August 13, 2021
How much does a solar system cost?
The cost of a solar system varies drastically from state to state.
Rebates can halve the cost of a solar system installation.
When it comes to determining how much a solar system for your home is going to cost, there are several factors to consider – mainly the size, location, brand and quality of the components.
Generally speaking, a solar system installation currently costs somewhere between $3,000 and $12,000 in Australia.
Pretty wide price range, right? This is because the average solar system cost varies drastically from state to state. For instance, Western Australian residents enjoy some of the most affordable prices in Australia, while people in Northern Territory are unfortunately charged some of the steepest rates. Sydney, Melbourne and Brisbane are generally on par.
The size of your home, number of family members and average daily power usage also play large roles in how much a solar system will cost you.
Thankfully there are a number of techniques you can employ and initiatives you can utilise in order to equip your home with renewable energy for a lower investment.
Ways to reduce how much a solar system costs
Subsidies and rebates from the Australian government and state governments
There are numerous incentives from both federal and state governments for Australians to make the switch to solar energy.
These rebates can halve the cost of a solar system installation, making it affordable for many more households and businesses than what would have been possible without any assistance.
Check out which subsidies and rebates are available in your state.
Small-scale technology certificates (STCs)
STCs are part of an initiative developed by the federal government to incentivise Australians to transition to solar energy, by offering rebates based on how much energy your solar system would typically generate during its lifetime.
These STCs can be traded independently or your installer might offer to offset the cost of your solar system installation in exchange for the certificates.
Solar feed-in tariffs in Australia
Did you know you can be rewarded for the solar electricity that your system pumps back into the grid – essentially paying you for contributing to the country’s solar energy supply?
If your home or business is generating more solar electricity than it’s using, then you can start to see a bigger return on investment in the form of these solar feed-in tariffs.
Are solar systems worth the cost of installation?
That’s the real question you want an answer to. And the reality is they are.
Installing a solar panel system in your home or business might feel like a big investment. But the return on this investment is substantial – especially with the more time that passes.
While the average timespan for a solar system installation to pay for itself is approximately five years, the incentives and subsidies listed above can see your savings surpassing your upfront investment almost immediately.
You’ll be saving money and you’ll be contributing to the fight against climate change by reducing your environmental footprint.
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