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Savings From Solar Panels & Solar Power

Solar Panels For Your Home in 2024

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Solar panels offer a cost-effective solution by diminishing your electricity expenses and potentially generating additional income through feed-in tariffs. This article aims to provide a concise analysis of the financial advantages associated with solar panels, as well as the various factors that impact their effectiveness.

SOLAR PANELS SAVE YOU MONEY LONG-TERM. HERE’S HOW!

Reduced Energy Bills:

Solar panels use sunlight to generate electricity, which can provide a significant amount of your home’s energy needs. By using solar energy during the day, you can reduce your reliance on the electricity grid and reduce your energy bills. The more solar power your solar panels produce, the less energy you need to buy from your energy supplier, resulting in lower energy bills over time.

Increased Market Value:

Adding solar panels can increase your home’s value. Many home buyers in Australia understand the advantages of solar energy, such as lower electricity costs and a lower environmental footprint. Homes with solar panels are often sought after by buyers, which makes them more appealing in the property market.

According to a study conducted by the University of California, Berkeley, researchers found that homebuyers were willing to pay on average $15, 000 more for homes with solar systems.

For example, if you invest $20,000 into a solar panel system, you could potentially increase your home’s value by $40,000.

Another reason why solar panel-equipped homes are worth more is called the “solar premium.” This refers to the difference in value between a home with solar panels and one without. In some areas, the solar premium can increase the value of a home by 4-5%.

Feed-in Tariffs:

Feed-in tariff programs are available in almost every state and territory across the country. These programs enable you to sell surplus electricity generated by your solar panels back into the grid.

Depending on the rate of your feed-in tariff, you may be able to earn credits or be paid for excess electricity exported. This can help to reduce your electricity bills and generate additional income.

Protection From Future Energy Price Hikes:

Solar panels provide a more stable and predictable source of energy costs. Unlike conventional energy sources, which are subject to market volatility and potential rate hikes, the costs of producing energy from solar panels remain relatively stable once installed. When energy prices inevitably increase, the energy savings you achieve will help cushion the blow.

FACTORS THAT INFLUENCE SOLAR PANEL SAVINGS

Solar Panel Quality:

The efficiency and quality of solar panels can have a big impact on their performance. A high-quality panel with a higher conversion rate can produce more electricity.

System Size:

The size of the solar panel system you have determines the amount of electricity it can produce. A larger solar panel system can generate more electricity, potentially covering more of your electricity demand.

Orientation and Tilt:

The way your solar panels are oriented affects how much sunlight they receive. In the Southern Hemisphere, solar panels should be facing north to get the most sunlight possible. The angle of tilt should also be adjusted to the latitude of your location to get the best possible solar energy performance.

Shading:

Trees, buildings, and other obstructions that block the sun’s rays can reduce the panel’s efficiency. To get the most out of your solar panels, make sure they’re installed in a location with little to no shade.

HOW YOUR LOCATION CAN AFFECT YOUR SOLAR POWER PRODUCTION

Sunlight Availability:

Your location has a direct impact on the efficiency of your solar panels. In general, areas with higher levels of solar irradiance (remember, Perth is Australia’s sunniest city) are more likely to produce solar power.

Climate:

Temperature and weather can also affect solar panel efficiency. High temperatures can reduce panel efficiency slightly, while lower temperatures can increase it.

Latitude:

The latitude of your location also affects the angle your solar panels are installed at. Depending on your latitude, you can adjust the tilt angle to optimise solar energy generation.

HOW TO ESTIMATE YOUR SOLAR SAVINGS

There are a number of factors that will affect the overall savings you make. Let us take a look at them:

Understanding your typical power usage:

Take a look at your electricity bills to get an idea of how much electricity you’re using each month or year in kWh. This will help you get a better idea of how much you could save by installing solar panels on your roof.

Assessing your rooftop solar power potential:

Think about your roof’s orientation, tilt, whether it gets too much sun, if it gets too little sun, if it’s shaded by trees or other buildings, and if there’s enough room on your roof. Most north-facing roofs in Australia get the most sun.

Determine the system size:

How large a solar panel system should be depends on your electricity usage, roof space, and your budget. A bigger system will generate more electricity, but you’ll need to pay more in the beginning. Paying more for a larger system may seem excessive at first, but will yield a much greater result over the years.

Calculate solar energy production:

Use an online solar calculator or talk to your local solar installer to get an estimate of your system’s solar energy output. They’ll take into account factors such as location, roof tilt, shading and panel efficiency to get an approximate estimate of how much solar power you can expect to generate each year.

Consider your feed-in tariff:

Estimate your solar energy prodution and determine how much of your consumption you’ll be able to offset with solar power. Then subtract your estimated solar energy generation from your annual energy consumption.

Consider system costs and payback period:

Find out how much it will cost to install your solar panel system. This includes the cost of the equipment, installation and any additional costs. Then divide this cost by your annual financial savings provided from the solar power system. This will give you an estimate of how long it will take to recoup your initial investment in terms of energy savings.

Find out if there are any government incentives (such as rebates or tax credits) that can reduce your upfront cost of solar panels. Use these to figure out your net investment, and then adjust your savings estimate accordingly.
There is one small thing to keep in mind – the bulk of your savings aren’t coming from selling excess power back onto the grid. Instead, they’re coming from making use of the power you produce instead of selling it to Synergy.
For example, purchasing power, or importing from the grid, costs approx 28c-30c per kilowatt-hours (kWh). Synergy currently charges 10c/kWh for power exported from 3p.m. – 9p.m, and only 2-3c/kwh during off-peak times.

So during your peak midday generation times for every 1 kilowatt purchased, you’d have to export 10 kw’s back. So plan for current and future electrical usage and not selling to the grid.

WHAT ARE SOME OF THE BIGGEST MISCONCEPTIONS REGARDING SOLAR PANELS?

TOO EXPENSIVE!

One of the biggest myths about solar power is that it’s too expensive. While there’s an upfront cost to install solar panels, prices have dropped by 30-40% over the years. There are also government incentives and rebates, as well as financing options to help reduce your initial investment. For example, there’s the small-scale renewable energy scheme (SRES).

It’s a financial incentive designed to help people and small businesses buy and install their own solar power systems. If you’re looking to save money on your electricity bills over the long term, solar power is a great option to consider. You’ll also benefit from the income you’ll earn from your feed-in tariff.

NOT RELIABLE!

One of the biggest myths about solar power is that it’s inefficient and unreliable. But that’s not the case. Solar panel technology has come a long way, and today’s solar panels are highly efficient at converting sunlight into electricity. Even though solar energy production depends on the sun’s energy, solar panels can produce electricity even when it’s cloudy or overcast.

In addition, solar panels can be paired with battery storage systems to store excess power for use during periods of low sunlight, improving reliability. Ultimately, it all depends on the type of solar panel you choose: monocrystalline solar panels, or polycrystalline solar panels or thin film solar panels.

  • Monocrystalline silicon solar panels: These are the most efficient type of solar panel, but they are also the most expensive.
  • Polycrystalline silicon solar panels: These are less efficient than monocrystalline silicon solar panels, but they are also less expensive.
  • Thin-film solar panels: These are the least efficient type of solar panel, but they are also the most lightweight and flexible.

In addition, a large proportion of the solar panels installed in Australia are made from crystalline silicon. These panels use high-tech photovoltaic technology to convert solar energy directly into electricity.
The most popular solar panel type in Australia is the crystalline silicon solar panel. These solar panels are made from a type of silicon called a crystalline silicon wafer.

These wafers are cut from one crystal of crystalline silicon.
Crystalline solar panels are highly efficient. They are able to convert as much as 22% of sunlight they receive directly into electricity. These panels are also treated with anti-reflectivity, which improves their ability to absorb sunlight.

HIGH MAINTENANCE!

One of the biggest myths out there is that solar panels need constant and expensive maintenance. The truth is, solar panels are built to last. Solar panels don’t have moving parts, so you don’t need to do as much maintenance as you might think. Regular cleaning to get rid of dust or debris, and regular inspections to make sure everything is working properly will do the trick. Plus, good solar panel manufacturers offer warranties that will keep your panels in working order for 20-25 years.

ONLY MAKES SENSE FOR HOMEOWNERS!

Some people think that solar energy is only available to homeowners. But renters, businesses and communities can access solar power through various agreements, such as PPAs (power purchase agreements) and community solar projects (community solar projects). These agreements allow non-owners to benefit from solar energy without actually owning the property.

CONCLUSION

As time passes and energy prices change, the need to go solar and become energy independent becomes more important than ever. There is a lot of ‘white noise’ out there about the importance of solar and how it will not only help us manage a fluctuating energy market but how it will also help usher us into a cleaner, greener future.

At Urban Future we are confident in the long term benefits that solar power can bring to all homes and businesses in Perth. Our commitment to quality and customer satisfaction is at the heart of everything we do. We have delivered the fantastic long term benefits of solar power to over 2000+ homes & businesses.

We only purchase solar panels from reputable manufacturers such as: LG, Jinko, Sunpower, Longi, Trina & Hyundai. Our inverters all have great app and Australian support, like Fronius, Sungrow & GoodWe.

All our installers are accredited by Clean Energy Council. All our installs are as per Australian code and regulations.

Visit us at Urban Future to learn more about hot water, solar power, battery storage, or any other sustainable energy solutions. Or contact us at www.urbanfuture.com.au/contact-us call us on (08) 93437337 for more information.
We’ll help assist you with making the right choices, with the right products at a fair, competitive and affordable price, with several payment options available.
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