1) Soaring Energy Prices
Electricity prices continue to skyrocket year on year throughout the nation, so it’s wise to install solar in your home. With the money you’ll save on your energy bills, your solar unit will pay for itself in a matter of years.
2) Government Rebates & Incentives
Generous rebates and incentives are still on offer to new customers and provide a substantial discount on the initial solar power system price. Even if you don’t utilise all of the solar power in your system, you’re still eligible for subsidies from your retailer. The Federal Government offers subsidies for all types of renewable energy through an initiative known as the Small-scale Renewable Energy Scheme (SRES).
Through this scheme, consumers are provided with STC’s (Small-scale Technology Certificates) which act as a form of currency and can be bought, sold or traded. The total rebate is dependent on the value of these STC’s, which constantly vary. According to the SolarQuotes website, as of March 2017, the rebate is valued at around $750 per kW of power. So if you plan on getting a 5kW solar system installed, you’ll be saving around $3,750 on the initial costs.
3) Feed-In Tariffs
A Feed-In-Tariff (FIT) is a subsidy given to you by your electricity provider and is deducted from your power bill. It represents the excess electricity your solar energy system generates and feeds back in to the power grid. The tariff is calculated per kilowatt hour (kWh) and qualifications for the subsidy vary from state to state and the rate and subsequent value of the subsidy is dependent on your provider.
4) Cheaper Solar Panels
How much your solar panels ultimately cost you, depends on the size of your setup. That hasn’t changed. However, the good news is that the prices of solar panels have fallen dramatically over the past number of years, resulting in more affordable solar energy solutions for homeowners.
5) Attractive Finance Options
Affordable finance options are readily available, making it easier than ever to save money on your electricity bills.
Save Money with Solar Today
With the Federal Government frequently altering the rebates and bonuses that prospective solar power adoptees are entitled to, it’s often hard to determine exactly how much you stand to save. Thankfully however, the team at First Choice Solar are constantly monitoring the changes in government legislation concerning renewable energy to ensure that we can provide each customer with a solar power solution that is tailored to their exact energy requirements. With our knowledge and guidance, you’re guaranteed a state-of-the-art solar system that saves you money on your electrical bills and ensures a more sustainable future for our environment.