Do Solar Panels Save Money Australia

How much money do solar panels save you on electric bills.

Do solar panels save money australia.

The first step to understanding how much solar can save you is to calculate how much you are currently spending on electricity every year. Less power from grid a solar system helps you save because you won t be using as much electricity from the grid. 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. Well just look at this moxie customer s electric bill before going solar and after going solar.

Now back to the question of do solar panels save money. Household is 10 972 kilowatt hours kwh. 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. 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.

This price is for the most common size system 5kwh after the government rebate has been applied. We also include some handy ways to save money on installation. For example the average annual electricity use required for a u s. How they help you save money.

Obviously if solar panels were to save you money it would come in the form of reduced electricity bills. On average installation and the system together can run between 15 000 and 25 000. Solar panels cost 5 250 on average in australia. This guide will give you a quick run down of solar panel costs and everything involved with installing solar on your home.

One of the best things about solar panels is that they ll eventually pay for themselves and save you money in the long run. But the true cost of solar panels and whether they ll help you save money depends on a few key factors.