HOW MuCH CAN YoU Save By GOING SoLAR?

A Suburb by Suburb Comparison

The most important question everyone wants to know when they think about installing solarpanels is, how much will I save on my electric bill?
The most important question everyone wants to know when they think about installing solarpanels is, how much will I save on my electric bill?

Well, it gets complicated when you consider all of the rebates, tax breaks, performance payments and other factors that offset the cost of installation. Furthermore, you have to take a look at how expensive electricity is in your state and city. Even though you'll save money in the long run no matter where you are, you will save the most in Darwin (over $2,500) and the least in Perth (less than $1,200).

NoTABLe FaCTS

  • Average annual electricity bill across Australia is up $100 from the previous year, from $1476 to $1576.
  • In most areas of Australia, the payback time of rooftop solar is less than 5 years, making it one of the smartest investments available.
  • When looking at average payback time: "Self-consumption" is when a solar panel system consumes the energy it produces right as it's being produced. When a system produces energy, that energy will immediately power any running electronic devices. This reduces the amount of additional energy that system needs to import from the grid. Thus, a system with 70% self-consumption will give better returns than a system with 50% self-consumption, since it is able to use 70% of the energy it produces, only needing to purchase the remaining 30%. If a system produces more energy than the area needs (for example, if a household isn't using any devices), the excess energy is automatically exported back to the grid.
  • The Victorian Solar Homes Package lowers the cost of solar power by $2,225 for those living in the state, adding extra incentive not covered by STCs.
  • Nick Pfitzner, the first Australian resident to get a Tesla Powerwall battery installed, had his bill dropped from about $660 to $50 for the same quarter.

Cost Evaluation Factors

  • Electricity Price — if it is high, solar is attractive; if not, solar is too pricey
    • National average of 31.41 cents/kWh - 4 cents up from last year
    • Victoria has the lowest electricity cost at 23.27 cents/kWh
  • Small Technology Certificates (STCs) / Solar Rebates — usually from utility, they help to reduce the homeowner'scost of going solar. You’ll receive 1 STC for every Megawatt of energy your system is expected to produce until 2031. Once your system has been installed, the STCs can be sold to recover a portion of your solar system’s cost.
  • State or Retailer Tax Credits — For every unit of electricity you consume from your solar system, you do not have to purchase that unit from your electricity retailer. Your electricity retailer will also purchase any electricity generated by your solar system that you don’t use yourself, which can include state government payout.
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SaVINGS By CaPITaL CITy

  • $$$$$ — Most Savings
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  • $ — Least Savings