Queensland isn’t called the sunshine state for no reason. Brisbane alone experiences 2884 hours a year of sunlight. Why aren’t you harnessing the sun’s free energy with solar power?
Australia and Queensland, in particular, are famous for our sunny skies. Solar power harnesses the natural resource up in the sky and powers your home. We always say that installing solar power is the home improvement that gives back. But how much does it really give back?
Let’s take a look at how much solar power saves you in Australia…
Payback time on your solar system
The ‘payback period’ refers to how long it takes for your solar system to pay for itself.
A standard system for the average sized home will cost roughly $5,000, and additional battery storage starts at $2,000. This means that “without storage, payback will commonly take about five years,” according to Warwick Johnston, the managing director of Sunwiz. Johnston also noted that “a five-year payback on a system that can last about 25 years is a significant return on your investment.”
Brisbane residents can expect to pay their solar system off even quicker, thanks to additional sunlight and high electricity prices. Those two contributing factors mean that Brisbane residents can expect their payback period to fall under five years.
Want to know how long you should expect your payback to be? Use this handy calculator by Solar Choice.
Return on investment
Once your solar system has paid itself off, the real savings can begin. Of course, savings vary per household so rather than run some hypothetical figures we wanted to show you real stories with real people.
Household 1 – 2 adults, 2 children in an average sized Sydney home
Nick Pfitzner saved over 90% on his power bill after installing a solar + battery system. You read that right, over 90% saved. He said that he “knew it would save me money, but I had never expected to see a saving that big.”
Household 2 – 2 adults in a two bedroom Melbourne home
Michelle and Graham were initially paying an average of $300+ per quarter on electricity. After installing solar panels they saved 50% with their new electricity bill sitting around $155 per quarter. That is an additional $580 in Michelle and Graham’s pocket every year.
Household 3 – 2 adults, 3 kids in a four bedroom Perth home (featuring a pool)
Fred, Kate and their children were paying almost $1,000 per quarter on electricity ($3,920 per annum). A big electricity suck, besides the three children, was the pool. After installing their solar system their electricity bill reduced by 44%. This saved them over $1,750 a year.
Household 4 – 2 adults
David and Jenny were paying $200 a month ($600 a quarter) but thanks to their new solar system they can now pay their monthly electricity bill with a $5 note and get change. A quick calculation shows that the Kidds reduced their electricity by 98%.
Additional benefits
If those savings aren’t enough to get you reaching for the phone we have two things to say to you:
- Are you insane?
- We haven’t even touched on feed-in tariffs or how solar systems increase the market value of your home.
With power prices on the rise, NOW is the time to make the switch!
Ready to reduce your electricity bill forever? Get in contact with us today for a free quote or to learn more about our no interest EVER payment solutions.