It is becoming abundantly clear to many homeowners in Australia that the right time to invest in solar energy is now, but what makes today’s solar energy better than solar panels of the past? Why is solar becoming such a popular energy alternative for many homeowners? Is it worth it financially to invest in a solar photovoltaic (PV) system for your home?
There are many advantages to installing solar panels on your home. Below are a few key benefits you can enjoy by choosing to have your home equipped with modern solar panels:
1. Cut Down on Energy Bills
This should be one of the more obvious points, but it really needs to be stressed especially now with the rising costs of living – which includes the price of electricity from the grid. Solar panels, on the other hand, generate energy from a pretty decent source, the sun!
By making the switch to solar, you can supplement your draw from the energy grid, meaning lower energy costs as you will not be billed for the energy you generate. You can save even more costs if you offset your excess generation to your energy provider. This is possibe by arranging a deal with your energy provider who will buy your excess energy off you at a rate per kilowatt/hour.
2. Sustainable and Environmentally-Friendly Energy Source
In addition to being completely free as a source of energy, solar energy is about as green as it gets. No need to drill deep in the earth or into the ocean, just set up your panels correctly and wait for the sun to rise. So long as the sun rises in the morning, you’re getting renewable energy to power your home.
3. Renewable Power Incentives from the Government
While the two above advantages are often reason enough for many homeowners to invest in solar energy, the government is also keen on having homeowners make the transition to renewable energy. Depending on your state or territory, as well as the type of renewable energy system you’ve installed (solar PV panels are among those accepted), you could be eligible for renewable power incentives to help with the cost of installation.
Moreover, some installations may be eligible for Small-scale Technology Certificates (STCs), which are essentially redeemable certificates earned by generating solar energy. These can be sold, thereby turning your excess solar energy into steady passive income.
4. You Can Increase Your Home’s Value
Some investments in your home are sure ways to increase its overall value should you decide to sell (or you just like to increase your equity). A new roof and hardwood floors come to mind, but solar panels are increasingly being sought after by homebuyers as the advantages are becoming more and more clear. You could stand to see your property value go up by installing a high-quality solar panel system.
5. Long Lifespan and Great Investment
Solar panels vary in quality and durability, which is why it’s important to ensure you’re buying high-quality products that are built to last. Generally, well-maintained solar panels can last for around 25-30 years. They require little maintenance, just some occasional cleaning as their efficiency gradually can go down.
Moreover, the break-even on your investment will often come far before the system reaches the end of its lifespan. A reasonable break-even for a typical home solar panel system might be around 7-8 years, although there are many factors that can affect this rough estimate.
Power your home with solar energy by contacting us at Cuthill Electrical. Our electrical contractor team is focused on providing solar installation to residential and commercial properties in Sydney. We can assist with any queries related to your solar power installation in Sydney to ensure the process is smooth from start to completion.