and as a general rule the larger your power bill the more money you can save and hence the more a solar power system will be worth it. Solar batteries allow you to store the excess solar power to then be used in the evening as needed. Household is 10 972 kilowatt hours kwh.

This amount multiplied with the cost of electricity will give you a total of approx. The solar break even point is the time when the savings start to be.