What are the benefits of solar energy?
Solar energy has become an increasingly popular choice for Australian households. In 2008-09 a mid-sized solar system (10kw fully installed) would have cost more than $25,000 compared to approximately $6,500 in 2022. The reduction in cost is due to numerous factors including large-scale production of solar panels, technological advancements, market competition, and government grants, which have led to a higher uptake of residential Solar PV installations across Australia.
Here are a number of benefits from installing a solar power system:
1) Lower electricity Bills
When the solar panels on your roof are generating electricity for you, there will be less reliance on the electricity used from the grid. This means you will use your own generated electricity first before paying for the electricity from the retailer, which comes at a cost. In addition, when you produce more electricity than your household consumes, you will be able to export the electricity back into the grid. The excess solar energy exported to the grid will earn you bill credits known as a solar feed-in tariff. This does depend on your electricity retailer and the state you live in.
2) Solar power increases the value of your property
According to market research conducted by www.realestate.com.au, having a home solar panel system can increase the value of a property. For many homeowners, investing in home improvements or adding a pool is the traditional path to increasing a home’s resale value – but a solar system as small as 5 kilowatts can increase the value by up to A$29,000
3) Low maintenance costs with solar energy
Ensuring your solar panels remain clean is important and can be inexpensive. We recommend booking an annual cleaning of your solar panels to improve the amount of electricity generated. The average cost is between $150-$300 annually. Professionals can also spot minor damages and repair them if needed.
4) Government schemes for solar energy are available
Government financial incentives are available for eligible homeowners looking to adopt solar as a renewable energy source for their homes. Through the Small-scale Renewable Energy Scheme, Aussie homeowners can receive a tradable certificate for their associated solar panel system. Criteria include having a solar PV system that is no more than 100kW and installed by an accredited Clean Energy Council (CEC) installer.
The government schemes and rebates differ by state and eligibility criteria apply. You can review our energy rebates and incentives blog or request a call back from our Nectr Solar specialist to know more about state and federal-level government schemes and incentives.
5) Reduce your carbon footprint and support renewable energy
Adding to the benefits of solar energy is that the electricity produced from your solar system is clean, renewable, and does not emit any greenhouse gases. By installing solar and using your own generated electricity you will help reduce your carbon footprint and help protect the environment. The electricity that is supplied from the grid comes from a variety of sources including fossil fuels.
6) Solar panels last longer and they pay back faster
The solar manufacturer's warranties are for the product and performance of the panels. At Nectr we have partnered with reputed solar panel manufacturers who offer a minimum of 15 years of product and 25 years of manufacturer's performance warranties.
As a guide, the cost of owing the solar on your rooftop is repaid between 5 to 8 years. The period is dependent on several factors such as the size of the solar system, how much electricity it generates, applicable feed-in tariffs, and how much energy you consume.
7) Equal monthly instalments
Nectr offers an option to pay monthly instead of paying for it outright with no interest fees or charges. Starting from $131/month you can install solar panels at your home and start enjoying the savings.
There is no better time to install solar than it is now. Request a callback and one of our Nectr Solar specialists will help you tailor the best solar packages available to suit your needs.