Photo voltaic Vitality supplies many advantages for the setting, this text examines the prices, advantages and payback interval of putting in photo voltaic panels on a residential rooftop.
For these in search of the price of solar energy in Australia, Photo voltaic Selection publishes a photo voltaic worth index every month with the present pricing state by state, for various system sizes. The pricing the beneath desk consists of the upfront STC rebate supplied by the federal authorities however excludes any further state incentives just like the Victorian Rebate Scheme.
| 3kW | 4kW | 5kW | 6kW | 7kW | 10kW | |
|---|---|---|---|---|---|---|
| All | $4,120 | $4,750 | $5,230 | $5,930 | $6,860 | $9,620 |
| Adelaide, SA | $3,730 | $4,430 | $4,670 | $4,890 | $6,030 | $9,280 |
| Brisbane, QLD | $4,030 | $4,420 | $4,850 | $5,510 | $7,050 | $8,480 |
| Canberra, ACT | $3,560 | $3,950 | $4,240 | $4,880 | $5,390 | $7,140 |
| Darwin, NT | $5,570 | $6,940 | $7,810 | $9,040 | $10,020 | $14,090 |
| Hobart, TAS | $4,710 | $5,460 | $6,300 | $7,530 | $7,960 | $11,680 |
| Melbourne, VIC | $4,360 | $4,730 | $5,030 | $5,500 | $6,240 | $9,120 |
| Sydney, NSW | $4,050 | $4,590 | $5,050 | $5,490 | $6,570 | $8,690 |
| Perth, WA | $2,930 | $3,450 | $3,900 | $4,560 | $5,600 | $8,480 |
Examine quotes from as much as 7 installers in your space now.
Historical past of Photo voltaic Panel Costs
Within the early days (pre 2010) Photo voltaic costs had been round $5 to $10 per watt and was actually solely taken up by the early adopters with higher monetary means. The recognition of photo voltaic has been pushed partly by the reducing prices and in addition by a sexy federal STC scheme which provides as much as 40% of the price of the system by way of a authorities incentive. Over the past 5 years photo voltaic costs have continued to lower dramatically as product producers have reached economies of scale with manufacturing and as set up strategies have been streamlined. Photo voltaic Selection’s worth index has been recorded month-to-month since 2012 the place photo voltaic was nearly 3 occasions costlier.
Future Photo voltaic System Costs
Many individuals within the photo voltaic business anticipate the value of photo voltaic programs to proceed to extend in worth. Within the later levels of 2021 we noticed the general price of photo voltaic enhance by 10-15% on account of the worldwide photo voltaic panel scarcity. With the federal STC rebate persevering with to say no every year till 2030 there’s more likely to be upward strain on the price of photo voltaic that can’t be overcome by will increase in effectivity.
There are 2 essential methods during which a house photo voltaic system supply advantages, each of which have the impact of lowering your vitality invoice.
1. Offsetting your vitality consumption
The first manner during which photo voltaic might help you sort out your vitality prices is by lowering the quantity it is advisable purchase out of your electrical energy retailer which generally will price between 20-40c per kWh. Photo voltaic programs are put in with the smarts that inform your home equipment to make use of solar energy first earlier than ‘shopping for’ vitality from the grid. That is normally known as ‘self-consuming’ your photo voltaic vitality.
2. Feed in tariff for extra vitality
Any surplus vitality that’s generated by the system might be offered again to your vitality retailer at a charge known as a feed in tariff. In some states (WA and NT) these charges are mounted and in different states its as much as your vitality retailer what charge they give you – view our comparability desk right here. In Victoria there’s a obligatory minimal of 10.2c per kWh. Usually talking, your feed in tariff charge is at all times decrease than the speed you might be shopping for energy for. Your potential to entry a feed in tariff can be normally restricted to a most photo voltaic system measurement – for a full rationalization of what’s attainable state by state learn this information.
Provided that feed in tariffs are normally pretty low in comparison with how a lot you purchase vitality for (and charges have been dropping currently) it normally doesn’t make sense to go for a big system measurement until you may have massive vitality utilization. Sustaining a excessive ‘photo voltaic self-consumption’ charge will allow you to optimise your return on funding.
To find out the payback interval on your photo voltaic system we advocate utilizing the Photo voltaic Selection payback interval calculator and coming into the specifics of your case. As a fast information we’ve created the beneath desk utilizing some conservative assumptions for a typical residential situation for a house with a median utilization of 25kWh per day and a 6.6kW photo voltaic PV system:
| Common worth for six.6kW photo voltaic system | Value of electrical energy ($/kWh) |
Photo voltaic feed-in tariff ($/kWh) |
Payback interval (years) |
Inside charge of return | |
| Adelaide | $4,990 | $0.31 | $0.10 | 2.5 | 40% |
| Brisbane | $5,240 | $0.16 | $0.05 | 5.0 | 20% |
| Canberra | $5,030 | $0.20 | $0.10 | 3.6 | 28% |
| Darwin | $8,970 | $0.26 | $0.08 | 5.0 | 20% |
| Hobart | $7,120 | $0.27 | $0.09 | 4.5 | 23% |
| Melbourne | $5,100 | $0.25 | $0.07 | 3.5 | 29% |
| Perth | $4,630 | $0.29 | $0.05 | 2.7 | 38% |
| Sydney | $5,360 | $0.21 | $0.05 | 4.3 | 24% |
Assumptions:
-
- Electrical energy charges & feed in tariffs based mostly on center floor of what’s obtainable
- Assumed that fifty% of Photo voltaic Vitality is utilized by the house (self-consumption charge)
- Panels are tilted to the North at 30% pitch
- Inflation at 2.5% and a 5% low cost charge
As you may see, for many Australians they will set up photo voltaic and have the system pay for itself inside 2 – 5 years. Alternatively by a finance settlement or drawing down on the mortgage, photo voltaic might be funded money circulate positively by the financial savings it makes on vitality payments.
Putting in a very good high quality solar energy system will even enhance the worth of the home and will increase the potential rental yield as new homeowners or renters can profit from the free vitality on the roof.
Importantly putting in solar energy reduces a family’s carbon footprint and helps Australia on its journey to transition to 100% renewable vitality sources. There’s a nice alternative for a constructive monetary and environmental final result.
Examine quotes from as much as 7 installers in your space now.
We publish related up to date articles about house battery storage yearly: Is house battery storage price it?
