Invest in Solar to Save a Dollar

It’s interesting how we live in one of the warmest continents on the planet, yet the only thing we do about it is whine, instead of using it to our advantage. And while I understand the frustration the hellish weather can cause, what I don’t understand is why aren’t we using it to produce renewable energy. Funnily enough, the amount of energy Australians produce through solar panels is still far behind the amount of energy we produce from oil and coal, which are environmentally harmful.

We’re already feeling the consequences caused by global warming, and we do nothing to stop it. The Great Barrier Reef is pretty much dead, and other flora and fauna are on the brink of extinction as well. If you’ve just realized the threat of global warming, don’t be passive – start acting. You can start off by installing a solar PV panel for your home or business.

Nowadays, thanks to the internet, you can find PV solar panels for sale online. Solar PV systems work by utilising an array of panels which are normally mounted on the roof. Each panel is made up of PV (photovoltaic) cells, which are usually made of thin layers of silicon and look like black or blue tiles. When the sun’s light hits the cells, an electric field is created. The brighter the sunlight, the more electricity produced. Here are some of the benefits that solar energy brings to your home.

The Feed-In Tariff

This almost sounds unreal, but you’re getting paid for each unit of electricity you produce. The generation tariff pays for every unit generated, while the export tariff pays for each unit exported. Most electricity companies assume you’ll use at least 50% of your electricity generated, and pay you according to those numbers. Most homeowners can get about 12% annual return on their investment. However, the FiT rises annually in line with inflation.

Costs and Savings

Residential PV solar systems vary in size, most commonly from around 1 kWp to about 4kWp. However, this doesn’t mean you can go above this number if you own a bigger home. The main cost is the one upfront purchase and installation, including mounting frames, cabling and labor costs. They’re not costly to operate and maintain whatsoever, as you can get them checked once a year.

Besides the payments you receive from your electricity provider, you also save on electricity bills through investing in PV solar panels. Simply put – Bill Savings + Generation Tariff + Export Tariff = Annual Benefit. And with the energy prices rising dramatically each year, the annual benefit will rise as well. Before looking for PV solar panels for sale, consider the energy requirements of your home, so you can install an adequate amount of panels.