Is It Worth Installing Solar Panels In Melbourne

The answer depends on many factors including where you live how much roof space you have if your roof is shaded how much power you use what your local utility charges you for electricity and the prices offered by.

Is it worth installing solar panels in melbourne.

As you can see for most australians they can install solar and have the system pay for itself within 6 years. It s a question we get asked dozens of times a day and for most households installing solar panels is worth it. With the 26 federal tax credit reducing at the end of 2020 millions of american homeowners are asking themselves whether or not installing solar panels is worth it this year. Solar power in melbourne you can count on your choice of solar installer is what makes your solar investment good value.

Aside from the environmental sustainability aspect of using solar panels harnessing the sun s energy to support some of your home s energy needs will also lead to considerable savings in electricity bills. All states have stopped offering generous rebates for solar installation except for victoria which still has a rebate of up to 2 225 for households earning less than 180 000. Inflation at 2 5 and a 5 discount rate. Solar panels offer a great return in melbourne.

Solar panel prices are at a record low with an average sized 8kw solar system with good qualitypanels now costing as little as 8000 9000 fully installed generating over 30 kwh a day averaged out across the year. This is one of the more popular reasons of why solar panels are worth installing in melbourne. With two rebates slashing the cost of solar products in victoria these good quality systems are more affordable than ever. While cheap solar panels might feel like the easiest way to save some cash your total 20 year savings will often be higher if you invest in high quality equipment.

Melbourne homes can save hundreds of dollar per year by installing a solar pv system which when combined with the low system prices discussed above translates into payback periods as short as 3 5 years depending on how much of the solar energy your home manages to use directly. Solar is worth it financially. How much does the solar panel system cost. A good quality properly installed solar system pays off to a degree that surprises many people.

But it s not a straight calculation. Fortunately for us victorians we live in a country that sees sunshine on an average of 185 days per year. Of course its the hot and bright melbourne sun. Why should you consider installing solar panels in melbourne.

That s over half of the year your solar panel system will be in complete sun bathing mode. Installation prices will vary significantly depending on the solar company you choose and the equipment you install.