More than 3 million households have now installed solar power systems in Australia. Despite the pandemic taking over, 2020 had seen a new record breaking growth in the Australian solar industry as solar installations reached new heights. And why not? Solar comes with some of the major benefits like saving money and reducing carbon footprints. However, there have been various changes related to feed in tariffs legislation in New South Wales over the past some years. You might know of someone in your neighborhood or family who receives premium feed in tariffs for their solar panels as they installed them probably 7-8 years ago. (Feed in tariffs is the amount you receive from your electricity retailer in trade for excess energy your solar panels generate and feed into the grid). This brings most of us to the question: are solar panels worth it in NSW?
The short answer to the question is yes, solar is still going to be worth it. Though the amounts received for solar exports have dropped, it still makes sense to install a solar system. As the feed in tariff rates have dropped over years so have the solar prices. The payback period for a 6.6kW solar system is between 4-6 years in NSW currently, it may vary depending on the type of products used, the installation costs and warranties offered. If the system pays back and saves money, it is worth it. Isn’t it? And top of that it reduces your personal carbon footprints. However, there a few things that will add value to your solar system over the lifespan of solar and they are:
- Choosing a right solar retailer that can offer good after sales services
- Correctly sizing your solar system
- Choosing the best solar panels for your property
- Installing solar panels in the direction that provides optimum benefits
These may seem like a few basic tips to install solar panels but these are one of the most important factors that determine the performance of your solar system and the worthiness of your investment.
Why should you install solar now?
Solar prices since Nov 2021 have been affected by several factors, including high manufacturing prices, high shipping prices, reducing rebates and the list goes on. This has led to an increase in the prices of solar. In a recent article of PV magazine it has been highlighted that the prices of polysilicon are expected to fluctuate and mostly rise even further. Polysilicon is a raw material used in the manufacturing of solar panels. This means your payback period shall increase too. The energy costs are increasing at a constant rate and when the prices of solar hike as well, the payback time shall increase, meaning it will take longer for you to reap the benefits of your investment. For example, if a 6.6kW solar system takes 3-5 years to pay for itself at present, when the prices increase it may take 7-8 years to pay for itself. However, Arise Solar is offering the best prices for a 6.6kW solar system and 9.9kW solar system in Sydney for a limited period till the stock lasts. Speak to our team to learn more about the best offer solar system in your postcode.
It can soon be mandatory to install solar systems in NSW.
Recently PV magazine has highlighted that “Shellharbour City Council on the South Coast of New South Wales (NSW) is poised to become the first local government area (LGA) in Australia to mandate the installation of solar PV panels on the rooftops of all new buildings constructed in the region.” The federal and state solar rebates in Australia has been the major driving force for the rising solar installations and new rules. Arise Solar is offering a wide range of solar panel systems to work with your budget and ensure you’re receiving the highest quality panels, designed for maximum performance and efficiency over time. We work with Australia’s most trusted solar panel brands, with systems engineered for our unique and changing climate.