Combatting Electricity Price Hikes with Solar
As Australia's power bill rates continue to increase, here are our tips on lowering your bill with solar.
Unluckily for Australians, electricity prices will be skyrocketing again in the coming months. It looks like electricity will only keep increasing as retailers continue to pass the surging wholesale power costs onto the consumer.
The Australian reports that the current increases are due to volatile conditions in Europe and global COVID after-effects. Energy retailers are calling for the federal government to subsidise power prices to support Australians struggling with the increased cost of living, but no long-term plans have been announced.
There are many suggestions about how to keep electricity bills down in your household, including switching off lights as you leave rooms, turning off unnecessary appliances, and installing energy-efficient lighting. While these are all great recommendations, with the price hikes that we are about to experience we should consider long-term solutions for exorbitant power bills.
Solar as a Long-Term Energy Solution
Solar PV is now installed on more than 30% of Australian household rooftops and generated around 10% of Australia's power in 2020-2021. With more Australians choosing to supplement their power with renewable energy sources, it is increasingly apparent the long-term benefits solar has for homeowners.
Depending on the size and quality of the solar system, solar can save property owners hundreds or thousands off their annual electricity bills over the lifetime of the components. To benefit from maximum savings, a high-quality system must be installed with excellent workmanship. Extended warranties can also be offered on components that are installed through certified or preferred installer networks, ensuring that your system will deliver savings for decades without needing to stress about replacement or repair costs.
With installation costs gradually lowering and being supplemented by STCs, the payback period is also shortening. On average, Australians pay back the full cost of installation within four years thanks to their solar savings. All in all, the upfront investment, short payback periods, and long lifetime of the panels covered under warranty means that solar is a viable and worthwhile long-term energy solution that is guaranteed to bring your power bills down by the hundreds, if not thousands.
The Perfect Opportunity to Install Solar
With the full force of the upcoming electricity price hike expected to hit on the 1st of July 2022, it is the perfect opportunity to install solar. It takes approximately 6-8 weeks to complete a solar installation following the initial inquiry. The sooner you decide to take that first step, the sooner you can experience the full benefit of solar.
We also recommend installing solar to your property as soon as you are capable of doing so to encapsulate the best STC or "solar rebate". We've written a blog here detailing what STCs are, but basically, the solar rebate decreases every year as we near closer to its expiry in 2030. So the sooner you install solar, the larger of a rebate you will receive, bringing the upfront cost of installation down and shortening the payback period.
Additional Solar Savings When Adding a Battery
Adding a solar battery to your solar system takes power savings to a whole new level, as the battery allows you to store excess solar energy generated throughout the day to be used at night or in poor weather. A battery essentially guarantees total energy independence, as you don't need to access the grid for conventional electricity. This means even more savings on your power bills, or it could scrap the bill altogether.
While solar home batteries are increasing in popularity across Australia (over 100,000 battery systems have been installed nationwide as of 2022), batteries are still a substantial investment for the average Australian. We would recommend getting in touch with our solar and battery experts to determine whether purchasing a battery is right for you and your circumstances. We anticipate solar batteries to continue to become more financially viable as their popularity increases.
Australia is one of the best places to utilise solar energy, and considering rising electricity rates, it makes sense more than ever to install solar on residential and commercial properties. Solar is the only long-term solution for shaving hundreds or thousands off your annual electricity bills, and with short payback periods and extended lifetimes, installing solar is a viable and worthwhile investment. When you decide to go ahead with solar, you must select an industry-trusted installer who uses high-quality components and offers extended warranties. This way, you can be sure your system will be serving you and providing savings for decades to come.
Who are we?
At Springers Solar we only recommend and install quality components that have been expertly selected by our team of in-house engineers, solar experts, and project managers. We design our systems to fit the unique requirements of your home or business and only select the components that will perform under those conditions. We are trusted by some of the largest industrial manufacturers in the world and are recognised as preferred/recommended installers for a large portion of them. Choosing solar is an investment so taking the time to research and choose components that will work for your project is important to us.
Contact Us for a Free Quote
You can call us today, or fill out the form below for one of our experienced staff members to call you and discuss the quote. If you prefer an emailed response please make a note of that in the message. Make sure you also let us know what suburb you are from too